Quen Sam is PLanning to buy a home for $28500 '5%. He needs to do down pay ment and rest he can take montgage 8or i gear at 5%- compounded semi annually with monthly Pay ments what is the cost of buying house over 12years2 Answen is $14760-52

Q: Dale Cooper just signed an annual contract for $100 a month parking garage (twelve payments of…

A: The present value of the contract can be calculated as:

Q: evin bought a washer and dryer for $1050 but only had a down payment of $150.00. He financed the…

A: In add on method we simply add interest for given period and add to that with principal amount.

Q: A young couple has saved up $12,000.00 for a down payment on a home. They are currently paying…

A: The loan represents the amount that is borrowed from the lender by the borrower to expand of…

Q: You are purchasing a home for $150,000 at an 8% APR.  Your loan period is 360 months.  If your…

A: Given Cost of home is $150,000 APR is 8%Loan period is 360 Payment is $1,100.65

Q: Ben Spendlove just purchased a new stereo system for $975 and will be making payments of $45 per…

A: The amount borrowed from bank is known as loan. The interest rate on loan can either be charged…

Q: wants to buy a new jacuzzi. The jacuzzi costs $1500 Teagan decides to finance the jacuzzi for 36…

A: Loans make easy to buy anything because you have to pay by monthly payment which are easy to pay and…

Q: You're moving to a new location and decide to purchase a new home. You find the house of your dreams…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: two choices. Choice 1: 30-year fixed rate at 6 % with closing costs of $1800 and no points. Choice…

A: Housing loans are refer as the amount of money borrowed from financial institution or bank to…

Q: You decide to buy a $ 1,500 piece of furniture at a local furniture store. The furniture store asks…

A: Annual rate (r) = 25% Number of compounding per year (m) = 12

Q: The Bonnie Co. reported sales of $6,105,000 and has 242,700 shares outstanding. If the benchmark PS…

A: The PS ratio is the ratio of Market cap to the Total sales of the business.  It is a ratio to…

Q: How much can the homeowner borrow for 2 years at 9%, compounded monthly, and still stay within the…

A: Loan: It refers to lending a sum of the amount to the borrower in exchange for the principal and…

Q: You want to buy a home.  You can borrow 95% of the purchase price.  Assuming you can make a down…

A: To calculate the price of home we will use the below  formula   Home price = Down payment/(1-Loan to…

Q: A pottery factory purchases a continuous belt conveyor kiln for $48,000. A 6.2​% APR loan with…

A: Given: Rate =6.2%Time =monthlyPmt =$428.13Present Value(PV)=$48000

Q: A Hepplewhite sofa costs $3,200 in cash. Jaquanna Wilson will purchase the sofa in 24 monthly…

A: EMI or monthly mortgage payments are the fixed amount paid by the borrower to the lender that…

Q: In order to purchase a home, a family borrows $30,000 at 2.25% for 3 yr. What is their monthly…

A: For the purchase of large ticket items like a house or a car etc. we usually take loans. The loan…

Q: Use the following information for the next 2 questions Roger buys a house costing $300,000. He puts…

A: Loan amortization refers to the equal and periodic repayment of loan including the interest. The…

Q: Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in…

A: Monthly payments (EMI) for a given loan amount for a particular time period (in years) at a given…

Q: You are looking to buy a $350,000 home Your household has a combined income of $97,000 The…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: jOE  buying some kitchen equipment for his new apartment. The total cost is $1,400 and he places a…

A: Formula: Simple interest = ( Principal x time period x interest rate ) / 100 Repayment amount =…

Q: You buy furniture for 5400. You pay 300 down the remainder is financed in 36 100 monthly payments.…

A: Furniture price = 5400 Down payment = 300 Number of payment = nper = 36 Monthly payment = pmt = 100

Q: everly Frost bought a home for $190,000 with a down payment of $19,000 at 7% for 25 years. Since…

A: Monthly payment = [P x R x (1+R)N]/[(1+R)N-1],   Here,  P = loan amount or principal = 190000 -…

Q: n Searcy buys a condominium for $96,200. He makes a 5% down payment, and pays these closing costs:…

A: Down payment is the amount to be paid by the buyer of the home that is cash money out of pocket of…

Q: Then Maria Acosta bought a car 2 years ago, she borrowed $17,000 for 48 months at 7.2% compounded…

A: Step 1 Present Value The total of future investment returns discounted at a given level of expected…

Q: Borrower Stu wants to get an FHA loan for a home priced at $253,500 and appraised for $257,000. The…

A:

Q: Adam and Analisa have found a home for \$200,000 requires a 20% down paymentthey have 50,000 in…

A: Expenses are the cost incurred and presented in the income statement. It is deducted from the…

Q: If you buy a home with less than 20% down, you will pay an additional monthly fee, PMI (private…

A: Amount of loan is repaid in fixed amount of instalments which includes portion of principal as well…

Q: Person A has a take home pay of 3980 and wishes to spend only 1/4 of this pay on a monthly house…

A: A written agreement through which a lender gets the right to take the property that is put as a…

Q: Max bought some furniture for his new apartment. Macy's offered him the opportunity to "borrow" the…

A: The Annual Percentage Rate (APR), which is a yearly interest rate that includes both interest and…

Q: You have decided to purchase a new car that costs $44,500. You need to make a 20% down payment, then…

A: Present value of annuity is computed as follows:-PV = A * wherePV = Present value of annuityA =…

Q: Arden wants to buy a new generator the generator cost $2200 Arden decides to finance the generator…

A: A loan refers to a contract between two parties where money is forwarded by one party to the other…

Q: You need a loan of $150,000 to buy a home. Calculate your monthly payments and total closing costs…

A: An annuity is a series of equal cash flows discounted at an assumed interest rate over a specified…

Q: Maximum house you can afford. You have an income of $70,000 per year. You are applying for a 4.5%,…

A: Loan repayment requires extending periodic payments which can be monthly, quarterly, or annually.…

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: Duane Miller wants to know what price home he can afford. His annual gross income is $67,200. He has…

A: Annual gross income =$67200.   Monthly salary = $67200/12 = $5600

Q: Meg O’Byte wants to buy a new computer for her business for Internetaccess on a cable modem. The…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Corey buys 10 Tufflift 4-post, 4.5-ton car hoists for his parking garage at a total cost of…

A: Future value of amount formula:-FV = A * (1+r)nwhere,FV = future value of amountA = Amount…

Q: What is the formula needed for Excel to find the monthly payment

A: Re-payment of loan undertaken is as per the decided terms between the loan provider and receiver.…

Q: The Potters want to buy a small cottage costing $119,000 with annual insurance and taxes of $760 and…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: You need a loan of ​$110,000 to buy a home. Calculate your monthly payments and total closing costs…

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…