The price of a home is $220,000, financed at 7% with a 30 year fixed rate. 20% down and 3 points required by the bank at closing.  What is the monthly payment? How much must be paid for the 3 points at closing?

Q: Brad decides to purchase a $205,000 house. He wants to finance the entire balance. He has received…

A: The objective of this question is to calculate the total cost that Brad will incur if he takes all…

Q: 5 years ago you purchased a home for $215,000. You made a 10% down payment and paid for the rest…

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Q: andy wants to buy a car that costs $28,750. The dealership will finance the car for 4 years, at…

A: To calculate the down payment of the car.

Q: You want to purchase a new car in 4 years and expect the car to cost ​$78000. Your bank offers a…

A: For finding the monthly payment when the amount, rate, and time are given, the formula is…

Q: You owe $3545 on you credit card. Your minimum payment is 3% of that. The APR is 14.99% Using that…

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Q: Ellen has maxed out her credit card at $17,500 and vows not to make any other credit card purchases.…

A: Given:Principal= $17500Minimum monthly payment = 1.8% of interest per month + 4% of Principal…

Q: The balance of my MasterCard is $2345.67 with an APR of 27.8%. I make the minimum payment of $125 a…

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Q: Dennis plans to save $74,400.00 per year for 4 years. His first savings contribution is expected…

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Q: you can buy a car for $25200 or lease the same car for 3 years for a down payment of $1500 and…

A: Consider the given information.  The basic price of the car is $25200.    If you are taking a car on…

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Q: You can afford a monthly payment of $375 for a new car loan.  You want the loan to last for 5 years…

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Q: The price of a car is $25,000. You have saved 25% of the price as a down payment. After the down…

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Q: You can buy a car for $25,200 or lease the same car for three years for a down payment of $1,500 and…

A: From the given information, it is observed that the basic price of the car is $25,200. If the car is…

Q: Alyssa puts $4000 into a saving plan for 10 years at 7.8% annual simple interest. Four years into…

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Q: You owe $3545 on you credit card. Your minimum payment is 3% of that. What is your minimum payment?

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Q: A loan is used to purchase a new truck. the total price of the truck

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Q: If your credit card balance is $ 410.35, what would be the minimum payment on your bill if you are…

A: Money owed  =  $410.35    3% of this money is  =3100×410·35  =$12.3105    As 3% of $410.35 =…

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

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A: Kara makes a monthly payment of = $175

Q: You can afford a $250 per month car payment. You've found a 3 year loan at 4% interest. How big of a…

A: The objective of this question is to find out the total loan amount that can be afforded with a…