What is the amount Ginger Logan can borrow today it must be in 13 with simple interest at 5% and sho knows that at time she will be able to repay no more than 66000

Q: Joey realizes that he has charged too much on his credit card and has racked up $5,400 in debt. If…

A: Given ,Present value (PV) = $5,400Monthly payment = $125Interest rate = 0.18 / 12 = 0.015AB1Present…

Q: What is the maximum amount Ginger Logan can borrow todayif it must be repaid in 11 months wiith…

A: Simple interest is a way of calculating the amount of interest charged on a sum at a particular rate…

Q: 10. Kristine has $5,000 in an account today that pays 3% interest rate. Two years from now she…

A: Note: As per the Bartleby guidelines, we can answer only the first question. Kindly post the…

Q: Suppose a bank offers you an 6 25% interest rate on a 30-year mortgage to be paid back with monthly…

A: Monthly payment (C) = $1700 Monthly interest rate (r) = 0.00520833333333333 (i.e. 0.0625 / 12)…

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 are to receive $ 400,000 exactly 5 years from now. You do not want to wait for the money and…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: What is the value today of a money machine that will pay $2,022.00 per year for 20.00 years? Assume…

A: Present value refers to the discounted value of all the future cash flows for the specified period…

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: 2. I decided to buy a house for $289,900. I have enough in savings to put 10% down on the house and…

A:

Q: 2

A: Interpretation: Present value refers to the current valuation for a future sum. Investors determine…

Q: What will be your monthly payment on a $500,000.15 and 30 year mortgage if the rate is 7.15% for…

A: Monthly payment is the amount calculated for the repayment against the loan or mortgage created for…

Q: Suppose I want to be able to withdraw P500,000 at the end of five years and withdraw another…

A: The present value of money is the discounted value of future cash flows required. The amount to be…

Q: ana has to pay RM1,200 every month for 360 months to settle a housing loan at 4% compounded…

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

Q: Please correct answer and don't use hend raiting

A: If you find this answer good please rate it helpful. If any query then raise it.Thank You!

Q: e situation described below, identify the initial payment, the term interest rate, and the number of…

A: Future value of the deposit includes the initial amount and amount of interest being accumulated…

Q: (2) Jack has deposited P1,000 into a savings account. He wants to withdraw it when it has grown to P…

A: Future value = Present Value* (1+Rate of Interest)t Here t is the time period or we can also say…

Q: norigage has 21 years left, and has an APR of 8.707% Withn montniy payments of $1,449. at is the…

A: The mortgage loans are to be paid by the monthly payments and these monthly payments carry the…

Q: 5000. She can borrow from a finance company at 6.90% add-on interest for 4 years. Or she can borrow…

A: In the add on method of interest all interest for the period of the loan is added at one time and…

Q: H3. Margo borrows $700, agreeing to pay it back with 5% annual interest after 13 months. How much…

A: Interest is the amount of profit earned by the lender for the amount borrowed and this is the…

Q: If I can invest R120 today and I want to have R500 in my account 4 years from today at what interest…

A: Amount invested Today=120Year-2 , Amount invested=100Year-4, Amount Received =500Time period=4…

Q: A3) Finance Ahmad deposits $1,200 in her bank today. If the bank pays 4 percent simple interest, how…

A: Interest is defined as the price that is paid by the borrower for the money borrowed by him or the…

Q: If Greg borrows $140.00 from the bank at 6.5% exact simple interest, how much interest does Greg owe…

A: The simple interest can be computed using the principal amount, the time period, and the interest…

Q: the 26. If Vanessa wants to withdraw $200 from an account every month for the next 5 years and…

A: Present value is the equivalent today of the future cash flow that would same cash flow and is based…

Q: 18. Karen wants to borrow $5,000 and she is a bit desperate. She says “I’ll pay you $500/year at…

A: Present Value of Ordinary Annuity refers to the concept which gives out the discounted or today's…

Q: x is the last digit of your student number 1. You want to buy a new house which is sold for TL…

A: Annuity refers to series of annual payment which is paid or received at start or ending of specific…

Q: what will be the loan factor?

A: Loan factor can be defined as the present value factor of loan amortization. Loan factor is given by…

Q: What is the maximum amount Ginger Logan can bonow todaymust be repaid in 17 mordhs with sinple…

A: Simple interest number in the question is illegible. I assume to have taken the correct number…

Q: which formula 2.Jacob borrows $3,000 at 5% exact interest for 540 days. How much does he need to pay…

A: Simple interest is calculated on the principal using the given rate of interest for the required…

Q: A student can afford to spend no more 150 e per month on a loan to pay his college fees. If the…

A: Compound = monthly = 12 Payment = p = 150 Interest rate = r = 2 / 12% Time = t = 5 * 12 = 60

Q: A trustworthy friend asks to borrow money from you today. She promises to pay you exactly $3750 in 2…

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

Q: 4 years? What is the effective interest rate if the present worth factor is 0.6875

A: Present value factor is the factor used to convert a future cashflow to current terms. That is, when…

Q: 5. Hussein is purchasing a home for OMR200000. Me is making a 20% down payment and will sign a…

A: Given information The Purchase amount of Home = OMR 2,00,000 Down Payment = 20% ,Remaining Amount of…

Q: What will be the deposit amount for Jane if she wants to buy a car within 7 years with a price of…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.