In buying a set of household appliances sting P120,000.00, a family makes a down ayment of P10,000.00, and there is an greement to pay the balance in 36 monthly stallments. How much is the monthly stallment if interest is charged at 6.5% mpounded monthly? Construct an nortization schedule.

Q: You are financing a car worth $29509.88 with tax included. Interest rates are 7.6% compounded daily.…

A: Solution:- When an amount is borrowed, it can either be repaid as a lump sum payment or in…

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $517,000 home…

A: Given,Total amount = $517000Down payment = 20% of $517000Loan term = 30 yearsInterest rate = 6.2%

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $518,000 home…

A: When we take a loan we usually make fixed periodic payments toward servicing the loan. The fixed…

Q: You purchase an RV by making a down payment of $10,500. The terms of your finance agreement have an…

A: The idea of a time value of money (TVM) holds that a quantity of income is valuable greater now than…

Q: You are to pay a bill in Meralco every month for 5 years. The accumulated amount of the payment you…

A: A deferred annuity is an agreement with an insurance broker to pay the owner a monthly income or a…

Q: You purchase an RV by making a down payment of $10,500. The terms of your finance agreement have an…

A: The idea of a time value of money (TVM) holds that a quantity of income is valuable greater now than…

Q: 1. A television set is for sale at ₱ 13,499 in cash or on installment terms, ₱ 2,500 each month for…

A: When given two repayment options of payment in annuity, one must select the option with lowest…

Q: You borrow $560,000 to purchase a home. The loan rate is 8.95% and must be repaid in 27 years. What…

A: Compound = Monthly = 12Present Value of Payment = pv = $560,000Interest Rate = r = 8.95 / 12%Time =…

Q: Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,100. Her…

A: Introduction: Installment: Its a method of payment paying monthly , semi annually , annually etc.

Q: Calculate Sandy’s monthly payment

A: Loan Payment: These are payments made by the lender to the borrower for amortizing the loan amount.…

Q: Smith's Trailer Sales will finance a 16-foot utility trailer with ramps and electric brakes. If a…

A: Installment Price = Down Payment + (Monthly Payment * Number of Payments)

Q: You are trying to save up for a downpayment on a home and you need $55, 000 to cover closing costs…

A: Future value=$55000Monthly payment=$975 Interest rate=7.65%Monthly rate=7.65/12= 0.6375Future value=…

Q: Polly purchased car. She paid ₱ 150,000.00 as down payment and ₱5,500.00 payable at the beginning of…

A: periodic rate is the interest rate for a specific time period. the interest rate quoted for a loan…

Q: 4. Your mom needs to borrow $45.500 for a house renovation. Her bank agrees to lend her the money…

A: Amount of loan = $45,500Period = 3 yearsAPR = 5%Q

Q: You are required to purchase one plot costing of Rs. 2800000 and the owner make a payment plan for…

A: Present value is a financial term that depicts today's worth of a sum to be received at some point…

Q: You borrowed $30,200 to remodel your kitchen. The interest rate is of the loan is 8.2 percent,…

A: Compound = n = Monthly = 12Present Value = pv = $30,200Interest Rate = r = 8.2 / 12 %Monthly payment…

Q: I purchase a BMW for $70,000. If I receive a trade in allowance of $5,000 for my old car. what will…

A: Given: Purchase price of BMW = $70000 Old car trade = $5000

Q: In shopping for a new-to-me car, I would like to keep my monthly payment at or below $250. With an…

A: To determine the maximum loan amount you can afford with a monthly payment of $250 at an annual…

Q: To help purchase his new minivan, Miguel is taking out a $23,000 amortized loan for 6 years at 6.1%…

A: An amortization schedule shows periodic loan payments of principal and the amount of interest until…

Q: 2. You bought a $30,000.00 machine with $6,000.00 down payment and agreed to pay for the rest at 1%…

A: The question is based on the concept of Financial Management. Annuity refers to the amount of equal…

Q: Andy wants to buy a car that costs $22,750. The dealership will finance the car for 5 years, at…

A: A loan is an agreement where an amount is forwarded in exchange for a periodic payment which would…

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $519,000 home…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: Mamadou is leasing a car originally valued at $42,130. The lease is being financed with an interest…

A: Given, The amount financed is $42,130 Interest rate is 7.87% Monthly payment is $466

Q: A consumer buys a used car $15500 with monthly payments of $340, an annual interest rate of 4.6%.…

A: The concept of time value of money will be used and applied here. When we take a loan or a mortgage…

Q: You purchase an RV by making a down payment of $10,500. The terms of your finance agreement have an…

A: The cash price or the purchase price will be the current worth of all the payments made on a monthly…

Q: B. Ordinary Annuities 1. Roselyn spends Php 850 per month on cigarettes. If she stops smoking and…

A: An ordinary annuity is a series of equal payments made at the end of consecutive periods over a…

Q: In the purchase of a rice cooker, a buyer pays P 200 cash, and he will discharge the balance,…

A: Cash price of the rice cooker will be equal to the sum of down payment of P200 and present value of…

Q: 5000. She can borrow from a finance company at 6.90% add-on interest for 4 years. Or she can borrow…

A: In the add on method of interest all interest for the period of the loan is added at one time and…

Q: A new furniture set costs $ 2900. If you make a down payment of $ 400 and finance the rest at a rate…

A: Cost of furniture = $ 2900 Down payment = $ 400 Mortgage amount (PV) = 2900-400 = $ 2500 Interest…

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: 5) You are considering buying a Chevy Cruze. The sticker price is $15,000 and you have $2,000 to put…

A: Car price = $15,000Down payment = $2,000Interest rate = 10%Number of years = 5 years

Q: You buy furniture for 5400. You pay 300 down the remainder is financed in 36 100 monthly payments.…

A: Furniture price = 5400 Down payment = 300 Number of payment = nper = 36 Monthly payment = pmt = 100

Q: monthly paymen

A: Monthly payment refers to the equivalent amount that is paid every month for the loan duration. The…

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $505,000 home…

A: Here,ParticularsValuesPurchase price of home $   5,05,000.00Percentage of down payment20.00%Number…

Q: The buyer of a car makes a down payment of P225000 and pays P20794.52 at the end of each month for 5…

A: Down payment (DP) = P 225000 Monthly payment (P) = P 20794.52 Period = 5 Years Monthly period (n) =…

Q: Mr Ahmad wants to borrow $30,000 for a delivery Van for his Bakery business, which is rovided by…

A: Amount to borrow is $30,000 Interest rate is 9% per year Compounded monthly Time period is 5 year To…

Q: A salesman earns P2,500 on the 1st month, P2,800 on the 2nd month, P3,100 on the 3rd month and so…

A: Since you have posted a multiple question then we will be solving the first question only as per the…