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You can afford a $350 per month car payment. You've found a 3 year loan at 6% interest. How big of a loan can you afford?
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- Cash Flow& AnnuityDEFERRED ANNUITY annually, how much will the girl receive yearly?Bobby was desperate. He borrowed $600 from a pawn shop and understood he was to repay the loan starting next month with $100, increasing by $10 per month for a total of 8 months. Actually, he misunderstood. The repayments increased by 10% each month after starting next month at $100. Use a spreadsheet to calculate the monthly interest rate that he thought he was to pay, and what he actually will pay.
- Ella Stein paid $187.50 interest on a loan of $12,000 for 3 months. What was the rate of interest she paid?A set aside $500 annually in a trust fund which allows interest at 5% effective. What amount does A have to his credit just after the 15th deposit has been made?What is the compounding process?
- jerry bought a house for $400,000 and made an $80,000 down payment. the rest of the cost was paid with a 30 year loan. payments were paid monthly. the nominal annual interest rate was 6% after 10 years he sold the house and paid the remainder of the loan balance. A- what was his monthly loan payment? B- what was the loan payoff amount?A certain amount of money doubles after 9 years. Determine its effective interest.need some help pl and thanks in advance
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