You want to purchase a computer that has a price of $2206 plus 5% sales tax, and you decide to pay for it with installments over 9 years. The store tells you that the interest rate is 13%. What is the amount of each monthly payment? Round to the nearest hundredths.

Q: Jeremy gets a 4-year simple interest loan from the local bank. If the loan is for $8,938 and the…

A: Given: Jeremy gets a 4-year simple interest loan from the local bank. The loan amount is $8,938 and…

Q: Find the total cost of the down payment at 10% the cost of your house.   House is 170,000

A: Given cost of the house is $170,000 down payment is 10%

Q: You decide to save for a car costing $1200 (You are a big spender). You want to make deposits for 24…

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Q: Juan purchases an annuity for 4140 dollars that will make 17 annual payments, the first to come in…

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Q: Lynn needs to borrow $5500 for cosmetic surgery. She obtains a loan from her grandmother for 48…

A: Given: Lynn borrows a loan for cosmetic surgery of $5500 at simple interest rate 7.3% for 48 months.

Q: You make an offer of $324,000 on a house and it is accepted. You receive a loan of 6.5% for 30…

A: You make an offer of $324,000 on a house and it is accepted. You receive a loan of 6.5% for 30…

Q: Joanne borrowed $3100 from the bank in order to buy a new camper. She will pay it off by equal…

A: Given that: Loan amount of Joanne = $3100 Annual interest rate = 6.1% Time = 4 years  Period = 1…

Q: Matt bought a boat for $15,000. This is a simple interest loan at 5.5% for 10 years. What is the…

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Q: The Habers purchase a $6500 living room set and take out a two-year loan for the entire amount at…

A: given  principal P=$6500 interest rate i=26% i=2612 =2.1666% =0.021667 time t=2 years number of…

Q: Suppose that you decide to buy a car for $24,635, including taxes and license fees. You saved $6000…

A: Simple interest formula for an amount P at an interest rate of r% for t years is given by the…

Q: House cost $225,000, you put 20% down. Get 30 yr loan at 3%. How much interest did you pay over 30…

A: Given problem is :

Q: Steven wants to buy a new couch priced at $558 and agrees to pay for it over two years with a…

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Q: Bill Seeker bought a boat costing $8000 with $2500 down, the balance plus add-on interest to be paid…

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Q: Fritz buys a car costing $10,500. He agrees to make payments at the end of each monthly period for 8…

A: P = 10500 r = 9.6% = 9.6/100 = 0.096 t = 8

Q: Steven wants to buy a new couch priced at $705 and agrees to pay for it over two years with a…

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Q: Jeremy has a credit card with an unpaid balance of $1,210. If he is charged an interest rate of…

A: The objective of this question is to calculate the finance charge for the month on Jeremy's credit…

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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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: Mr. Smith buys a television that is listed for $1500. He pays $500 down and pays the balance in 12…

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Q: A farmer purchased 235 acres of land for $4,900/acre. He paid 25% down and obtained a loan for the…

A: Given:   First we will find the amount of loan the farmer has taken    Calculating the amount of…

Q: Johnny found a job at McDonalds with a starting salary of $27,000. He is guaranteed a raise of 4.75%…

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Q: Claire wants to buy a new generator. The generator costs $1500. Claire decides to finance the…

A: The objective of this question is to calculate the monthly payment Claire has to make for the…

Q: Mary has agreed to loan Karen $1,125.37 for 5 years at 7%% simple interest. How much will Karen…

A: # Mary will receive the amount when loan is repaid as Mary has agreed to give loan to Karen The…