Which of the following is the recommended guideline for the maximum amount to borrow in order to keep your monthly payments manageable?     Expected first-year salary for your chosen job   Average salary for your chosen job   Expected first-year salary for your chosen job times 1.25

Q: Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500…

A: The loan is the amount of money which would result in the amount of money borrowed and used for…

Q: A bank pays one percent interest on savings account four times a year. What is the actual annual…

A: Interest rate is charged by the lender for using its money.

Q: What can be best said about a banker whose interest rate is 20% on a one-year loan worth $1000…

A: A loan is a sum of money that is borrowed by an individual or organization from a lender with an…

Q: Credit histories allow firms to ( A) identify high-risk borrowers, so they can be eliminated and…

A: Credit history is report on repayment of debts and demonstrated responsibility in repaying them. It…

Q: Felix is purchasing a brownstone townhouse for ​$2,100,000. To obtain the​ mortgage, Felix is…

A: The purchase cost of a home is $2100000The down payment is 16% of the purchase costNumber of payment…

Q: If a lender makes a simple loan of ​$800 for 4 years and charges 3%,then the amount that the lender…

A: The objective of the first part of the question is to calculate the total amount that the lender…

Q: For the following questions, choose the letter of the best answer (Show any work and explanations):…

A: Using straight-line depreciation,, 99, 254); position: relative; display:…

Q: If a lender makes a simple loan of $400 for 5 years and charges 7​%, then the amount that the lender…

A: The objective of the first part of the question is to calculate the total amount that the lender…

Q: Which of the following statements is true over the term of a fixed rate mortgage? Although monthly…

A: A mortgage is a formal arrangement wherein a bank, building society, or other lending institution…

Q: Suppose Neha is a sports fan and buys only baseball caps. Neha deposits $3,000 in a bank account…

A: Real interest rate is an interest rate that has been adjusted to remove the effects of inflation.

Q: A is an example of revolving credit.

A: Credit refers to a ‘contractual agreement’ in which a borrower gets something of value now &…

Q: f an insured purchases an Annuily from which income is received, the insured is the receiver…

A: Answer is given below

Q: What is an interest “reference rate,” and how is it used to set rates for individual borrowers?

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

Q: We need to find an effective interest rate that covers the payment period. Illustrate this concept…

A: Effective interest rate can be described as the interest rate gained or paid in actual on a project.…

Q: The return a lender receives for allowing borrowers the use of their savings for one year,…

A: Disinflation is the decrease in inflation rate over years.  Real interest rate is the rate of…

Q: It refers to the actual or exact rate of interest earned on the principal during a one year period.…

A: There are different ways to calculating interest earned on investment in a specific year, and…

Q: In Economics, an refers to a direct payment made to others when running business.

A: In economics EXPLICIT COST refers to a direct payment made to others when running of the successful…

Q: For a simple interest loan with interest rater (expressed as a decimal), the amount A due at the end…

A: Under simple interest, compounding is done on a fixed principal.

Q: In contrast to revolving credit, installment credit loans allow a borrower to do which of the…

A: A credit loan is a type of loan granted to an individual or a business with the understanding that…

Q: When investing or saving money for retirement, which type of interest would benefit the most from?…

A: When investing or saving money for retirement which type of interest would benefit the most from?…

Q: Which of the following is NOT a retirement plan? a) 401k plan b) 529 plan c) IRA plan d) 501(c)…

A: Retirement planning is the process of securing life after retirement when the person will be unable…

Q: how does evonomics play a role in policy or public discussion related to having a car

A: A central bank refers to a financial institution that acts as the primary authority responsible for…

Q: You borrow $800 from a family member and agree to pay it back in nir months. Because you are part of…

A: Simple interest is denoted as the procedure for solving the interest amount for a given principal…

Q: Greg wants to have $50 000 in five years. He has $20 000 today to invest. The bank is offering five-…

A: Given  Greg wants to have $50,000 in five years.  Principal amount = $20,000  Interest rate…

Q: What type of annuity where the periodic payments (withdrawals) continue indefinitely?  a. Annuity…

A: Disclaimer: - Since you asked for multipart question, we are solving only first 3 subparts as per…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $3000, r = 3.1%, t = 23 days

A: Simple interest is calculated as the product of principal , interest rate and time.  So,  I = P × r…

Q: Offering anything such as a premium rebate, premium discount, credit, service or anything of value…

A: In economics, an assets will have some value in the market at which it is offered to exchange…

Q: What type of professional is trained to help you save for retiremer O financial planner O auditor O…

A: A professional helps people to manage and plan the finances prudently. Such planning helps the…

Q: You are planning to take out a 5 hundred thousand dollar fixed-rate mortgage with a 30- year term…

A:

Q: Toni received a loan of $200,000 at 10% interest. The interest was deducted from the loan at the…

A: SI=P*R*T/100 where, P-Principal R-rate of interest T-time

Q: A coupon bond has two years to maturity, a face value of $1000 and a coupon rate of 2%. The yield to…

A: Given, Par value of bond =$1000 Number of years to maturity = 2 Annual coupon of bond = 2% *1,000…

Q: For an $8 fee, a loan shark says that you can immediately borrow up to $400 for one month (For…

A: The interest rate that is stated or quoted on a loan, investment, or other financial instrument is…

Q: credit?

A: Credit report consist of current and past information regarding the credits that an individual hold.…

Q: Gary Watson, a graduating business student at a small college, is currently interviewing for a job.…

A: Introduction Gary Watson, a business major at a tiny college, is currently in the middle of a job…

Q: 15,000 =(1+r) 3500+24000 How do I find what is interest (r)? Please provide an breakdown of…

A:

Q: At what rate of interest will an investment double itself in 10 years?

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: A financial institution is willing to lend you $2,000. However, you must repay $2,008 at the end of…

A: An investment is a possession or thing bought with the intention of making money or appreciating in…

Q: An engineer invests $5,800 at the end of every year for a 35-year career. If the engineer want $1…

A: Rate of return is a financial measure used to evaluate the profitability or performance of an…

Q: At the end of the month, you have only $20 left in your checking account. You deposit your $200…

A: Starting balance: $20 Deposited paycheck: $200 Charge for depositing a bad check: $54