ou are considering taking out a loan of 5000 that will be paid back over 8 years with quarterly payments of 203.12. If the interest rate is 6.7% compounded quartley, what would the unpaid balance be immediately after the 11th payment?

Q: How much more is a perpetuity of $2,000 worth than an annuity of the same amount for 10 years?…

A: Formula using here,  PV of perpetuity =Amountinterest rate =20004%=$50,000

Q: In 2012 the maximum social security deposit by an individual was $8,386.75. Suppose you are 30 and…

A: Given that The yearly deposit amount PMT=$8386.75Interest rate r =3%=3100=0.03Componded annually ,…

Q: A loan of $14400 is to be repaid in end of quarter payments of $600. How many payments are required…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

Q: Jill borrowed $13,000 at 5.5% p.a. compounded semi-annually. If the loan is to be repaid in equal…

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Q: Suppose you make a down payment of 17% of $27,600 and finance the rest at 1.5% compounded monthly…

A: The down payment is 17% of $27,600, which is: 0.17 x $27,600 = $4,692 Therefore, the amount to be…

Q: Find what simple interest rate will be necessary for Sonny to get a 40% return on a $500 investment…

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Q: A borrower had loan of $5500 at 5.1% compounded semiannually, with 18 semiannual payments. Suppose…

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Q: A loan of  $12,400 is to be repaid with monthly payments for 5 years at 12 % interest compounded…

A: To calculate the monthly payment, we can use the formula for the monthly payment on a loan with…

Q: Suppose you have budgeted $ 1130 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Given that, the monthly payment towards a mortgage is $1130, the number of years is 30 years and the…

Q: Suppose you borrow $7,500 from a bank that charges 4% interest compounded monthly. How much will you…

A: From the given information, it is observed that the Principal is P = $7500, the rate of interest is…

Q: Izan and Meng plan to send their daughter to university. To pay for this they will contribute equal…

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Q: Suppose you can afford to pay $300 a month for 5 years towards a new car with no down payment. If…

A: Suppose you can afford to pay $300 a month for 5 years towards a new car Then the Future Value of…

Q: You borrow $2,000 from Gougo's , a well-known loan consolidation outfit . The loan is an…

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Q: u are considering taking out a loan of $20,000 that would be paid back over seven years with monthly…

A: Given: Loan amount = $ 20, 000 Monthly paid amount  = $ 289.30 over 7 years interest rate = 5.7%…

Q: how expensive of a mortgage can you afford?

A:

Q: You won the lottery today and immediately deposit your funds into an investment account that earns…

A: By the formula of payout annuity due P0=d×1-1+rm-n×mrm×1+rm where P0 is Balance in the account at…

Q: Mckenna’s family bought a cottage and now have a mortgage in the amount of $78 000. They will repay…

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Q: Suppose you can afford to pay $300 a month for 6 years towards a new car with no down payment. If…

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Q: A personal account earmarked as a retirement supplement contains $242,100. Suppose $200,000 is used…

A: Let A be the amount  used to establish annuity R is the amount paid at the end of each quarter r be…

Q: Suppose that you borrow ​$3000.00 from a friend and promise to pay back ​$4755.00 in 3 years.…

A: It is given that the principal is 3000, balance is 4755 and time is 3 years. The formula to evaluate…

Q: You buy a car with a down payment of $700 and payments of $400 per month for 3 years. If the…

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Q: If you have a loan of 140,000 at 9% per annum interest over 20 years and you have a monthly…

A: We have to find the how much is saved by increasing the payments.