Steven wants to buy a new couch priced at $558 and agrees to pay for it over two years with a finance charge of 4.8% simple annual interest. How much will his monthly payment be?

Q: Lynn needs to borrow $5500 for cosmetic surgery. She obtains a loan from her grandmother for 48…

A: Given: Lynn borrows a loan for cosmetic surgery of $5500 at simple interest rate 7.3% for 48 months.

Q: Anna's employer covers 80% of the cost of a $5700-per-year health insurance plan, and her share of…

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Q: What is the total cost of a house you purchased with $20,000 as a down payment and monthly payments…

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Q: to make a balloon payment (large single payment) of $29,367.71 in 10 years. T on payment, you will…

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Q: Morgan loaned $3,100 to Rolf at a simple interest rate of 0.65% per month. What was the  term of the…

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Q: Wayne Pinski wishes to buy a stove and a refrigerator from an appliance dealer. The cost of the two…

A: Consider that the combined price of the two items is, $2800 down payment is  $700 Therefore, the…

Q: Andy wants to buy a car that costs $22,750. The dealership will finance the car for 5 years, at…

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Q: Your total payment on a 4-year loan, which charged 8.5% simple interest, amounted to $70,160. How…

A: The objective of this question is to find out the original amount borrowed given the total payment…

Q: Mr. and Mrs. Wang want to buy a house that costs $745,000. They plan to put 20% down. They are…

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Q: Your total payment on a 4-year loan, which charged 8.5% simple interest, amounted to $70,160. How…

A: The objective of this question is to find out the original amount borrowed for a loan, given the…

Q: The minimum monthly payment for Brian's credit card is 3.5% of his balance or $25, whichever is…

A: Brian's balance at the end of his billing cycle=$722 The minimum monthly payment for Brian's credit…

Q: Steven wants to buy a new couch priced at $705 and agrees to pay for it over two years with a…

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Q: The price of a small cabin is $40,000. The bank requires a 5% down payment. The buyer is offered two…

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Q: Dr. Gupta is considering a 30-year mortgage at 6% interest. She can make payments of $3500 a month.…

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Q: You purchased your house through a contract for deed.  In addition to regular monthly payments, you…

A: Ballon payment (FV)=29367.71 Number of years n=10Annual payment (r)=3% =0.03The formula for…

Q: Wayne Pinski wishes to buy a stove and a refrigerator from an appliance dealer. The cost of the two…

A: Total cost of stove and refrigerator is $2800 down payment is $600. So remaining cost to be paid is…

Q: Harry Taylor plans to pay an ordinary annuity of ​$4,800 annually for ten years so he can take a​…

A: Future value of annuity = A x [{(1 + i)^n - 1} / i]where,i = interest raten = number of periodsA =…

Q: Marisa leases a car that has a purchase price of $63,500 with an MSRP of $66,950 and decides to…

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Q: You can buy a car for $25,200 or lease the same car for three years for a down payment of $1,500 and…

A: From the given information, it is observed that the basic price of the car is $25,200. If the car is…

Q: You buy a house for $280,000 and pay $25,000 down.  The rest is financed for 30 years at 6.5%…

A: Here, Value of House is $280,000 Down Payment is $25,000 Loan Amount (PV) is: Interest Rate (Rate)…

Q: The house you find that would accommodate your growing family costs $295,000. You obtain a 30-year…

A: Loan amountinterest rate per month, number of periods in 30 years,

Q: a repa

A: Kara makes a monthly payment of = $175

Q: Mary and Kevin buy a vacation home for $350,000 down and take out a 15- year mortgage for the…

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