Please answer fast I give you upvote Frank Wood purchased a bedroom set for $5500, paying $750 down. The balance was financed for 24 equal monthly payments, and Frank agreed to pay a $522finance charge. Using the annual percentage rate (APR) table, calculate the following. (Round all answers to the nearest hundredth.)1. Amount financed2. Annual percentage rate (APR):$0ONExpañol

Price=5500Down payment=750Monthly payment=522Period=n=24 months

Frank Wood purchased a bedroom set for $5500, paying $750 down. The balance was financed for 24 equal monthly payments, and Frank agreed inance charge. Using the annual percentage rate (APR) table, calculate the following. (Round all answers to the nearest hundredth.) 2. Annual percentage rate (APR) X

Frank Wood purchased a bedroom set for $5500, paying $750 down. The balance was financed for 24 equal monthly payments, and Frank agreed inance charge. Using the annual percentage rate (APR) table, calculate the following. (Round all answers to the nearest hundredth.) 2. Annual percentage rate (APR) X

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Bob Russell purchased a home theater system for $5200, paying $500 down. The balance was financed for 22 equal monthly payments, and Bob agreed to pay a $634 finance charge. Using the annual percentage.rate (APR) table, calculate the following. (Round all answers to the nearest hundredth.) 1. Amount financed: 2. Annual percentage rate (APR):
Amy Hall purchased a bedroom set for $5450, paying $1000 down. The balance was financed for 23 equal monthly payments, and Amy agreed to pay a $544 finance charge. calculate the following. (Round all answers to the nearest hundredth.) 1. Amount financed: $ 2. Annual percentage rate (APR): %
In order to make some home improvements, a homeowner spent $24000. He paid 18% as a down payment and financed the balance of the purchase with a 36-month fixed installment loan with an APR of 4.5% Determine the home owner's total finance charge and monthly payment. Select one: a.Total finance charge = $3381.02; Monthly payment = $640.58 b.Total finance charge = $1156.06; Monthly payment = $579.03 c.Total finance charge = $3074.40; Monthly payment = $752.07 d.Total finance charge = $1395.12; Monthly payment = $585.42
Gert needs to borrow $415,000 to purchase a home. He is able to obtain a thirty year mortage with a fixed-rate of 3.0%. What is his monthly payment? For numerical entries, please 1. do NOT enter commas 2. do NOT enter the dollar symbol: $ 3. DO enter the percent symbol when it is needed: % 4. enter dollar amounts to the nearest cent, for example: 12345.67 Please complete the TVM Framework table to compute Gert's monthly payment on this mortgage: Time Value of Money (TVM) Framework i PV PMT с Please complete the first rows of the amortization table: Amortization Table INTEREST LA n n Principal Balance Excess Payment FV type CPT Principal Remaining If Gert started this mortgage at the beginning of December, how much interest would he pay during its first calendar year?
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A young couple buying their first home borrow $90,000 for thirtty years at 7.6%, compounded monthly, and make payments of $635.47. After 4 years, they are able to make a one-time payment of $2,000 along with their 48th payment. (a) Find the unpaid balance immediately after they pay the extra $2,000 and their 48th payment. (Round your answer to the nearest cent.)$ (b) How many regular payments of $635.47 will amortize the unpaid balance from part (a)? Give the answer to one decimal point. payments(c) How much will the remaining debt be after the number of full payment periods in part (b) is made? (Round your answer to the nearest cent.)$ How much extra must be included with the last full payment to pay off the debt? (Round your answer to the nearest cent.)$ (d) How much will the couple pay over the life of the loan by paying the extra $2,000? (Round your answer to the nearest cent.)$ (e) How much will the couple save over the life of the loan by paying the extra $2,000? (Use your…
Tim Houston purchased a wall unit for $2,200. He made a $600 down payment and financed the balance with an installment loan for 48 months. If Tim's payments are $42.50 per month, use the APR formula to calculate what annual percentage rate he is paying on the loan. (Round your answer to two decimal places.) %
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Nesrin purchased a new car for $9420 paying $3000 down paying and agreeing to 12 monthly payment (by notes) of a face value of $600 each begining a month after the purchase. Calculate the credit rate. Nesrin suggested to pay $3000 the day of purchase and substituting the 12 notes with a unique note of $7200.Determine the due date of that note with the samr conditions of above. At last,she decided to payb$4680 down payment and agreeing to pay the remaining amount by 3 payments every 4 months.The payments would begin 4 months from the time of purchase.The payment amount will increase by a geometrical sequence of common ratio q=2. If the credit discount rate is 12%, calculate the maturity value Vi of each payment.

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