Suppose that you decide to buy a car for $30,635, including taxes and license fees. You saved $8000 for a down PA payment and can get a four-year car loan at 5.86%. Use PMT= total interest for the loan. The monthly payment is $ 1-1+ nt to find the monthly payment and the D

Q: eposits $8600 in a bank account that pays a simple interest rate of 6.5% per annum. find how long it…

A: Given that  Principal amount (P) = $8600 Interest rate (R) = 6.5% per annum = 0.065   We know that…

Q: Find the total cost of the down payment at 10% the cost of your house.   House is 170,000

A: Given cost of the house is $170,000 down payment is 10%

Q: Mr. John borrows money from a friend with simple interest of 12%, find the present worth of $25,000…

A: If the interest is simple, then the formula used is A=P(1+rt), where A is the final amount, P is the…

Q: You have $500,000 saved for retirement. Your account earns 5% interest. How much will you be able to…

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Q: Brett borrowed $16,000 at 7.2% interest to buy a car. It is a 8-year loan. Find the monthly…

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Q: Suppose that you took out a loan at 12% interest for 200 days. If the amount of interest was…

A: You can calculate Interest on your loans and investments by using the following formula for…

Q: Suppose you’d like to save enough money to pay cash for your next used car. The goal is to save an…

A: Given that, to save an extra $8000 over the next three years.To find the amount of monthly payments…

Q: Find the monthly payment (in $) and the total interest (in $) for a mortgage of $42,000 at 52% for…

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Q: Suppose that you decide to buy a car for $24,635, including taxes and license fees. You saved $6000…

A: Simple interest formula for an amount P at an interest rate of r% for t years is given by the…

Q: You have $300,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

A: It is given that,      r= annual interest rate=8%=0.08      k=monthly compounding=12      N=number…

Q: Suppose that you decide to buy a car for $32,635, including taxes and license fees. You saved $9000…

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Q: You take a loan from your local bank. Determine the interest that is accrued on $7000 for five years…

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Q: you can buy a car for $25200 or lease the same car for 3 years for a down payment of $1500 and…

A: Consider the given information.  The basic price of the car is $25200.    If you are taking a car on…

Q: Suppose that you borrow $17,000 for four years at 6 ​%  toward the purchase of a car. Use PMT equals…

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Q: If you purchase a $600 item and pay for it with monthly installments for 2 years, the monthly…

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Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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Q: Find the interest for a principal of $8883, rate 9.3% and 5 years.

A: According to the question,  We have: Principal = P = $8883 Rate of Interest = R= 9.3% Time period =…

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

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Q: Carlos Menton purchases a new laptop computer from Knox Computer Solutions for $1499. If the sales…

A: Given: Purchase price = $1499 Sales tax rate = 4.25% r = 8.4% = 0.084 t = 3  n = 12 Formula Used:…

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

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Q: A loan for a new tractor is to be simple interest. The rate is 7.2% for 6 years on $43,400. How much…

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