4. Alan Lewis purchased a new computer for his office using the store's installment credit plan. Thecomputer cost $5,991.64. He made a 40% down payment.4a. What is the down payment?4b. What is the amount financed?5. Melvin Annijo purchased new carpet for $1,498.96; laminated flooring for $2,365.45; kitchen cabinetsfor $7,864.44; and a countertop for $936.12. The Home Supply credit plan requires a 15% downpayment.5a. What is the total amount of the purchases?5b. What is the down payment?5c. What is the amount financed?6. Amanda and Charles Mercer want to remodel their coffee shop. They would like to finance part of thecost but do not want the amount financed to be more than $10,000. The total cost of remodeling theshop is $13,480.6a. Determine how much they need for a down payment6b. Will a 25% down payment be enough?

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4. Alan Lewis purchased a new computer for his office using the store's installment credit plan. The computer cost $5,991.64. He made a 40% down payment. 4a. What is the down payment? 4b. What is the amount financed?

4. Alan Lewis purchased a new computer for his office using the store's installment credit plan. The computer cost $5,991.64. He made a 40% down payment. 4a. What is the down payment? 4b. What is the amount financed?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

4. Alan Lewis purchased a new computer for his office using the store's installment credit plan. The
computer cost $5,991.64. He made a 40% down payment.
4a. What is the down payment?
4b. What is the amount financed?
5. Melvin Annijo purchased new carpet for $1,498.96; laminated flooring for $2,365.45; kitchen cabinets
for $7,864.44; and a countertop for $936.12. The Home Supply credit plan requires a 15% down
payment.
5a. What is the total amount of the purchases?
5b. What is the down payment?
5c. What is the amount financed?
6. Amanda and Charles Mercer want to remodel their coffee shop. They would like to finance part of the
cost but do not want the amount financed to be more than $10,000. The total cost of remodeling the
shop is $13,480.
6a. Determine how much they need for a down payment
6b. Will a 25% down payment be enough?

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