Important Instruction: Use GUFSA (given, unknown, formula, solution, answer) method and strictly use/choose from the given formula. 1. Fernan borrows money to buy a motorcycle. He will repay the loan by making monthly payments of P1,500 for 24 months at an interest rate of 9% per year Compounded monthly How much did Fernan borrow?

Q: hich formula would you use for each of the following problems? A.I= Prt B. F- P(1 +1)" C. P= F(1+0)*…

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

Q: Suppose a man took out a 30-year loan with an annual rate of 6% to put an addition on his house. His…

A: Loan year=30 years Interest=6% Computer cost =$ 1,500 Here,we need to find amount of interest paid…

Q: If you borrow $3,600 to buy a car at 12% per year compounded monthly, to be repaid over the next…

A: Answer Borrowing amount = $3,600 Interest rate = 12% per year  Interest rate monthly = 1%  Time…

Q: Tim wants to buy a new boat for &9,500. If the store is going to charge Tim 8% annual interest on…

A: in this we have to calculate total interest to be paid and total principal and then monthly payment.

Q: Landon Wallin is an auto mechanic who wishes to start his own business. He will need $4000 to…

A: The PV annuity formula for monthly payment of loan is: PV=PMT×1-(1+i)-ni Here PV=4000 PMT=? n=60…

Q: Nina takes a fixed-rate, 30-year loan with a monthly payment of $1,300.00. The amount financed was…

A: Given,  Monthly Payment = $1300 Year = 30 years Amount Financed = $180000

Q: Derek plans to buy a $28,355.00 car. The dealership offers zero percent financing for 56.00 months…

A: Future value A financial concept called future value (FV) determines the worth of an asset by using…

Q: 1. Rayleene is getting a loan to buy a used car from a seller on Kiji. The price of the car is…

A: The loan principal: The loan principal is computed as the difference between the purchase price and…

Q: olve step by step the following problem (solve in digital format) Manuel owes the following amounts…

A: In this we need to find out the present value of future payments.

Q: b) Mario borrows money from his bank who charges an interest of 4% p.a. effective. Mario has the…

A: Using excel PV and FV function

Q: PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS 1.-  Osmara Del Toro deposits her life…

A: Compound interest is a method of interest calculation where the interest earned is reinvested…

Q: 2. Janica received a loan from her bank for Php 4,085 for a period of one year. The interest rate is…

A: Interest on Loan: The expense of borrowing money is represented by interest. When loan disbursements…

Q: Christine applied for a cash loan at PCG money lending company amounting to 100,000 pesos at 10.68%…

A: Cash loan (C) = 100000 pesos r = 10.68% n = 12 payments

Q: B) Ms. R. agrees with the bank to repay the debt plus interest with annuities in the amount of…

A: A loan is obtained by a borrower which is repaid in regular payments over the period of time. The…

Q: Mary has saved enough money to make a $10,000 down payment on a $3 finance the purchase with an auto…

A: Monthly payment refers to an amount that is paid at every month for the repayment of loan amount…

Q: Jennifer Kaufman bought a used Toyota Prius for $16,500. She made a $3,500 down payment and is…

A: Monthly Installment  = Loan AmountPVAIF (Interest rate , Number of months

Q: Pete Sampras borrows $10,000 to purchase a car. He must repay the loan in 48 equal end of periodic…

A: The nominal rate is just the monthly rate multiplied by the number of periods in a year.Nominal Rate…

Q: 1. Mr. Roberto Cáceres wishes to obtain a loan of $15,000 for the purchase of furniture for your…

A: Semiannual interest rate is the annual interest rate divided by 2. And interest amount is calculated…

Q: na Mier must pay a $3,500 furniture bill. A finance company will loan Tina $3,500 for 8 months at a…

A:

Q: Nina takes a fixed-rate, 30-year loan with a monthly payment of $1,300.00. The amount financed was…

A: Given  Monthly payment =$130000 year =30 amount financed =$180000

Q: While buying a new car, Abigail made a down payment of $1,000 and agreed to make month-end payments…

A: The real interest that an investor earns on the investment and a borrower pays on loan after…

Q: estion (a) Your brother has asked you to help him with choosing an investment. He invest today for a…

A: With interest money grow according to the interest rate and period given into larger future value.

Q: 5. Juan takes out a 3-year multi-purpose loan for P200,000 from a loaning institution. The annual…

A: The annual interest rate is 12%. So, the monthly interest rate will be 12%/12months = 1%. Monthly…

Q: B. Solve for the following: 5. Francis Nicolas borrowed P100,000 at an interest rate of 14%…

A: Note: Since here questions 6 and 8 are asked specifically to solve, but we are allowed to solve only…

Q: Use the unpaid balance method to calculate the finance charge on Joanna's credit account if last…

A: Computation:

Q: Osmara Del Toro deposits her life savings working at HoneyBee for $545,000, for when her retirement…

A: This question is related to the retirement plan in which he invests an amount of money in the…

Q: Suppose Jeric loaned from a bank the amount of 70,000 pesos and only received 68,600 pesos promising…

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Q: Suppose a man took out a 30-year loan with an annual rate of 6% to put an addition on his house. His…

A: Data given: Cost of computer=$1200 n=30 year Rate=6% p.a.

Q: Bill took out a 6 year loan to buy a car. If the loan carried an annual interest rate of 6.5% and he…

A: The amount of interest paid is calculated as difference of total payments less present value of…

Q: If you borrow $3,600 to buy a car at 15% per year compounded monthly, to be repaid over the next…

A: Monthly Payment = P x r / [1 - {1 / (1 + r)^n}] Here, P = Present Value or Loan Amount i.e. $3600 r…

Q: for your next car For the Questions 3-5 assume you want to finance (borrow) $12, and your interest…

A: In this question monthly payment is to be calculated and monthly payment paid for a loan comprises…

Q: married couple decided to buy a brand-new car. The of the loan is P 500,000. They plan to amortize…

A: Monthly amortization refers to the desired sum of the monthly payment for a fixed time of period…

Q: Construct a time diagram showing the solution of these obligations. José has a loan with a local…

A: Time diagrams are prepared to show the sequence and timing of events or transactions.

Q: 1- Jacinda Herschel wants to buy a car and determines she can afford to pay $412.00 a month for a…

A: Given: Particulars Amount Payment(PMT) $412 Years 3 Interest rate 2.95%

Q: Kevin are determined to buy new car and he can afford to pay Rs. 120,000 per annum for 5 years…

A: MS-Excel --> Formulas --> Financials --> PV Therefore, the amount that can be borrowed by…

Q: Landon Wallin is an auto mechanic who wishes to start his own business. He will need $4900 to…

A: Monthly finance charge is defined as any charge that comes into existence due to use of credit card.…

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A:

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.