Henry secures a $340,000 3/1 ARM loan at an initial interest rate of 3.075%. His monthly payment is $1,447.24. After 3 years, the interest rate on Henry's loan changes to 3.75%. Calculate his new monthly payment (in dollars).

Q: find the monthly mortgage loan payment for a $187,000 loan at 4.0% for 20 years.

A: The objective of this question is to calculate the monthly mortgage payment for a loan of $187,000…

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Q: Angela Montery has a five-year car loan for a Jeep Wrangler at an annual interest rate of 5.7% and a…

A: find explanation below

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: estimate this montly payment. loan: 62.500; 30 years; 6.32%

A: To estimate the monthly payment for a loan, we can use the formula for calculating the monthly…

Q: You want to buy a $21,000 car. The company is offering a 3% interest rate for 60 months (5 years).…

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Q: You want to buy a $31,000 car. The company is offering a 2% interest rate for 60 months (5 years).…

A: Given that the present value PV=$31000Interest rate r=2%=2100=0.02Componded monthly…

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Q: Calculate the value gained from depositing 12 regular installments into a bank, as the amount of…

A: S = P × (([1 + i]n – 1) / i) × (1 + i). Here, S is the final amount of maturity. P is the amount…

Q: Jennifer earned $ 42.55 interest over the period of 146 days on a term deposit that pays 5.75 % per…

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Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: Vicki takes out a 10-year loan. The loan is repaid by making 10 level annual repayments at the end…

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Q: Find APR (rounded to the nearest tenth of a percent) for the loan. Purchase a living room set for…

A: We know,  APR = 2Nr/N-1

Q: For a loan of $24,000 at a fixed APR of 8% for 15 years, find the monthly payment.

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Q: You have a $70,000  reducing balance loan at 7.5% per year. Monthly repayments are 850. What is the…

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A: Addon interest also known as simple interest formula is given by the equation; A=P1+rt100 Where A is…

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Q: The rebate offer is $3800, and you can obtain a car loan at your local bank for the balance at 3.78%…

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Q: The payment on a 15 year loan at 9.36% compounded weekly is $180. Calculate the amount of the loan.

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Q: Davida purchased a simple ordinary annuity that earns 2.4% annual interest. She will receive monthly…

A: As per guidelines we can solve first question only when multiple questions are posted. Please repost…

Q: Taylor took out a student loan for $69,000 and agreed to pay it off with monthly payments over 4…

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Q: Use the​ add-on method to determine the monthly payment for a ​$9,000loan at 6​% interest for three…

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Q: Sandra buys a new car for $18,600. She puts 15% down and obtains a simple interest amortized loan…

A: Here, Car price= $18,600 Down payment=0.15 Annual rate= 6.25% Number of months= 5*12= 60 months

Q: find the monthly mortgage loan payment for a $174,000 loan at 2.2% for 30 years.

A: The objective of this question is to calculate the monthly mortgage payment for a loan of $174,000…

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Q: A family buys a new minivan for $45,000 and makes a down payment of $12,000. They finance the van…

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