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A house is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every month thereafter is required, how many months will it take to pay for the building? Interest is charged at a rate of 12% compounded monthly
a. 100
b. 132
c. 70
d. 121
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- A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every month thereafter is required, how many months will it take to pay for the building? Interest is charged at a rate of 12% compounded monthly A. 100 B. 70 C. 142 D. 121A house costs $147,000. It is to be paid off in exactly ten years, with monthly payments of $1,783.52. What is the APR of this loan? A. 6% B. 8% C. 7% D. 9% Please use BA II where applicable.A building is priced at $100,000. If a downpayment of $30,000 is made, an a payment of $1,000 every month thereafter is required, how many months will it take to pay for the building? Interest is charged at a rate of 12% compounded monthly A) 132 B 100 70 D) 121
- A house costs $133,000. It is to be paid off in exactly ten years, with monthly payments of $1,641.90. What is the APR of this loan? OA. 7.4% B. 6.4% O C. 8.4% O D. 9.4%Prepare an amortization schedule for a three-year loan of $60,000. The interest rate is 6 percent per year, and the loan calls for equal annual payments. How much is the principal payment for the first year? Select one: a.$ 50,377.17 b.$ 22,446.59 c.$ 20,000 d.$ 18,846.59A person buys a piece of property for P100,000 down payment and ten deferred semi-annual payments of P8,000each starting three years from now. What is the present value of the investment if the rate of interest is 12% compounded semi-annually? What problem is all about? A. Perpetuity B. Annuity due C. Deffered
- 2. In buying a set of household appliances costing P120,000.00, a family makes a down payment of P10,000.00, and there is an agreement to pay the balance in 36 monthly installments. How much is the monthly installment if interest is charged at 6.5% compounded monthly? Construct an amortization schedule.2. A lathe for a machine shop costs 600,000 if paid in cash. On the installment plan, Engr. Dela Cruzshould pay 200,000 down payment and 10 monthly installments, the first due at the end of the first yearafter purchase. A.) What type of annuity is the installment plan?B.) If money is worth 10% compounded monthly, determine the monthly installments.What is the monthly payment for a home costing $475,000 with a 20% down payment and the balance financed for 30 years at 6.5%? (a) State the type. A. present valueB. future value C.ordinary annuityD.amortizationEsinking fund (b) Answer the question. (Round your answer to the nearest cent.)
- An apartment unit in a rural area that sells for P1,800,000 can be purchased under terms requiring 200 monthly payments. Assume that the first payment begins now and the interest is 12% compounded monthly. What is the size of the monthly payment?1. Mary made a loan of P58,000 to supply her new business. It is to be amortized by ten equal payments of P6,300 at the end of each quarter. a. What is the semi-annual interest needed to amortize the loan? b. Make an amortization schedule showing the distribution of the payments.22. 1). You are going to buy a home, and will be taking out a home loan for $275,000. The loan will be a standard 30 year loan, compounded monthly, with an APR of 7.9% a). Calculate the uniform payment series for the loan. b). Construct an amortization table that separates payments into interest and principle portions. c). If you pay an additional $150 per payment period for the first 4 years of the loan, what will the new payoff date be.