Sarah is shopping for a car, and she has $2,000 to make a down payment. She finds a car that she likes for $13,500. Her bank is willing to finance the purchase at an interest rate of 7.5 percent peryear for a maximum of 5 years.Find the total of her payments (principal and interest) over the term of the loan. (answer in whole number)

The compound interest formula is given by A=P(1+r100)t where A is the final amount, P is the initial…

Answered: Sarah is shopping for a car, and she…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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You are thinking of purchasing a house. The house costs $200,000. You have $29,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 9% per year. What will be your annual payment if you sign this mortgage? The annual payment is $ (Round to the nearest dollar.)
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Haylee takes the family out to dinner to celebrate her grandmother's birthday. There are 15 people, and the cost for each person is $19.00. The automatic gratuity for this size of a group is 15% and the sales tax is 6.9%. How much will dinner for this party cost?Haylee's family received excellent service at this dinner and decided to add 5% more to the tip. What will they pay with the added tip?Haylee's 2 sisters decide they want to help pay for the meal and they agree to split the bill between the 3 of them. How much will each pay if they split everything evenly?
A woman uses a loan program for small businesses to obtain a loan to help expand her vending machine business. The woman borrows $25,000 for 2 years with a simple interest rate of 1.8%. Determine the amount of money the woman must repay after 2 years. The woman must repay S
Joe decided to open up his own business but it will require him to purchase a building for $225,975. He can afford a 5% down payment but will need to finance the rest. He is preapproved for 3.85% for 15 years. How much will be his monthly payment?
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