Mia bought a high definition television for $7, 500. based on  her income she could afford to pay back only $600 per month. There is a 1.5% monthly interest charge on the unpaid balance. The U.S Rule is used to in the calculation. At the end of the month 1, the balance outstanding is

Sally purchased a home in Georgia for $167,500. She took out a mortgage for 80% of the purchase price at a 7.75% interest rate and put up a 20% down payment. The sale closed on March 16. What is the total dollar amount of the prepaid interest? Select one: a. $452.08 b. $461.55 C. $455.23 d. $576.94

Marilyn was supposed to pay $1.620 to Bernice on March 18. Some time later Marilyn paid Bernice an equivalent payment of $1,67263. allowing fora time value of money of 24% compounded monthly. When did Marilyn make the payment? (Do not round your Irntermediate calculatlons and round your anewer to the neorest month.) Marylin mode the payment months later.

Dorothie paid the following amounts during the current year: Interest on her home mortgage (pre-12/16/17) $9,250 Service charges on her checking account 48 Credit card interest 168 Auto loan interest 675 Interest from a home equity line of credit (HELOC) 2,300 Interest from a loan used to purchase stock 1,600 Credit investigation fee for loan 75 Dorothie's residence has a fair market value of $250,000. The mortgage is secured by the home at the time of purchase and has a balance of $180,000. Dorothie used the same home to secure her HELOC with a balance of $50,000. Dorothie used the proceeds of her HELOC to pay for college and to buy a new car. Dorothie has $1,000 of net investment income. Compute Dorothie's interest deduction in the following scenarios: a. Calculate Dorothie's interest deduction (on Schedule A) for 2021. b. Same as part a, and Dorothie used the HELOC proceeds to add a new bedroom to her home. c. Same as part a, but Dorothie's home is valued at $1,200,000 and her…

1. On September 1, 1998, Susan Chao bought a motorcycle for $10,000. She paid $1,000 down and financed the balance with a five-year loan at an APR of 9.6%, compounded monthly. She started the monthly payment exactly one month after the purchase, i.e., October, 1998. In the middle of October, 2000, she got a new job and decided to pay off the loan. If the bank charges her 1% prepayment penalty based on the loan balance, how much should she pay the bank on November 1, 2000? Answer.

While buying a new car, Alexander made a down payment of $1,100 and agreed to make month-end payments of $290 for the next 5 years and 7 months. She was charged an interest rate of 4% compounded semi-annually for the entire term.a. What was the purchase price of the car?Round to the nearest centb. What was the total amount of interest paid over the term?

Christina Hercher borrowed $50,000 on a 90-day 8% note. Christina paid $3,000 toward the note on day 40. On day 60 she paid an additional $4,000. Using the U.S. Rule, Christina's adjusted balance after the first payment is:   Multiple Choice   $49,555.56   $444.44   $47,444.44

Everlyne has a personal LOC with her bank with a maximum credit limit of $11,000.00. The interest rate is prime plus 1.25%, and the current prime rate is 3.5%. Regardless of any account transaction activity, her bank requires on the first of every month for her to pay "the greater of 5% of the current balance or $100" from her checking account. She is allowed to exceed her maximum credit limit, but if she does the entire balance is subject to 22% interest until such time as the balance is restored below the credit limit. On October 1, the opening balance on her LOC was $2,300.00 She took advances of $4,900.00, $4,400.00, and $3,700.00 on October 17, November 16, and December 1, respectively. She made payments of $4,200.00, $4,900.00, and $3,900.00 on November 1, November 21, and December 18, respectively. The prime rate decreased by 0.5% on November 9. Complete the repayment schedule below by filling in the interest charges for October, November, and December Date Balance before…

Caitlin made a prepaid purchase of medical insurance of $3,000 for the year. In seven months he cancelled the insurance. Calculate the pro-rated refund he should receive from the insurance company.     Kristin saved up C$3,600 to use for her travels during her summer holidays. She first travelled from Toronto to Switzerland, where she converted all her Canadian dollars to Swiss francs at an exchange rate of C$1 = CHF 0.7621. She spent CHF 1,467 and then travelled to London, where she converted the remaining Swiss francs to British pounds at an exchange rate of CHF 1 = £0.7723. She spent £571.34 in London before returning to Toronto. How many Canadian dollars did she receive when she converted the remaining British pounds to Canadian dollars, if the exchange rate when she returned was C$1 = £0.5739?

On March 31, year 1, Mary borrowed $240,000 to buy her principal residence. Mary paid 3 points to reduce her interest rate from 6 percent to 5 percent. The loan is for a 30-year period. What is Mary's year 1 deduction for her points paid? Multiple Choice ___ $60. ___ $180. ___ $5,400. ___ $7,200.