Molly has a $2500 down payment saved for this purchase, and the dealer’s $1500 Cash Allowance will come straight off her total. How much loan does Molly need?

Q: The Potters want to buy a small cottage costing $120,000 with annual insurance and taxes of $740 and…

A: Mortgages are a sort of loan that can be used to buy or keep up a house, land, or another piece of…

Q: Tina Mier must pay a $5,000 furniture bill. A finance company will loan Tina $5,000 for 8 months at…

A: Interest=Rate×Principal×Time×1100

Q: maria can afford 250 per month car payment. she found a 5 year loan at 7% interest. how expensive of…

A: The value of the expensive car Maria can afford can be calculated by finding the present value of…

Q: Theo just financed a new car through his credit union.  His car loan requires payments of $420 a…

A: A car loan is a type of personal loan specifically designed for purchasing a vehicle. It is a…

Q: Rayleene is getting a loan to buy a used car from a seller. The price of the car is $8200.00. She…

A: As per our guidelines, we are supposed to answer only 3 sub-parts (if there are multiple sub-parts…

Q: 3. Trudy takes out an easy access loan for $500. It cost her $10 for every $100 and a one-time fee…

A: Trudy takes out an easy access loan = $500 Cost for every $100 = $10 Cost for $500 loan = $500 x…

Q: Can Olivia and Anthony Afford This Home Using the Monthly Income Loan Criterion? Next week, your…

A: Here,  Monthly Income is $125,000 Current (pre mortgage) installment loan, credit card, and car loan…

Q: how many years will it take her to pay back the loan?

A: A person defers his or her current payment liability via loan. A loan is provided by a bank, who…

Q: Maria and John decide to shop for furnishings for the new house.  They choose items that amount to…

A: Computation:

Q: ​(Solving for r with annuities​) Nicki​ Johnson, a sophomore mechanical engineering​ student,…

A: The problem involves finding the rate of return (r) that Nicki would earn if she invests her money…

Q: Inez wants to borrow $2100 to start a small business.  She has found a bank that offers a 7% add on…

A: Calculation of Monthly Payment:The monthly payment is $47.25.Excel Spreadsheet:

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Interest Rate = 6% APR Previous Balance = $1,173 Calculation of Number of days between is as follow:…

Q: If Sandy can afford car payments of $320 per month for 7 years, what is the price of a car that she…

A: A series of equal payments at regular intervals over a period of time is called an annuity. If the…

Q: What house value can Betty afford? Betty's annual income is $90,000 and she has monthly credit…

A: Here, To Find: Value of the house =?

Q: Deborah can't decide whether she wants to buy and car or lease a car. She is looking at a $48,000…

A: Given, The loan amount is $48,000 rate is 3.95% Term is 3 years

Q: Mary has saved enough money to make a $10,000 down payment on a $3 finance the purchase with an auto…

A: Monthly payment refers to an amount that is paid at every month for the repayment of loan amount…

Q: Ursula wants to buy a $21,000 used car. She has savings of​ $2,000 plus an​ $800 trade-in. She wants…

A: The monthly payment is the payment that includes the principal amount as well as interest amount and…

Q: Abby also has a $400/month car loan payment and a $150/month student loan payment. If her lender…

A: The portion of monthly income that goes into paying the loan installments is known debt-to-income…

Q: You wish to buy your first home. Your annual gross income is $84,000. You also have monthly payments…

A: Mortgage loans are given on the basis of monthly income and other expenses related to the housing…

Q: 1. Lilibeth borrowed $1,200 from her aunt to buy a book. She promised to pay her after a month. Her…

A: Simple Interest may be defined as Interest that is calculated as a simple percentage of the original…

Q: Scott & Rebecca can afford to pay $3,500.00 each month for a mortgage. Their credit union is…

A: It is a problem with sub-parts where monthly repayment ability is compared with the total loan…

Q: need to ulate the they can an annual income of $67,500 and have $37,000 available for a down payment…

A: Affordability ratio is the ratio which tells us how much of the monthly income can be allotted to…

Q: 4) Brenda is buying a living room set for her home. At Furniture, Inc., she picks out a set for a…

A: With an installment loan, the borrower receives a fixed amount of money and repays it over a…

Q: Dan is planning to buy a new home that costs ​$130000 Find the following if Dan make a​ 5%…

A: The down payment is the initial payment made by the buyer when anything is bought on credit.

Q: 6) Susan is looking to purchase her first home five years from today. The house costs $1,550,000.…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: Tom needs a car to commute to work and has found a suitable Honda Civic from a dealer for $8000. He…

A: Total is the amount of down payment and amount total paid in monthly payments that include payment…

Q: Your grandma pays upfront for you to go on the overnight trip with the school, which cost $340. You…

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Q: Kat is looking to but her first car. She has figured that she can afford to make up to a $388…

A: The maximum amount that can be borrowed is calculated as present value of monthly payments

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A:

Q: Sylvia wants to buy a car and feels that she can afford payments of $200 per month (month-end…

A: Using excel PV function Where PMT is the monthly payment NPER is the compounding periods RATE is…

Q: Rachel purchased a car for $17,500 three years ago using a 4-year loan with an interest rate of 10.8…

A: First we need to use monthly amortization formula below to calculate monthly payment.   Where PMT…