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: 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: Find the APR (rounded to the nearest tenth of a percent) for the loan described below. Purchased a…

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

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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…

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Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: Calculate the simple interest due on a 66-day loan of $3700 if the interest rate is 4%. (Round your…

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Q: Consider a credit card with a balance of $8500$ and an APR of 12.5%. If you want to make monthly…

A: The objective of this question is to calculate the total amount paid over a period of 3 years to…

Q: What is the monthly payment on a 25 year loan of $67,800 if the annual interest rate is 5%?

A: We have Principal loan amount, P = $67,800 Annual interest rate r = 5% = 0.05 Number of monthly…

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…

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Q: Suppose you obtain a 30-year mortgage loan of $194,000 at an annual interest rate of 7.9%. The…

A: We have to find out answer of given question....

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: Find the monthly payments (just PMT) on a 20-year mortgage for $191,888 if the annual interest rate…

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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: 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: You need a home loan of $65,000 after your down payment. How much will your monthly house payment be…

A: Given, Principal amount of the loan(P) = $65,000 Monthly interest rate(i) = 5.25100×12 = 0.004375…