You just purchased a secondhand BMW. The car cost RM136,000. The bank quotes an interest rate of 10% APR for a 72-month loan with a 10% down payment. You plan on trading the vehicle for a new one in two years. What will your monthly payment be? What is the effective interest rate on the loan? What will be the loan balance be when you trade the car in?

Q: An account with an initial balance of 1500 earns 7% interest for 1.5 years. What is the ending…

A: Given:   Initial Amount P = 1500   Interest rate r = 7%   Time = 1.5 years   Find ending balance A…

Q: Mr. Tan borrowed ₱15,000 from the faculty fund at 13.25% simple interest for 210 days. How much…

A:

Q: Mr. John borrows money from a friend with simple interest of 12%, find the present worth of $25,000…

A: If the interest is simple, then the formula used is A=P(1+rt), where A is the final amount, P is the…

Q: A credit card offers no interest no payments for 12 months. You make a purchase of $3500. You make…

A: purchase made A= $3500 monthly payments m= $300 Amount made during the first year (11 payments)…

Q: Find the principal if the interest is ₱3500, the rate is 4.5% and the time is 1.75 years.

A:

Q: A student loan of R25000 is to be repaid by regular monthly installments over 60 months. If the…

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Q: You buy a car for$12000 on simple interest at 6% for 5 years. You will be financing the car plus…

A: You buy a car for$12000 on simple interest at 6% for 5 years. You will be financing the car plus…

Q: You invest $10,000 in the Big Delta mutual fund. Over 5 years, your investment grows in value to…

A: According to the given data Initial investment is $10000 After 5 years it becomes $17320 That means…

Q: Ms. Saya got a business loan worth P500,000.00. She promised to pay the loan semi-annually in 2…

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Q: present value of the loan

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Q: Kelly purchased her first new car last week for $20 406, taxes included. The loan representative at…

A: The depreciation equation for an amount P whose value is decreasing at  a rate of r% per year for n…

Q: Find the simple interest rate of the principal of Php. 15,000 with simple interest of Php. 30,000…

A: Given: Simple interest I=30000 Time (years) t=5 Principal Value P=15000 We have to find Simple…

Q: A vendor borrows a certain amount of money at 8% simple interest for 3 months. Determine the…

A: We know that the simple interest formula is I = Prt  P is the principal amount. r is the interest…

Q: much is the monthly payment?

A: To find the monthly payment.

Q: Patty took out a payday loan for $700 due in 2 weeks that charged a $140 fee. What is the periodic…

A: We can find the annual  rate of interest as follows

Q: You want to lease a condominium. The lease costs P220,000 this year and it will increase by 5% a…

A: