Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately, their savings account is depleted, and they will need to borrow money in order to buy a new one. Sears offers them an installment loan at 15% (add-on rate). If the refrigerator at Sears costs $1,500 plus 5% sales tax, and Karen and Wayne plan to pay for the refrigerator for 2 years, what is the monthly payment? A $72.34 B $81.25 C) $93.84 D $76.78 E $85.31

Q: Suppose you are playing soccer and run head-on into the goalie. As a result of the collision you…

A: Total bill of hospital = $5280 According to the payment structure of health insurance policy, we…

Q: Larry purchased an annuity from N insurance company that promises to pay him $2,000 per month for…

A: $2000 per month for rest of his life. Larry paid $210240 for annuity  From table : For 72 years  :…

Q: Rebecca wants to borrow $600 to buy her favorite video game console and a couple of games. Best Buy…

A:

Q: Joe is borrowing $600 from his parents in order to finish paying his tuition bill. His  parents…

A: Simple interest (SI)=Principal amount (P)×Rate of interest (R) in decimal ×Time(T) as a fraction of…

Q: you can buy a car for $25200 or lease the same car for 3 years for a down payment of $1500 and…

A: Consider the given information.  The basic price of the car is $25200.    If you are taking a car on…

Q: Hector's second option for purchasing his $24,000 car is a loan with 4.5% interest over four years.…

A: Hector purchasing his car is a loan with  interest over four years.The aim is to find out how much…

Q: Suppose that you borrow $17,000 for four years at 6 ​%  toward the purchase of a car. Use PMT equals…

A:

Q: The price of a home is $220,000, financed at 7% with a 30 year fixed rate. 20% down and 3 points…

A: The down payment is = Price of Home × percentage of down payment = $( 220,000 × 20%)…

Q: Jenn borrowed $900 from her sister at a simple interest rate of 1.5%. If Jenn will pay back her loan…

A:

Q: Sarah's insurance plan includes a $1,000 annual deductible, 20% coinsurance after the deductible is…

A: The objective of this question is to determine how much more Sarah will need to pay if she incurs…

Q: You can buy a car for $25,200 or lease the same car for three years for a down payment of $1,500 and…

A: From the given information, it is observed that the basic price of the car is $25,200. If the car is…

Q: Tina and Mike have sold their house, but they will not get the proceeds from the sale for an…

A:

Q: Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately, their savings…

A: Here we have given that r=15%=15100=0.15. The monthly loan payments are designed in such a way that…