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.

Q: A Dodge truck is purchased for $39,000 paying $5,000 down and the remainder in equal monthly…

A: Purchase price=$39,000 Down payment=$5,000 Principal loan amount=$39,000-$5,000=$34,000 No. of…

Q: Panpan purchased a car. She paid ₱250,000.00 as down payment, and ₱5,500.00 payable at the beginning…

A: An amortization schedule is a complete table of periodic loan payments, showing the amount of…

Q: A Seller accepts her offer on her home for 60,000. At the time of the offer, a 2,000 earnest money…

A: Check: Check is used for payments related to purchasing assets, paying expenses, and liabilities.…

Q: While buying a new car, David made a down payment of $800 and agreed to month-end payments of $280…

A: The loans are paid by the equal monthly installments that carry the payment for interest and payment…

Q: A man purchased a secondhand truck with a cash price of P350, 000 for his hollow block business. He…

A: Cash Price = P 350,000 Down payment = 20% Loan amount = 350000*(1-0.20)                       =…

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

A: Time has been precious in all perspectives, however in terms of finance, time has a monetary value.…

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

A: In order to find the cash price of a car it is important to find the present value of it.

Q: Luis Mahla purchases a Porsche Boxster for $44,300 and finances the entire amount at an annual…

A: Purchase Price = $44,300Sales Tax = 6% of Purchase PriceLicense Fee = 1% of Purchase Price…

Q: Mr. Jefferson had a new heating system installed in his office. The balance owing to the heating…

A: Given, Balance owed is $22,000 Nominal rate is 3.08%

Q: Bill Casler bought a $6000, 9-month certificate of deposit (CD) that would earn 9.2% annual simple…

A: Here, To Find: Part A. Value of CD =? Part B. Present value of CD before maturity =? Part C. Annual…

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

A: The periodic rate would be the monthly rate, and $ 5500 would be paid till 48 payment.   The…

Q: On March 12, Nada joined a saving account. Her bank will automatically deduct BD 200 from her…

A:

Q: Kris borrows some money in her senior year to buy a new car. The car dealership allows her to defer…

A: Monthly payment can be calculated using the formula of the present value of annuity. Present value…

Q: A friend has $1,200 that he has saved from his part-time job. He will need his money, plus any…

A: The interest earned on the savings account is determined by multiplying the amount invested with the…

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

A: a) Periodic Rate = Annual Rate / 12

Q: Lee purchased a laptop and promised to pay P2500 every month for 2 years, beginning on the date of…

A: Purchase of Assets on Loan Monthly payment Need to calculate prepayment price to close the liability

Q: Sharon Fox decided to buy a home in Marblehead, Massachusetts, for $265,000. Her bank requires a 25%…

A: a.

Q: Jones purchased a cottage, paying $30 000 down and agreeing to pay $1800 at the end of every month…

A: The nominal interest rate is a rate mutually agreed upon between two or more parties to the…

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: Carter bought a new car and financed $⁢25,000 to make the purchase. He financed the car for 60…

A: Loan amount (PV) = $ 25000 Interest rate = 5.5% Monthly interest rate (r) =…

Q: Anna purchases a smartphone for P28,000. She makes a 15% down payment and agrees to repay the…

A:

Q: Jean borrowed $3600 from the bank in order to buy a new piano. She will pay it off by equal payments…

A: Interest-  The monetary payment for the privilege of borrowing money is known as interest, and it is…

Q: Panpan purchased a car. She paid 250,000 as down payment, and 5,500 payable at the beginning of each…

A: Equivalent cash price refers to the equivalent present cost of the car at the time of purchase. It…

Q: Jacqueline purchased a machine for $25,000 for his company. He paid 5.00% of this amount as a down…

A: We know that if any down payment is made in the beginning then such an amount will be reduce from…

Q: Richard purchased a car which had a selling price of 7200. He paid 30% down and agreed to pay 240 RO…

A: Installment is the periodic amount paid by the borrower to the lender in order to pay back the loan…

Q: Huan accepted an in-store loan on a computer she just purchased. The monthly payment is $64.53 on…

A: Loan is an agreement between lender and borrower where lender provide borrower with funds in…

Q: a man purchased a car with a cash price of 350,000.00 He was able to negotiate with the seller to…

A: Solution:- Calculation of the monthly payment and remaining balance paid as follows under:-

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: and the interest is 12% compounded monthly

A: Present value computes the existing value of future benefits by discounting future worth with a…

Q: Darla purchased a new car during a special sales promotion by the manufacturer.

A: Interest paid to manufacturer Principal amount (P)=$18,000 Rate of interest (r)=7% per annum Period…

Q: Anthony purchased a $236 stereo system at Wrigley's Department Store. He paid $45 down and agreed to…

A: Amount financed = cost of the stereo system - down payment = 236 - 45 = 191. This is P.   Now this…

Q: ron prentice bought goods from shelly katz. on may 8, shelly gave ron a time extension on his bill…

A: Firstly, we will find the maturity value: Principal $3,000 +Interest (3,000*.08*180/360) 120…

Q: Diane Wallace bought a​ living-room suite on​ credit, signing an installment contract with a finance…

A: Principal amount refers to the amount of money that is borrowed from the lender and is also the…

Q: Sylvie Cardinal bought a business for $45 000. She made a down payment of $10 000 and agreed to pay…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: Bill Casler bought a $9000, 9-month certificate of deposit (CD) that would earn 8% annual simple…

A: Solution:- Given, Bill Casler bought = $9,000 9-month certificate of deposit (CD) that would earn 8%…

Q: Jones purchased a cottage, paying $30 000 down and agreeing to pay $1800 at the end of every month…

A: Loan is contract between lender and borrower where lender provide funds to borrower for definite…

Q: Glenn purchased a laptop through the credit cooperative of their company. The cooperative provides…

A: When you purchase some product on credit then monthly payment installment starts either from same…

Q: Faizal purchased an electric motorcycle at RM8,500 through an instalment payment. The purchase was…

A: Motorcycle cost = RM 8,500 Down Payment = RM 1,500 Time Period = 5 Years Interest rate = 4%

Q: Todd Gunderson buys a new computer system for $2,000, plus 8% sales tax.  He financed the entire…

A: The purchase value of the system is $2,000, plus 8% sales tax. The installment cost is $60.…

Q: Michelle bought a new car for $⁢38,000. She paid a 20% down payment and financed the remaining…

A: Monthly Mortgage Payment The monthly mortgage payment is the repayment of a mortgage loan by paying…

Q: Jessica purchased an electric guitar from Music World. The purchase price was $2,700. She took…

A: In this question, we have to find the number of payments of annuity required to payoff the price of…

Q: Ali took a loan of 180000 to buy an apartment the bank offered the loan with an apr of 16 compounded…

A: Amount of Annuity "A" is 31,280 Total number of annual payments are 30 Loan amount is 180,000…

Q: In October, a store offers the public a "Buy Now Pay Later" sales plan. With this plan, Mrs.…

A: Interest rate (r) = 55% per annum = 4.5833% per month Number of installments (n) = 12 Monthly…

Q: Michelle Passmore is purchasing a $25,000 automobile, which is to be paid for in 60 monthly…

A: A loan is an agreement between two parties where a sum is forwarded in exchange for periodic…

Q: Don James purchased a new automobile for $20,000. Don made a cash down payment of $5,000 and agreed…

A: The remaining amount of $15,000 is the difference in total cost, $20,000 and down payment, $5,000.

Q: Richard purchased a car which had a selling price of 7200. He paid 30% down and agreed to pay 240 RO…

A: Annual Percentage Rate (APR):  It is an average amount of interest you pay per year, expressed as a…

Q: Elvie buys a bill of goods from Robert who asks 1,250 at the end of 3 months. Elvie C wishes to pay…

A: GIVEN, A= $1250 T=312 R=8%

Q: On January 1, Frank bought a used car for $7200 and agreed to pay for it as follows: down payment;…

A: Time has been valuable in all aspects but in terms of finance, time has a money value. The worth of…

Q: the first due at the end of x years. Find x. a. 4 b. 7 c. 3 d. 8

A: Time value of money (TVM) refers to the method used to measure the amount of money at different…

Q: Jie purchased a computer priced at $891.06, financing it by paying $60.38 on the date of purchase,…

A: Finance amount (F) = $891.06 - $60.38 = $830.68 Number of payments (n) = 15 r = 11.9% per annum =…