Suppose you want to purchase a $ 165000 house. If you put 20% down and finance the rest in a 25 year mortgage at an interest rate of 5.5%, what will your monthly payments be?

Q: Suppose that a car that you want costs $11000. You make a down payment of $1000 and finance the…

A: Car cost: $11000.  Down payment: $1000 Time: 4 yearInterest: 1.9% p. a.

Q: An apartment is sold cash at 500,000$. By installment you pay 20% of the apartment cash price as…

A: Given data :- cash price of apartment =500,000$ monthly payment = 7000$ Total number of month for…

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: What would the monthly payment be on a purchase of $10,000 car at a 5.9% fixed annual interest rate…

A: Formula for the ordinary annuity is  FV=R1+in-1i where R is the regular deposit, i is the periodic…

Q: Suppose Lorenzo wants to buy a truck. The dealer offers a financing package consisting of a 6% APR…

A: Suppose Lorenzo wants to buy a truck. The dealer offers a financing package consisting of a 6% APR…

Q: Ms. Sherlyn borrowed $50000 for six years at 12% annual interest rate compounded monthly. If both…

A: Problems related to compound interest with the given data

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

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Q: Gregory Mines Corporation wishes to purchase a new piece of equipment in 4 years. The estimated…

A: it is known that  number of compounding factor = lengths of time ×4 given length of time = 4 years…

Q: Suppose you have a $175,000 30-year mortgage with a 4.5% interest rate on the loan. b. How much will…

A: Given that, the loan amount is P=$175,000, interest rate r=4.5%, time n=30 years and due is monthly…

Q: Suppose you can afford to pay $ 475 a month for 7 years towards a new car with no down payment. If…

A: Given Monthly interest rate=4.25%/12 Number of months =7*12

Q: Suppose you can afford to pay $300 a month for 5 years towards a new car with no down payment. If…

A: Suppose you can afford to pay $300 a month for 5 years towards a new car Then the Future Value of…

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: A couple borrows $250,000 to purchase their first home.  If the bank charges the couple 6.0%…

A: Given:    P = 250000   n = 12 ( compounded Monthly )   t = 30    r = 6% = 6/100 = 0.06

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: how expensive of a mortgage can you afford?

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Q: The Dalton family is purchasing a $135,000 house. They plan to make a 20% down payment. The bank…

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Q: Olivia plans to secure a 5-year balloon mortgage of $210,000 toward the purchase of a condominium.…

A: For given balloon mortgage of $210000 with interest rate of 4%/year compounded monthly  we have to…

Q: Suppose you want a $22,000 car right now, but cannot afford it so you instead get a loan. The loan…

A: Given Suppose you want a $22,000 car right now, but cannot afford it so you instead get a loan. The…

Q: Suppose that 10 years ago you bought a home for $120,000, paying 10% as a down payment, and…

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Q: If you take out a 5-year loan for $10,000 at 3% interest compounded monthly, what is the size of…

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Q: Tom and Linda have been approved for an $185,000, 15-year mortgage with an APR of 5.35%. What will…

A: Since the given term is APR then we have to compute simple interest. The formula for simple interest…

Q: You have the option to take out a 30 year mortgage with an APR of 4.9% what will your monthly…

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Q: Suppose that you borrow ​$3000.00 from a friend and promise to pay back ​$4755.00 in 3 years.…

A: It is given that the principal is 3000, balance is 4755 and time is 3 years. The formula to evaluate…