A loan payment of $1700 was due 60 days ago and another payment of $1200 is due 45 days from now. What single payment 90 days from now will pay off the two obligation if interest is to be 14% and the agreed focal date is 90 days from now?

A loan payment of $1700 was due 60 days ago and another payment of $1200 is due 45 days from now. What single payment 90 days from now will pay off the two obligation if interest is to be 14% and the agreed focal date is 90 days from now?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Related questions

Q: An apartment is sold cash at 500,000$. By installment you pay 20% of the apartment cash price as…

A: Given data :- cash price of apartment =500,000$ monthly payment = 7000$ Total number of month for…

Q: A loan of 16800 dollars is to be repaid in annual installments of 2000 dollars, the first due in one…

A: Given

Q: If a loan ₱120,000 is to be amortized for 2 years at 12.5% interest compounded monthly, how much is…

Q: Suppose Lorenzo wants to buy a truck. The dealer offers a financing package consisting of a 6% APR…

A: Suppose Lorenzo wants to buy a truck. The dealer offers a financing package consisting of a 6% APR…

Q: ou are considering taking out a loan of 5000 that will be paid back over 8 years with quarterly…

A: Given that you are considering taking out a loan of 5000 that will be paid back over 8 years with…

Q: American general offers a 9 years annuity with a guaranteed rate9.76 compounded annually. How much…

Q: The cost to purchase the house that Bainters are considering is $195,000 but the Bainters plan to…

Q: A 20-year bond with a $1,000 face value has a yield to maturity is 3.0% and it's coupon rate is 5.0%…

A: Solution is in step 2 Option B is correct choice

Q: This "Future value" is the price you will sell the house for after you've owned it for ten years.…

A: When you take out a mortgage, you're essentially borrowing a lump sum of money (the loan amount or…

Q: If the Principal amount is P72,500, the interest rate is 8% and the time is 3 years, the amount of…

Q: You are financing a new home. The loan is for $281,000 and you are getting rate of 3.9% per year…

A: Given the following details about the home loan. Loan Amount $ 281,000.00 Annual interest rate…

Q: Suppose you have budgeted $ 1130 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Given that, the monthly payment towards a mortgage is $1130, the number of years is 30 years and the…

Q: Scheduled loan payments of $598 due in 9 months and $1283 due in 24 months are rescheduled as a…

A: Given, First face value=$598Time=9 monthsSecond face value=$1283Time=24 months Then, All the…

Q: Bobby Sue has noticed some settling in one corner of the house’s foundation. The general contractor…

Q: 3) Harry had an unpaid balance of $1780.89 on his credit card statement at the beginning of…

A: According to the given information, it is required to find the finance charges and the new balance…

Q: Suppose you can afford to pay $ 475 a month for 7 years towards a new car with no down payment. If…

A: Given Monthly interest rate=4.25%/12 Number of months =7*12

Q: Suppose you can afford to pay $300 a month for 5 years towards a new car with no down payment. If…

A: Suppose you can afford to pay $300 a month for 5 years towards a new car Then the Future Value of…

Q: The interest rate on an $859.50 debt was 104%. For how many months was the loan outstanding if it…

A: Given: The interest rate on an $859.50 debt was 1014%. Find for how many months was the loan…

Q: The price of a new car is $20,000 . Assume that an individual makes a down payment of 25 % toward…

Q: Find the future value of a annuity with a monthly deposit of $10 at an interest rate of 2.6% per…

A: Here we have to find future value of annuity. For this we will use the formula given below

Q: Suppose that 10 years ago you bought a home for $120,000, paying 10% as a down payment, and…

Q: 15.) Find the APR to the nearest half-percent on a $3700 loan that is repaid at 7% add-on interest…

A: answer is in next step

Q: Find the exact interest on a loan of $7500 at 13% annually made on July 17 and due November 30.…

A: Given that we need to find the interest on a loan for following interest rate and on time.

Q: A person loans P500, 000 from a bank with an interest of 4% compounded annually. The person agrees…

A: We will find out the required annual payment.

Q: For each of the car loans described in Problem, give the following information. a. Amount to be…

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

Solve for the following problems. Answer as indicated. Write your answers in a separatesheet of paper.
Mr. and Mrs. Smith have just purchased a $1,200,000 home and made 20% down payment. The balancecan be amortized at 3% for 30 years. What is their home equity after 10 years?
Please answer this within 30 mins ! I will upvote !
Suppose that a loan is being repaid with 60 equal monthly payments, the first coming a month after the loan is made. If the rate of interest is 9.7 percent convertible monthly, and the amount of principal in the 22nd payment is 230, how much interest is in the 44th payment? Thank you!
Determine the equated date at which two payments of $600 due four months ago and $400 due today could be settled by a payment of $1100 if interest is 7.25% compounded semi-annually. Need only a handwritten solution only (not a typed one).
If a loan of P45, 000 will amount to P76, 400 when converted quarterly for 3.25 years . what interest rate took effect?
Q. 4. If you sell your car to someone for OMR 9500 and agree to finance it at 15 % compounded monthth, how much should you receive each month to amortize the loan in 42 months? How much interest will you receive?
Ms. Rowel would like to buy a house costing $190000. She is required to make a down payment equalto 10% of the value of the house then borrow the balance from a bank that charges interest at an annualrate of 4.2% compounded monthly. The bank loan has to be paid o§ with equal monthly payments,(paid at the end of each month), in 30 years. Assume that she will get the loan at the beginning of amonth and start making monthly payments on the last day of each month until the loan is paid o§.