David plans to purchase a motorcycle. He needs to borrow $7500 and interest is 8% per annum compounded quarterly. Determine the quarterly payment he will need to make if he agrees to repay the loan over 3 years.

Q: Moe takes out a conventional loan to purchase a car. The interest rate is 8.3% compounded monthly,…

A: amount of the loan is  $12000 monthly interest rate=8.3% compounded monthly

Q: To buy a house in Auckland, Mr Lim took a loan of $500 000 from a bank which chargers compound…

A: Loan Amount  = P0 = $500,000 Interest Rate , r  = 0.013 Loan term = n = 10 years The CI is…

Q: A sailboat costs $19,286. You pay 25% down and amortize the rest with equal monthly payments over a…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: A business must pay an annuity of $ 20,000 quarterly with j4 = 5%. Calculate the semester payment to…

A:

Q: Cassandra received a loan of $7,700 at 4.25% compounded monthly. She settled the loan by making…

A: To determine the size of the periodic payment.

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: Millie invested $1000 at 3.5% interest, compounded monthly for a term of 18 months. What will be the…

A: the objective is to find the maturity value of a investment at the end of 18 months.

Q: Find the exact interest on a loan of ​$6,000 at 8​% annually for 70 days.

A: Given, a loan of $6,000 at 8​% annually for 70 days.To find the exact interest on a loan.

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

A:

Q: . Find the size of the payments if money earns 3% compounding quarterly.

A: Given: Helen has borrowed $4000, and agreed to pay it back in two equal payments to be made in 6…

Q: Tony Ring wants to attend Northeast College. He will need  $90,000 4 years from today. Assume Tony's…

A: According to the given information,

Q: A couple buys a condo for $310,000. After a 20% down payment, they take outa 30-year mortgage at 7%…

A:

Q: Henry is going to retire in 22 years and would like to invest $50,000 now into his retirement…

A: Compounded Monthly formula :

Q: Laurie took out a business loan of $82,000 earning an annual interest of 8.2% compounded quarterly.…

A: We have to find how much Laurie need to pay towards the loan every quarter in order to pay off the…

Q: You have the option to take out a 30 year mortgage with an APR of 4.9% what will your monthly…

A:

Q: Leo needs $30,000 to cover

A:

Q: Suppose you make a down payment of 6% of $27,600 and finance the rest at 1.5% compounded monthly for…

A: The down payment is 6% of $27,600, which is: 0.06 x $27,600 = $1,656   So you are financing the…

Q: Taylor took out a student loan for $69,000 and agreed to pay it off with monthly payments over 4…

A: