The policy at the local pawnshop is to lend up to 35% of the value of the borrower’s collateral. John wants to use a $3,000 ring and a $1,200 necklace as collateral for a loan. What is the maximum amount that he could borrow?

Q: ou want to buy a home but not take out a mortgage. You want to buy it outright when you are able to…

A: Future value is the value of present cashflow compounded to future date at specified rate. formula:…

Q: When preparing for a business trip to China, Kaylee Putbrese borrow for a simple discount note at 5%…

A: A simple discount, also known as a bank discount, is a financial concept that refers to the interest…

Q: Paul Stetson is offered credit terms of 3/10 net 40 by his suppliers. Paul, however, usually pays in…

A: I advise Paul Stetson not to take the bank loan and instead prioritize paying his suppliers within…

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

A:

Q: Tina Mier must pay a $5,000 furniture bill. A finance company will loan Tina $5,000 for 8 months at…

A: Interest=Rate×Principal×Time×1100

Q: You see that First National Bank is willing to make you a four-year $40,000 car loan with an…

A: Variables in the question:Interest charged on car loan =4.2%Interest charged on credit card=16.5%

Q: suppose that you decide to borrow $15,000 for a new car. you can select one of the following loans,…

A: a.Loan ALoan Amount (pv) = $15,000Interest Rate (rate) = 5.9%Time Period = 3 YearsNumber of Payments…

Q: You would like to buy a house that costs $350,000. You have $50,000 in cash that you can put down on…

A: Balloon payment calculation:

Q: your home was recently appraised for $176,000. The balance on your existing mortgage is $111,500. If…

A: A home equity loan is a financial option that enables homeowners to borrow against the equity…

Q: A family wants to purchase a house that costs $135,000. They plan to take out a $125,000 mortgage on…

A: A mortgage is a loan on a property where the collateral is the property itself.

Q: Dennis Lamenti wants to buy a new car that costs $15,326.72. He has two possible loans in mind. One…

A: In this question, we have to find out the monthly payment of loan

Q: Rahul needs a loan and is speaking to several lending agencies about the interest rates they would…

A: Bank certification of deposits, savings account, or loan offer may indeed be promoted with both the…

Q: your net worth

A: The net worth refers to the total wealth of any individual or company. It is very important  to…

Q: Zachary Porter of Abilene, Kansas, is contemplating borrowing $10,000 from his bank. The bank could…

A: Add-on Method As per this method, the interest is calculated at the start of the loan. It is then…

Q: What is the effective interest rate

A: Effective Annual Rate is a modified rate of return where it considers the compounding effect.…

Q: You are planning to buy an used car from a local dealer. The list price of the car is $12,000. If…

A: List Price of Car = $12,000Down Payment = $5,500Cash cost of car = $11,000Bank Interest rate =…

Q: Jackson investigated loans for a $15,575 car. What might happen if he found a car he liked for…

A: A) False. If Jackson found a car, he liked for $10,000 instead of the original $15,575, he will…

Q: adams awesome pawnshop will lend up to 42% of the value of a borrowers collaterals. andy wants to…

A: Pawnshops issue a loan on the basis of the value of the collateral offered by the borrower. Once the…

Q: You own a home that was recently appraised for $370,000. The balance on your existing mortgage is…

A: working notes: Net  Appraised Value =$3,70,000*70% =$259,000

Q: Ursula wants to buy a $21,000 used car. She has savings of​ $2,000 plus an​ $800 trade-in. She wants…

A: The monthly payment is the payment that includes the principal amount as well as interest amount and…

Q: A customer wants to buy a house with a cash value of 1,000,000 riyals, and the customer will pay 40%…

A: Future value is the value of the current assets or some amount that is invested today and amount…

Q: You would like to buy a house that costs $350,000. You have $50,000 in cash that you can put down on…

A: PV is the current worth of cash flows that are expected to occur in the future.

Q: Vijay

A: The objective of the question is to determine whether Paul Stetson should borrow money from his bank…

Q: Suppose Daryl spontaneously decides to treat all his friends to pizza, drinks, and dessert at a…

A: Loans are paid by equal monthly payments and these payments carry interest and loan payments.

Q: After visiting several automobile dealerships, Richard selects the car he wants. He likes its…

A: Cost of car $ 12,000.00Down Payment $   2,400.00Loan amount $   9,600.00Maturity period5Interest…

Q: Sarah negotiated a price of $24,800.00 for a new Toyota Camry Hybrid Sedan. She is prepared to give…

A: Price of Sedan = $24,800Down Payment Rate = 15%Compound = Monthly = 12Time = t = 5 * 12 = 60Interest…

Q: Barry Wood wants to buy a used car that costs $5000. He has two possible loans in mind. One loan is…

A: According to the given information, find the following monthly payment and total interest paid.

Q: nnis Lamenti wants to buy a new car that costs $15,326.72. He has two possible loans in mind. One…

A: In this question, we have to find out the interest paid on loan by dealer and by bank

Q: ou have agreed to loan some money to a friend at a simple interest rate of 62% your friend needs a…

A: Rate = 62% Principal = $1470 Maturity Value =$3200 Interest = $3200 -$1470 Interest = $1730

Q: A buyer wants to purchase a home for $150,000 with a 30% down payment. The lender charges 1.75…

A:

Q: A house is selling for $180,000 and the seller owes $140,000. The borrower is short $40,000 for the…

A: In above problem, one payment is subordinate to other and generated from principal mortgage.

Q: Big Sean is buying a new truck from Willie’s Auto Sales, the dealer is providing the financing and…

A: Calculation of monthly payment: Answer: Monthly payment is $995.40