To buy some furniture, Asmaa can put $150 down and "don't pay a cent" for 6 months. At the end of 6 months, she begins making monthly payments of $100 for 2-years. If j12 = 8.4%, what is the equivalent cash price of the furniture?

Q: Kiki bought a computer for Rp. 8,000,000, -. If he bought it With credit, he must prepare advance…

A: The portion of the purchase price of goods and services that are paid immediately at the time of…

Q: When you retire, you plan to draw $50,000 per year from your retirement accounts, which will be…

A: Annuity is the no. of payments which are equal in size and made in equal interval of time. Person…

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: Jasmine hopes to get her liquidity ratio up to 2.2 months soon. (Right now it's much lower.) If her…

A: To calculate the amount of money Jasmine needs in cash, checking, or savings to reach her goal of…

Q: 1. If money is worth 5% compounded quarterly, how much must Julea save every end of three months to…

A: Here we will use the concept of time value of money. As per the concept of time value of money it is…

Q: livia recently bought a house for $355,000 using a 10 year home loan with 4.25% interest rate. She…

A: Mortgage loans are paid by equal monthly installments and these installments carry the payment for…

Q: how many years will it take her to pay back the loan?

A: A person defers his or her current payment liability via loan. A loan is provided by a bank, who…

Q: you live in the mobile home for four years, but your roommate also pays you $3,000 a year, paid to…

A: Present Value: The worth of the cash flow or stream of payments that would be received in the future…

Q: Zoë is buying a new car. Because of her excellent credit, Zoë is getting her financing at 3.25% APR.…

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

Q: Derek would like to save for a down payment on the purchase of a new SUV in 24 months. The targeted…

A: Down payment = $15,000Monthly interest rate = 0.875%Number of months = 24 months

Q: You plan to graduate in 4 years, and then travel to Italy for 3 weeks. The trip will cost $ 1,600.…

A: PV function in Excel returns the present value of an annuity.Syntax: =PV(rate, nper, pmt, fv)

Q: How much should Bianca have in a savings account that is earning 2.50% compounded monthly, if she…

A: Solution:- When an equal amount is withdrawan each period at end of the period, it is called…

Q: 15. If the amount required is $10,000 after 5 years at 3% compounded monthly, what is the monthly…

A: Inorder to accumulate a given amount of money or equivalent to the given present value, periodic…

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: Crispin wants to buy a motorcycle. His mother will loan him some money at only 6% compounded…

A: Given, The rate is 6% compounded quarterly. Amount to be repaid is P3600 in 2 years

Q: one wants to know the amount of money she will be receiving after 6 months pinion if she will be…

A: The future value of money includes the amount deposited and interest being accumulated over the…

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: Mike and Terri estimate that they want to buy a house for $186,000.00, and they need to make a down…

A: The first step is to calculate the amount of the down payment. This is done by multiplying the cost…

Q: Alexa needs $8,600 worth of new equipment for his shop. He can borrow this money at a discount rate…

A: Loan Proceeds are the amount that is disbursed from a loan, which is usually lesser than the loan…

Q: You decide that you need $47,000 in 3 years to make a down payment on a house. You plan to make…

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

Q: he Weidmans want to save $45,000 in 3 years for a down payment on a house. If they make monthly…

A: Monthly payments that are required to meet the goal are periodic deposits made in view of reaching a…

Q: His monthly payment will be $ (Round to the nearest cent.)

A: Annuity Payment: These payments are made in a series having equal intervals. Examples of annuity…

Q: If Sam can afford payments at $390 per month for 6years. what is the price of a car that she can…

A: Here, Monthly Payment (PMT) is $390 Time Period (n) is 6 years Interest Rate (r) is 6.6% Payment…

Q: Ellen is shopping for a truck and has up to $325 to spend biweekly at a dealership in Selkirk, MB…

A: Maximum bi-weekly payment "PMT" = $325 Number of years = 25 Number of periods "NPER"= 5*52/2 = 130…

Q: Bozo decides to take out a loan for $50,000 for 5 years at 7% monthly. If he pays an extra $200 per…

A: The periodic payment is the amount that will be paid every period until the loan amortized which…

Q: argaret Foster wants to buy a new camper in 6 years. She estimates the camper will cost $6,400.…

A: Future value refers to the value of a current asset at some future date affected due to inflation…

Q: A couple want to buy a house that costs $542 000. They pay a 20% deposit and borrow the rest of the…

A: House value = $542,000 Loan amount (P) = House value * (1 - Down payment) Loan amount (P) = $542,000…

Q: You decide to do some remodeling in the kitchen. Your parents agree to lend you the money, but you…

A: Simple interest is calculated by multiplying borrowed amount , interest rate and time.   Simple…

Q: My daughter wants to buy a new car. Here are the parameters. The car cost $12,000 with terms of 5%…

A: While taking a loan for any purpose one should evaluate the payment schedule where the requirement…

Q: 4) Brenda is buying a living room set for her home. At Furniture, Inc., she picks out a set for a…

A: With an installment loan, the borrower receives a fixed amount of money and repays it over a…

Q: Anu wants to put aside an amount at the beginning of each month while working for the next 5 years…

A: " Hi, Thanks for the Question. Since, you asked multiple questions, we will answer first question…

Q: 6) Susan is looking to purchase her first home five years from today. The house costs $1,550,000.…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: The Weidmans want to save $25,000 in 4 years for a down payment on a house. If they make monthly…

A: FORMULA FOR MONTHLY PAYMENT: PMT = P×rm1-1+rm-m×n p = principal r= rate of interest m = frequency of…

Q: Brayden and Noah plan to purchase a home for $140,000. They will pay 20% down and finance the…

A: An annuity is a series of cash flows that involve an equivalent amount occurring at equal time…

Q: Mike and Terri estimate that they want to buy a house for $186,000.00, and they need to make a down…

A: The objective of this question is to find out how much Mike and Terri need to invest now in order to…

Real Estate

Real estate means ownership of land along with the assets and natural resources that exist on the land. These properties are in real/physical form which is tangible. Real estate simply means land or addition made to land permanently like constructing a residence or different buildings. People invest in real estate to either reside or for wealth creation. Many people investing in real estate further lend the place for occupation or businesses in return for a monthly payment.