Nathan plans to repay a loan of $60 000 at 5.1% per year by making equal annual payme Should Nathan use the amount or present value formula to determine the size of his payments? Explai

Q: Nina and Michael have been approved for a $300,000 30-year mortgage with an APR of 5.25%. How much…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Your friend is going to borrow $150,000 using a 30 year mortgage with a 4.25% APR. Which of the…

A: Monthly mortage payment formula for borrowing amount (M), years of mortage (t) and rate of interest…

Q: Callie calculates the monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate. With…

A: Given : The monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate.

Q: You want to buy a car. The loan amount will be $28,000. The company is offering a 2% interest rate…

A:

Q: Consider a credit card with a balance of $8000 and an APR of 21%. If you want to make monthly…

A: According to the given data, find the total amount:

Q: What would be the monthly payment on an add-on loan from a credit union at 6% over 36 months for the…

A: I solved with detailed analysis

Q: Angela Montery has a five-year car loan for a Jeep Wrangler at an annual interest rate of 5.7% and a…

A: find explanation below

Q: Melissa Hernandez received an 8-year subsidized student loan of $25,000 at an annual interest rate…

A: We have given the amount of loan, the annual interest rate and the time period

Q: A student loan of R25000 is to be repaid by regular monthly installments over 60 months. If the…

A:

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: What is the monthly payment on a 25 year loan of $67,800 if the annual interest rate is 5%?

A: We have Principal loan amount, P = $67,800 Annual interest rate r = 5% = 0.05 Number of monthly…

Q: Vicki takes out a 10-year loan. The loan is repaid by making 10 level annual repayments at the end…

A:

Q: USE SIMPLE INTEREST TO FIND THE ENDING BALANCE   $1, 300 AT 5 % FOR 6 years

A: Find ending balance

Q: Suppose you obtain a 30-year mortgage loan of $194,000 at an annual interest rate of 7.9%. The…

A: We have to find out answer of given question....

Q: What's the interest in a $500 loan at an annual simple interest rate of 9% at the end of 1 year?

A:

Q: Tom and Linda have been approved for an $185,000, 15-year mortgage with an APR of 5.35%. What will…

A: Since the given term is APR then we have to compute simple interest. The formula for simple interest…

Q: $20,000 in a fund paying 2% per year, with monthly payments for 5 years PMT =

A: The objective of the question is to calculate the monthly payments (PMT) for a fund of $20,000 that…

Q: Suppose you obtain a 20-year mortgage loan of $192,000 at an annual interest rate of 7.9%. The…

A:

Q: Krista borrowed ​$15,380. The loan is to be repaid by three equal payments due in 98, 146, and 272…

A: Sol:- To calculate the equal payments, we need to use the concept of present value. The present…