Suppose you buy  $3300 worth of furniture for a new house. The furniture store is offering a fixed installment loan with three-year financing with no money down at  11.94%  annual interest. What is the monthly payment? Round your answer to the nearest cent.

Q: Nina and Michael have been approved for a $300,000 30-year mortgage with an APR of 5.25%. How much…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Your friend is going to borrow $150,000 using a 30 year mortgage with a 4.25% APR. Which of the…

A: Monthly mortage payment formula for borrowing amount (M), years of mortage (t) and rate of interest…

Q: Callie calculates the monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate. With…

A: Given : The monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate.

Q: Larry purchased a new combine that cost $270,500, minus a rebate of $4,500, a trade-in of $7,500,…

A:

Q: Find the monthly payment for the loan. Used car financing for $600,000 for 25 months at 11.75%.…

A: here we have to find the monthly payment for the loan. PV (present value of car) = $600,000 n(number…

Q: Melissa Hernandez received an 8-year subsidized student loan of $25,000 at an annual interest rate…

A: We have given the amount of loan, the annual interest rate and the time period

Q: Your parents are buying a house for $187,500. They have a good credit rating, are making a 20% down…

A:

Q: Find the amount of simple interest on a loan of $2,500 at 4.22% interest for 13.75 months. (Round to…

A: Interest=$2500*12.75 months*4.44%

Q: To buy the home you love, you will need to take out a $615,000 loan with a 4.1% fixed interest rate…

A: Here we will use EMI on loan formula

Q: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

A: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

Q: What is the total amount of a 3-year loan of $1000 to be repaid at an interest rate of 5%, using the…

A:

Q: The simple interest charged on a 9-month loan of $11,000 is $681. Find the simple interest rate.…

A: We are asked to find the interest rate. We are given I = $681, P = $11,000, t = 9 months, and r = ?.…

Q: Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments…

A: Consider the provided question, Borrowers who have taken installment loans sometimes wish to prepay…

Q: James has a mortgage of $96,500 at 4% for 15 years. The property taxes are $3,900 per year, and the…

A: NOTE: Refresh your page if you can't see any equations. . here we have L=96500 r=4% t=15 years The…

Q: Your employer is converting from a semimonthly pay period to biweekly pays. If you currently make…

A: To convert from a semimonthly pay period to a biweekly pay period, we can use the following formula…

Q: ou purchase a cottage for $185,000. You obtain a 25-year, fixed rate mortgage loan at 12.5% after…

A: Given: The price of the cottage is $185,000. The loan period (t) is 25 years. The annual rate (r) is…

Q: Consider a 30-year fixed-rate home loan of $515,500 with an interest rate of 3.75%. What is the…

A: Let  L, c and n denote the loan amount, the rate of interest per payment and the number of payments.…

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: Consider a 20-year mortgage for $194,811 at an annual interest rate of 5.3%. After 8 years, the…

A: Consider a 20-year mortgage for $194,811 at an annual interest rate of 5.3%. After 8 years, the…