suppose you want to buy a new car that costs you 11284 OMR by a loan from bank Muscat for 6 years. the bank charges you 4.004 percent on your loan. what is the annual payment should you pay to the bank every year on your loan? Select one: a. 1807.91 b. 2152.84 c. 59144.52 d. 2660.41 e. None of the options

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

Q: suppose you want to buy a new car that costs you 15584 OMR by a loan from bank Muscat for 6 years.…

A: PMT is the periodic installment

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Q: suppose you want to buy a new car that costs you 15514 OMR by a loan from bank Muscat for 6 years.…

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Q: 1. You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly…

A: Using the PMT function in excel

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A: Annual payments or saving refers to the periodic payment that can be made towards repayment of a…

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Q: suppose you are planning to buy a home in 8 years from now that costs you 52387 OMR,  How much…

A: Given:

Q: 360 days To complete the sale of a house, the you accept a 240-day note for $9,000 at 7% simple…

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Q: Finally, you have decided to buy a car. You are able to negotiate the price down to $12,000. You…

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Q: 43. You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year…

A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…

Q: Suppose you want to buy a $141,000 home. You found a bank that offers a 30-year loan at 3.7% APR.…

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

Q: ou want to buy a $140000 home. You plan to pay $14000 as a down payment, and take out a 20 year loan…

A:

Q: Suppose you want to buy a $147,000 home. You found a bank that offers a 30-year loan at 3.3% APR.…

A: Mortgage/ Borrowings:  Borrowings are the loan which is taken by the individual to meet its…

Q: suppose you are planning to buy a home in 8 years from now that costs you 55980 OMR, How much should…

A: The annuity term is a financial term that reflects a stream of equivalent periodic cash flows over a…

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Q: uppose you want to buy a new car that costs you 11993 OMR by a loan from bank Muscat for 6 years.…

A: Solution: Annual payment to be paid to the bank every year will be computed by dividing the amount…

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A: a. Calculate the monthly interest rate as follows: Monthly interest rate is 0.75%

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A: Loan :— Loan is the lending of money by one or more individuals, organizations, or other entities to…

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A: PV is the current worth of cash flows that are expected to happen in the future

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A: Two points of loan is that 2% discount on loan.

Q: You are ready to buy a new car. You can afford to repay $300 each month for 60 months (paid at the…

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A: Answer-  Option(C) SPCAF- Single payment compound amount factor. It means payment is done at one go…

Q: Your friend has agreed to give you an interest free loan of $5,000 in 2 years' time for a down…

A: Working note:

Q: suppose you are planning to buy a home in 8 years from now that costs you 47114 OMR, How much should…

A: Here, Future Value of home is OMR 47114 Time Period is 8 years Interest Rate is 6.012%

Q: suppose you want to buy a new car that costs you 15514 OMR by a loan from bank Muscat for 6 years.…

A: Given: Loan = OMR 15,514 Interest rate = 4.004% Year = 6

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A: Note: I am supposed to provide the solution to the first question only. Please repost question no…

Q: You want to buy a $280000 home. You plan to pay $56000 as a down payment, and take out a 15 year…

A: A mortgage is the type of loan that a person is required to buy a house. It is the loan in which a…