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- Yuli plans to purchase a vehicle, and she is working with two bank offers. . Bank One Loan Offer: $73,800, 6% annual interest, 60 months. . Bank Two Loan Offer: $73,800, 3% annual interest, 84 months. Yuli's ultimate financial goal is to select the loan with the lowest monthly payment regardless of duration. Based on her financial goal, which loan will Yuli choose? O A. Bank One: Loan Offer O B. Bank Two: Loan Offer OC. Both monthly payments are the same. O D. Not enough information given to answer the question.Karen has a QuikTrip credit card. The card has a balance of $988.62 with an APR of 28.75%. The QuikTrip expects the minimum payment to be 4.1% of the balance. What is Karen’s minimum payment? How long will it take Karen to pay off her QuikTrip credit card? How much interest will Karen pay if she only pays the minimum payment? Show steps2. Remi deposits $2,000 into a savings account at her bank. If the interest rate is 3.25 percent, how much money will she have in her account after 5 years? 7. You are Co introductory rate months and the rate be entered into a drawin commercial. You pay $50 a you switch? Use the smart dec mathematically and include an em
- Lucy Heartfillia buy a television set from a merchant who offers P25,000 at the end of 60 days. She wishes to pay immediately and the merchant offers to compute the required amount on the assumption that money is worth 14% simple interest. What is the required amount?Nadia needs to borrow $5000 to pay for ocean cruise tickets for her family. She can borrow from a finance company (at 2.77% add-on interest for 4 years) or she can borrow from a credit union (48 monthly payments of $114.58 each). Find the APR (to the nearest 0.01%) for each loan, and decide which one is Nadia's better choice. The APR for the finance company loan is (Type an integer or decimal rounded to the nearest hundredth as needed.)You are a financial adviser working with a client who wants to retire in eight years. The client has a savings account with a local bank that pays 9% annual interest. Tne client warts to deposit an amount that will provide her with $1,000,000 when she retires. Currently, she has $300,000 in the account. EV of $1, PVof $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) How much additional money should she deposit now to provide her with $1,000,000 when she retires? (Round your answer to nearest whole dollar.) Additional deposit amount
- 不 Claire needs to borrow $5000 to pay for NHL season tickets for her family. She can borrow from a finance company (at 2.78% add on interest for 5 years) or she can borrow from credit union (60 monthly payments of $03 78 each). Find the APR for each loan using a TVM solver, and decide which one is Claire's better choice The APR for the finance company loan is (Type an integer or decimal rounded to the nearest hundredth as needed)You wish to buy a car at a cost of $45,000. Ford Credit will finance the car at 3.9%/year over 48 months OR you can receive a rebate of $1,500 and finance through your credit union at 9.7%/year over 48 months. How should you finance your car and what are your monthly payments? How much of a rebate would Ford have to give to make you indifferent to the financing? Round final answers to 2 decimal places. Show your work in detail for full credit. 27043 16:2206 26-01-201 301-4022- 050-4372Mary would like to save $10,000 at the end of 5 years for a future down payment on a car. a. How much should she deposit at the end of each month in a savings account that pays 1.2%/a, compounded monthly, to meet her goal? b. If you currently have a part-time job, consider your hourly wage. If you do not have a job, use the minimum hourly wage in your jurisdiction. How many hours each month would you have to work, just to make those payments? Write a brief reflection on the advantages and disadvantages to long-term saving for a purchase, compared to borrowing a large sum of money and paying it off over time. Note that interest rates for savings accounts are always lower than interest rates for borrowing.
- Anne buys a television set from a merchant who asks for P1,250 at the end of 60 days. Mr. Ureta wishes to pay immediately and the merchant offers to compute the cash price on the assumption that the money is worth 13% simple interest. What is the cash price? A. P 1,342.12 B. P1,223.45 C. P 1,233.55 D. P 1,324.21Angela has a Macy’s credit card. The card has a balance of $2088.74 with an APR of 28.99%. Macy’s expects the minimum payment to be 3.9% of the balance. What is Angela’s minimum payment? How long will it take Angela to pay off her Macy’s credit card? How much interest will Angela pay if she only pays the minimum payment? Show steps.4) Brenda is buying a living room set for her home. At Furniture, Inc., she picks out a set for a total cash price of $1,899 The salesperson tells her if she qualifies for an installment loan, she may pay 10% down and finance the balance with payments of $88.35 per month for 24 months?