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

Q: If you deposit OMR 8141 in your account in a bank. Suppose the bank pays 8% compound interest half…

A: Given information: Deposit (Present value) : OMR 8141 Rate of interest : 8% Time Period : 5 years…

Q: You are selling your car and the dealership says to you, "we can either give you $15,000 today or we…

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

Q: A life insurance co. is trying to sell you an investment policy that will pay you and your heirs…

A: Perpetuity refers to a financial concept where a stream of cash flows continues indefinitely. It is…

Q: What will be the value of the investment in two years? Select one A. 5441 OMR b. None of these c.…

A: Information Provided: Pricipal = 5000 Term = 2 years Interest rate = 4.25% quarterly

Q: ssume that you wish to trade in your old car and buy a new car. The new car has a list price of…

A: Price of new car=$26983.54Number of payments=n=72Monthly rate=r=3.84/12=0.32%

Q: If you deposit OMR 20930 in your account in a bank. Suppose the bank pays 8% compound interest half…

A: When interest is compounded multiple times in a year: Future value = Present value *(1+r/m)n*m  r is…

Q: If Kenzo wants to have $19,000 in his account exactly 8 years from todayhow much should Kenzo…

A: Future value required = FV = $19000Period = nper = 8 yearsInterest rate = rate = 10%Kenzo wants to…

Q: You need to have OMR 15000 in five years to payoff a home loan. You can invest in an account that…

A: Given:

Q: You have a loan outstanding. It requires making seven annual payments of $4,000 each at the end of…

A: The future value of the annuity is the sum of a series of payments received at a fixed time in the…

Q: You have decided to buy a car. The car cost RM 50 Q00 You are taking a loan from a bank with the…

A: Calculation of installment price = Loan Amount/ PVA(3%,5 years) = 40000/55.6523 = $ 718.74

Q: You are looking to buy a home in San Marcos. The bank offers you a fifteen-year loan with a 6.0% APR…

A: Here, Particulars Option A Option B Loan amount (PV)  $ 3,30,000.00  $ 3,30,000.00 Time…

Q: Example 6 A person requires a loan of R10 000. The bank offers a simple interest rate of 15% p.a..…

A: Lets understand the basics. For calculating loan period we will need to use below formula. Interest…

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A: In this problem, we will first calculate the effective rate on the full tenure of the loan using the…

Q: If you deposit OMR 19500 in your account in a bank; suppose the bank pays 16.25% compound interest…

A: Future value is calculated by compounding the present value at a given compounding rate.

Q: If you borrow $6,000 for 4 years and agree to pay back $8000, what simple interest rate will you end…

A: Simple interest is the type of interest that is calculated only on the principal amount. Simple…

Q: Suppose someone offered to sell you a note (an investment) that calls for $1,000 payment two years…

A: .Future Value (FV) :FV represents the projected worth of an initial sum of money at a specific point…

Q: You are interested in buying a new car. The sticker price is $38, 616.00 and you have $3,434.00 to…

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

Q: A lending company advertises that for a fee of P10, you can immediately borrow up to P200 for one…

A: Annual rate of return = (Monthly fee / Amount Borrowed) * 12 Amount Borrowed = P200 Monthly Fee =…

Q: Suppose you want to buy a $146,000 home. You found a bank that offers a 30-year loan at 5.3 % APR.…

A: Amount of Loan is $146,000 Time period is 30 years Interest rate is 5.3% To Find: Monthly payment…

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Q: Say that you purchase a house for $206,000 by getting a mortgage for $185,000 and paying a $21,000…

A: House Cost =  $206,000 Down Payment = $21,000 Mortgage Amount = $185,000 Time Period = 25 Years…

Q: Suppose you have borrowed $50 from a foreign lending institution. The loan requires a payment of 6…

A: Loan Amount  $                                   50.00 Time Period (Days) 6 Periodic Payment  $…

Q: You want to buy a $50,000 car. You can finance the car for 0.9% interest for 5 years. You decide to…

A: Solved using Financial Calculator  Assuming Interest rate is 0.9% per annum compounded monthly…

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

A: given, r = 2.5% n = 3 m =12 p =12000 applying formula for monthly payment:…

Q: Use a banker's year described above to answer this question. To complete the sale of a house, the…

A: Simple Interest: It is the interest charged on loan/savings account . Calculation: Daily interest is…

Q: Wants to loan from a certain bank. He asks you for a piece of advice for him to save from the loan.…

A: To analyse the given options, we shall compare the effective interest rate which can be calculated…

Q: You plan to borrow P10,000 from your bank, which offers to lend you the money at a 7.5% nominal rate…

A: Nominal rate (D)= 7.5% Borrowed amount = P10,000

Q: Q4. A local bank advertises the following deal: "Pay us $100 at the end of each year for 10 yearsand…

A: A. Present Value of Your Payments to the BankThe formula for the present value 𝑃𝑉 of an ordinary…

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Q: You have the following choice:  You can receive $1,000 today or $1,100 in one year.  The annual…

A: Option 1- Receive $1000 today Option 2 - Receive $1100 in one year

Q: You take a loan from a bank to buy a car with a value of 100000 for 5 years (60 months). You pay…

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Q: Suppose you are buying your first home for $144,000, and you have $17,000 for your down payment. You…

A: purchasing price = $144,000 down payment = $17,000 loan amount = $144,000 - 17,000…

Q: Assume that you wish to trade in your old car and buy a new car. The new car has a list price of…

A: =$12235.13

Q: You decide to originate the loan, but move at the end of 5 years. What is the remaining balance you…

A: Loan Amount  $                   3,00,000.00 Time Period 30 Years Interest Rate 7.20%

Q: enext five years, and the annual interest rate is 6%. ich of the following formulas determines…

A: Loans are to paid by equal monthly payment that carry the payment for the interest and payment for…

Q: You have decided to take a 4-year loan in order to purchase a vehicle. The loan will be for $26,200…

A: Loans are paid by equal monthly installment and these installment carry the payment for interest and…

Q: ANNUITY: Suppose you owe $1,500 on your VISA card and the interest rate is 2% per month. If you make…

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Q: You would like to borrow $800,000.00 to buy a home. The bank offers you a 30 year fully amortizing…

A: Loan amount = $ 800000Number of years = 30Number of months= n= 30*12 = 360Monthly rate = r = 6%/12 =…

Q: You borrow $22947 to buy a car. You will have to repay this loan by making equal monthly payments…

A: In an annuity payment, the present value of all future annuity payments is calculated using the…

Q: You want to buy a car and therefore you borrowed $10,000 from a bank today for 6 years. The nominal…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: If you deposit OMR 19500 in your account in a bank; suppose the bank pays 16.15% compound interest…

A: Present value is OMR 19500. This amount earns interest at 16.15% interest rate that compounds…

Q: A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 6.0 percent with zero…

A: In a points system, the borrower can pay 1% of the loan amount for 1 point and have a certain %…