Consider a 30-year fixed-rate home loan of $403,500 with an interest rate of 5.625%. What is the monthly payment? (Round your answer to the nearest cent.) $ =

Q: Find the payment necessary to amortize a 4% loan of $2000 compounded quarterly, with 10 quarterly…

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Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) New-car financing…

A: Introduction -  Monthly payment formula  A=P(r(1+r)n)(1+r)n-1 where, A=payment amount per period…

Q: What is the maturity value on a 7-year loan for $6,742 if the annual simple interest rate is 3.4%?…

A: Consider the given information. Here, PV=$6,742, n = 7 and r = 3.4%=0.034.

Q: The total amount paid on a 5 year loan was $16,000. If the interest rate was 7% and compounded…

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Q: You want to buy a 9 year bond with a maturity value of $6,000, and you wish to get a return of 5.5%…

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Q: Ann and Tom wants to establish a fund for their grandson's college education. What lump sum must…

A: let they deposit    $ Po P=Po1+rnntP= final amount Po= initial Amount r= intrest raten=number of…

Q: If Tanya's husband were to die, she and her children could live on $60,400 per year. Tanya makes…

A: Total income earned= 33,100+21,500 =$35600

Q: complete the following table for the simple discount notes. use the ordinary interest method. (round…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Find the future value of a simple interest loan of $18,000 at 6.1% interest for 9 months Give your…

A: As we know that the simple interest on a principle P with interest rate r for t times is(t=years)…

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) Finance $350,000…

A: Finance $350,000 for a warehouse with a 6.5% 30-year loan

Q: Ask someone borrowing from a five-six ( Bumbay ) money lender. How much will be charged if you want…

A: Simple interest:              SI = PRT100 where P = principle            R= rate of interest…

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) Finance $550,000…

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Q: Find the mortgage payment for a 15 year loan of 224,900$ at an annual interest rate of 8.05%. Round…

A: Given Pmt=Mortgage payment P=loan amounts=$224900 r=rate per period=0.0805 n=number of payment=15

Q: Consider a 30-year fixed-rate home loan of $419,500 with an interest rate of 3.625%. What is the…

A: The formula to calculate the EMI that is the equal monthly installment is: Here, P is the loan…

Q: Consider a 30-year fixed-rate home loan of $555,500 with an interest rate of 3.25%. What is the…

A: Given: Time = 30 years, Initial Value =  $555,500, Interest rate = 3.25%. Let us first find the…

Q: Jeffery Wei received a 6-year non-subsidized student loan of $31,000 at an annual interest rate of…

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Q: Calculate the simple interest due on a 45-day loan of P1,600 if the interest rate is 9%

A: Concept: Here we shall use the formula for simple interest: SI=P×r×t100 Here P is the principal, r…

Q: Consider a credit card with a balance of $7000 and an APR of 15.99%. In order to pay off the balance…

A: Given Amount borrowed =$7000 APR=15.99% Time =3 year

Q: Consider a 30-year fixed-rate home loan of $411,500 with an interest rate of 4.375%. What is the…

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Q: Julius takes out a loan of $8,500, at 9.5% simple interest, for 5 months. what is the maturity value…

A: Here is the Answer and Explanation

Q: Find the payment necessary to amortize a 8% loan of $800 compounded quarterly, with 16 quarterly…

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Q: Consider the 20-year fixed rate home loan of $185,500 with an interest rate of 6.75% what is the…

A: given, home loan=$185500 r= 6.75% = 0.0675 t=20 years frequency is monthly m= P(r/n) / 1-(1+r/n)-nt

Q: Consider a 30-year fixed-rate home loan of $408,500 with an interest rate of 5.125%. What is the…

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Q: Find the APR (rounded to the nearest tenth of a percent) for the loan described below. Purchase a…

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Q: Jeffery Wei received a 7-year non-subsidized student loan of $33,000 at an annual interest rate of…

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Q: To buy the home you love, you will need to take out a $615,000 loan with a 4.1% fixed interest rate…

A: Here we will use EMI on loan formula

Q: Find the future value of a simple interest loan of $22,000- Give your answer to the nearest cent…

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Q: Find the monthly payment (before the balloon payment) for a 25-year, interest-only balloon mortgage…

A: Given that:  P = amount of loan = $300,000  r = APR = 7% =0.07  n = length of the loan = 25 yr

Q: Find the payment necessary to amortize a 4% loan of $1600 compounded quarterly, with 9 quarterly…

A: Given that , P=1600r=4%=4100=0.04n=9 find the payment size to authorize the loan.

Q: A car dealer will sell you a used car for $6,498 with $798 down and payments of $162.51 per month…

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Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $513,000 home…

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Q: If you sign a discount note for $9,500 at a bank discount rate of 7% for 3 months, what is the…

A: Given information Principal P=$9,500 Rate of interest r=7% ⇒r=7100=0.07 Time t=3 months Hence, t=312…

Q: Julius takes out a loan of $8,500, at 9.5% simple interest, for 3 months. What is the maturity value…

A: Interest , I=PRT100where P is the principalR is the rateT is time in yearsMaturity value =Amount…

Q: Consider a 30-year fixed-rate home loan of $415,500 with an interest rate of 3.375%. What is the…

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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: You want to buy a 5 year bond with a maturity value of $7,000, and you wish to get a return of 5.5%…

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Q: When buying on installment, what is the formula for calculating the periodic payments?

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Q: Consider a 30-year fixed-rate home loan of $545,500 with an interest rate of 4.25%. What is the…

A: We need to find out the total interest paid.

Q: Jeffery Wei received a 6-year non-subsidized student loan of $33,000 at an annual interest rate of…

A: Consider the provide question, Given, P = $33,000 Annual interest rate = 5.8% We first find the…

Q: Consider a 30-year fixed-rate home loan of $515,500 with an interest rate of 3.75%. What is the…

A: Let  L, c and n denote the loan amount, the rate of interest per payment and the number of payments.…

Q: Find the balance in an accou interest rate of 3.8% per yea

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Q: Find the mortgage payment for a 15-year loan of $223,300 at an annual interest rate of 8.25%. (Round…

A: n =12  t =15 A = $223300  r =8.25%.

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $512,000 home…

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Q: You want to buy a 5 year bond with a maturity value of $8,000, and you wish to get a return of 5.5%…

A:

Q: Jeffery Wei received a 7-year non-subsidized student loan of $30,000 at an annual interest rate of…

A: Given: Loan Amount=$30,000 Annual interest rate=i=5.4%=0.054 Finance period=7 years Loan is non…

Q: Jeffery Wei received a 6-year non-subsidized student loan of $30,000 at an annual interest rate of…

A: Given problem Given that   Jeffery Wei received a 6-year non- subsidized student loan of $30,000…

Q: Complete the table. Principal rate time interest $4,000 6% 3 yr $ Account 1 2 yr 2$ Account 2…

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Q: Find the monthly house payments necessary to amortize a 9.6% loan of $145,900 over 15 years. The…

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Q: You take out a 65-day single-payment loan for $609 with an interest rate of 21%. What is the amount…

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Q: Suppose a person borrowed $2000 and repaid the lender $2150 after 10 months. What simple interest…

A: Initial amount =$2000 Final amount = $2150 Intrest Paid = $150