Suppose you have budgeted $ 1130 a month towards a mortgage. If you are offered a 30 year mortgage at an interest rate of 8%, how expensive a home mortgage can you afford?

Q: Your uncle still wouldn't help you after you found your new job. The bills are right this month, so…

A: Solution:- Your uncle still wouldn't help you after you found your new job. The bills are right this…

Q: Suppose you see a car with a price of $12,000 that is advertised at $300 per month for 5 years. What…

A: Given: Price of the car=$12000, Payment=$300 per month, time=5 years.

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: Suppose you want to accumulate $25,000 as down payment on a house and the best you can do is to put…

A: The number of monthly installments required to get a certain FV n=ln(Fvi+cp)-ln(cp)ln(c+i)-ln c FV =…

Q: John wants to retire with $10,000 per month, how much principal is necessary to generate this amount…

A: Use the formula I=Prt100, where P is principal, and r is the rate of interest, t is the time.,…

Q: If an interest rate of 5% results in interest of $50, what is the principal amount of the loan?

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Q: If I can afford $420 a month for a car over the course of 6 years with an interest rate of 6.9% how…

A: If I can afford $420 a month for a car over the course of 6 years with an interest rate of 6.9% To…

Q: Find the interest paid on a 30-year mortgage of $350,000 at an APR of   6%.

A: Given, interest paid on a 30-year mortgage of $350,000 at an APR of   6%.

Q: Suppose you borrow $500 from a payday loan company and you agree to pay back $550 in three months.…

A: Suppose you borrow $500 from a payday loan company and you agree top ay back $550 in three months.…

Q: minimum

A: The mortgage formula is given by: M=P.r1+rn1+rn-1, where it is given that P=$175,000, r=0.04512 and…

Q: Suppose you have budgeted $ 1025 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Let x be the mortgage amount that offered.

Q: If $800 is borrowed and the interest after 6 months is $72, what is the annual interest rate for a…

A:

Q: ppose you have budgeted $ 1235 a month towards a mortgage. If you are offered a 30 year mortgage at…

A: Given Monthly payment=$1235 N=30*12=360 R=8.25/12=0.6875%

Q: If Richard pays the minimum payment of $20.00 and the interest rate for his credit card is 2.1% per…

A: The objective of this question is to calculate the finance charge for Richard's credit card for the…

Q: how expensive of a mortgage can you afford?

A:

Q: A loan of 750000 needs to be paid in annual installments by the end of every year. The interest rate…

A:

Q: If the interest on a loan amount $3500 for 1 years is $132. Then the rate of interest is O 2.65%…

A:

Q: What interest will be charged on a $1200 loan for 9 months if the rate is 12%simple interest

A: In the given question we have to calculate the simple interest on $1200 loan for 9 months at the…

Q: A borrower is repaying a $1000 loan with 10 equal payments of principal. Interest at 6% convertible…

A: Given: A borrower is repaying a $1000 loan with 10 equal payments of principal  Interest at 6%…

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: Suppose that Juanita borrows $500 for 6 months at the simple interest rate of 9% per annum. What is…

A: Given :- Suppose that Juanita borrows $500 for 6 months at the simple interest rate of 9% per annum.…

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: Given:  you borrow $10,000 for four years at 8% toward the purchase of a car To determine; The…

Q: Suppose you have a credit card bill of $1,275 for the month of October. If you pay the full balance…

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Q: If you have a reducing balance loan at 7.5% and you repay it each month, paying $850 a month. How…

A: To calculate the interest paid by the end of the second month on a reducing balance loan, we need to…

Q: If you borrowed $10,000 for 9 months at 12% annual simple interest, how much must you repay at the…

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