A savings and loan charges 2.075 points for a home buyer to obtain a loan of $255,000. To calculate the discount points, what value should be multiplied by the loan amount? Also, calculate the discount points.

Q: 7. Calculating finance charges using the discount method and APRon a single-payment loan You are…

A:

Q: 2b. You decide to take advantage of the store's payment plan. The payment plan's terms are as…

A: As per Bartleby honor code, when multiple questions are there, the expert is required only to solve…

Q: Calculating finance charges using the discount method and APRon a single-payment loan You are taking…

A: financial charge =p×r×tloan disbursed = principal - financial charge APR=FINANCE CHARGEPRINCIPALN

Q: You currently have a credit card with a balance of $450. If you have a credit limit of $2,000, what…

A: In order to find out the credit utilization rate, we need to divide the credit availed by total…

Q: A borrower has two alternatives for a loan: (1) issue a $360,000, 75-day, 6% note or (2) issue a…

A: Notes payable is a promise to pay certain amount by the buyer to the seller on a date and interest…

Q: Use the loan amortization table: Purchase price of a used car $5,533, Down payment  $1,153, number…

A: Lookup table are used to calculate the loan amortization and are used as shortcuts to calculate the…

Q: Angela has a Macy’s credit card. The card has a balance of $2088.74 with an APR of 28.99%. Macy’s…

A: Card Balance is $2088.74 APR is 28.99% Minimum payment rate is 3.9%   To Find: Minimum Payment…

Q: 2. If you receive $249 each quarter for 4 quarters and the discount rate is 0.08, what is the…

A: In this Question we require to calculate the Present Value of Cash flows received every quarter for…

Q: Раyment (4.34% paid Раymer paid (2.74% interest) interest) $29,000 automobile with 10% deposit Total…

A: Cost of automobile = $29,000 where  There is a deposit of 10% or $12,000 Assumed: Loan is taken for…

Q: suppose that you decide to borrow $15,000 for a new car. you can select one of the following loans,…

A: a.Loan ALoan Amount (pv) = $15,000Interest Rate (rate) = 5.9%Time Period = 3 YearsNumber of Payments…

Q: Establish a line of credit with the bank at an intrest rate of 10%. The bank will charge a fee of 1%…

A: Actual cost of line of credit include the interest rate charged by the bank and the establishment…

Q: Calculate the loan amount on a purchase having a cash price of $47,900 with a down payment of…

A: Down Payment: The down payment is the portion of the purchase price that you pay out-of-pocket (as…

Q: are the loan department supervisor ban Being paid task to calculate the rebate fraction, the finance…

A: Given information : Amount financed = $4,700 Number of payments = 36 Monthly payment = $165.33…

Q: With respect to using traditional lending rules to determine how much of a mortgage a borrower…

A: Since you have posted multiple questions, we will answer the first one for you. If you want a…

Q: Paige is planning on depositing $1,000 in one of two different savings accounts from two financial…

A: Annual percentage rate (APR) refers to the stated interest rate or the nominal rate that is being…

Q: ture or false is the add-on method is used to calculate a finance charge of $150.80 on a $2,200…

A: The add-on method of interest is one of the methods of determining the quantum of loan repayments…

Q: The following installment loan is being paid off early. Calculate the rebate fraction, the finance…

A: The finance charged is the total cost that has charged for borrowed the specified amount for…

Q: Match the following credit terms with the correct description. APR Known as the Annual Percent V…

A: Solution:- There are various banking terms which are used in day to day use in the banking sector.

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Here, APR is 9%

Q: suppose that you overdrew your bank account by $200. the bank charge you a fee of $30 and your…

A: given: overdraft amount           =$200 bank charge       =$30 number of days               =5…

Q: 1. Barry is going to post-secondary school for three years. Should Barry get a Student Loan or…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Find the total installment cost and the finance charge for an installment loan with these…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: Calculate the amount financed, the finance charge, and the total deferred payment price for the…

A: Concept: The total deferred amount is defined as the amount of compensation based under the plan…

Q: Big Dom’s Pawn Shop charges an interest rate of 20 percent per month on loans to its customers. Like…

A: APR = given monthly rate * 12 months

Q: Suppose that a monthly net income is $3,340. Your monthly debt payments include your student loan…

A: Debt to Income Ratio tells us the percentage of income that goes towards payment for rent , mortgage…

Q: You are the loan department supervisor for a bank. This installment loan is being paid off early,…

A: Amount financed (F) = $4700 Number of payments = 36 Payments made = 33 Remaining payments = 3…

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A:

Q: Calculate the DTI ratio (as a percent) for a borrower who has a gross monthly income of $5,330 and…

A: DTI ratio compares a person's or a household's total debt payments to their gross income. This is…

Q: Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to…

A: using excel PMT function  where, rate = 13%/12 = 1.08% nper = 48 pv = -4450

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A: The add-on interest method adds the total interest and the principal amount to reflect the amount…

Q: Calculate the finance charge for a credit card that has the given average daily balance and interest…

A: Credit card finance charges or interest is the charge that credit card companies impose on the card…

Q: Purchase (Cash) Price Down Payment Calculate the amount financed, the finance charge, and the…

A: Amount financed:"Amount Financed" refers to the principal sum borrowed or financed in a loan…

Q: Consider a $5,000, 6%, 180-day interest-bearing note and a non-interest- bearing note for the same…

A: The notes are used by borrowers for raising funds that are categorized as interest bearing and…