Suppose that your gross monthly income is 2000, what is the maximum amount you should spend each month on a mortgage payment? Spend no more than 28% of your gross monthly income for your mortgage payment. 280 720 560 500

Q: A gold mining company discovers a new vein to start mining. The geologists project this mine will…

A: Let P be the present value of this mine f(t)=$400000 T=15years Rate of interest,r=3.5%=0.035

Q: A lump sum of 4190 dollars is invested in an annuity that pays 9.2 percent interest compounded…

A:

Q: Sam borrows $28 000 to buy a new car at a flat interest rate of 9% per annum over 3 years. How much…

A: It's a question of flat (simple) interest rate. We will calculate interest, add the same to the…

Q: Assume a 6 month CD purchase for 5,000 pays simple interest at an annual rate of 9.5. How much…

A:

Q: $ 9000 loan is to be paid in 3 years at 3.6% compound interest per year, the accrued interest and…

A: =>Total amount of money to pay off the loan = Total payment at the end of first year +Total…

Q: A credit card offers no interest no payments for 12 months. You make a purchase of $3500. You make…

A: purchase made A= $3500 monthly payments m= $300 Amount made during the first year (11 payments)…

Q: You deposit $1000, and it grows to $1,500 in 5 years.  What is your annual return?

A:

Q: 5 years ago you purchased a home for $215,000. You made a 10% down payment and paid for the rest…

A:

Q: You borrowed $120,000 for a house and will have to pay $1,090 a month for 15 years. True or False:…

A: We can say it true or false with reason as below.

Q: If you pay your friend 15$ each month for 20 months to repay a loan, what is the total cost of the…

A: Explanation of the answer is as follows

Q: Start working with a savings account with a quarter in it and your boss doubles it each day for…

A:

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: Carlos takes out a loan for $10,300, at 8% ordinary interest. If the amount of interest is $329.60,…

A:

Q: You owe $3545 on you credit card. Your minimum payment is 3% of that. The APR is 14.99% Using that…

A:

Q: After retiring, Delaney wants to be able to withdraw $4,000.00 every month from her account for 25…

A: We will find out the required value .

Q: You deposit $200 monthly in a saving plan with APR of 6% for 10 years.  How much would your…

A: The APR stands for annual percentage rate which represents the rate at which the amount will…

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

A:

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: Let the monthly payment be P . It is provided that future value, A=10000 . The rate of interest, r…

Q: A man wants to set up a 529 college savings account for his granddaughter. How much would he need to…

A:

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

A:

Q: a car costs $12500 and youre offered a loan that requires $800 down and a monthly payment of 228.29…

A: Monthly payments of 228.29 for 66 months contribute to 228.29*66 = 15067.14   And 800 down payment.…

Q: Clark earns 2.5% interest on a savings account each year. If Clark the posit $2000 into a savings…

A: Formula: Since formula for simple interest: I=(P×R×T) /100 P=principle amount R= rate of interest…

Q: You have 300,000 saved for retirement. Your account earns 4% interest. How much will you be able to…

A: Given that, You have 300,000 saved for retirement. Your account earns 4% interest. We need to find…

Q: A loan of $37,000 is made at 5.75% interest, compounded annually. After how many years will the…

A: