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- Fast pls solve this question correctly in 5 min pls I will give u like for sure Surbh Suppose you want to purchase a house. Your take-home pay is $3740 per month, and you wish to stay within the recommended guidelines for mortgage amounts by only spending 14 of your take-home pay on a house payment. You have $17,500 saved for a down payment and you can get an APR from your bank of 5.05% , compounded monthly. What is the total cost of a house you could afford with a 15 -year mortgage? Round your answer to the nearest cent, if necessary.Find the interest paid on a loan of $2,600 for three years at a simple interest rate of 10% per year. .... The interest on the loan is $ st Help Me Solve This Calculator Get More Help - Cle JDecimals & Percents.6 J Decimals & Percents-7 / Decimals & Percents-8 ype here to search DELL prt sc F10 F2 F3 F4 F5 F6 F7 FB F9 %23 %24 & 4. 7. R. * CO 5Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?
- 4. Consider a credit card with a balance of $7000. You wish to pay off the credit card, which has an APR of 17.99%, within 1 year. Calculate the following. Round your answer to the nearest cent, if necessary. a. Find the number of months you will need to pay the credit card if you pay $585 per month. b. Will you meet your goal and have the credit card paid in one year?Scenario D: Six months later your credit card is carrying a balance of $500. You decide that you want a new TV from Target for $350 and also charge that to your credit card. Since you continuously carried a balance, your credit card company upped your APR from 19.5% to 21%. Assume you do not charge anything extra to your card. 16. What is your starting balance? 17. What is the minimunm payment you must make?COMPARING INTEREST COST. You currently have a credit card that charges 18.99% interest. You receive an offer for a new credit card with a teaser rate of 9.99% for the first 6 month...after that the rate goes up to 24.99%. 14a) What is the total annual interest on the current credit card? 14b) What will be the interest in the first year after you switch? 14C) Should you switch? why?
- How much do you have to deposit today so that beginning 11 years from now you can withdraw $ 15,000 a year for the next 4 years (periods 11 through 14) plus an additional amount of $ 30,000 in the last year (period 14)? Assume an interest rate of 5 percent. Question content area bottom Part 1 The amount of money you have to deposit today is $ enter your response here . (Round to the nearest cent.)Apply the concept from page 8-9 practice 4 of the VLN: How much could you borrow today if you make monthly payments of $300.00 for the next 5 years with a market rate of interest of 3%? Round your answer to the nearest dollar.________(Use Formula Approach or Calculator Approach) You ran a little short on your spring break vacation, so you put $1,000 on your credit card. You can afford only the minimum payment of $20 per month. The interest rate on the credit card is 1.5 percent per month. How long will you need to pay off the $1,000?
- Hi please answer 2b. You decide to take advantage of the store’s payment plan. The payment plan’s terms are as follows: 18 equal monthly payments, 6% interest, compounded monthly. a) What is the total cost that you will end up paying for the Chromebook? b) What will your monthly payment be?You want to buy a car and therefore you borrowed $10,000 from a bank today for 6 years. The nominal interest rate that the bank charges is 7.2%. If you start making equal end-of-month payments then what will be your approximate monthly installment? Group of answer choices $160.31 $154.31 $171.45 $170.43Question 8 You want to buy a Car that costs $23,000. You make a $3,000 down payment. You finance the rest at 2.4% interest over 6 years with monthly payments. Answer the following: 1. Write the Equation for the Formula for how much your monthly payment will be: (use the math tool given by the VI symbol above if you can) 2. If your monthly payment is $300 a month how much interest do you pay over the course of the loan? 3. If you were to pay off the loan in 5 years instead of 6 years: Would the monthly payment increase or decrease? 4. If you were to pay off the loan in 5 years instead of 6 years: Would the amount of interest payed increase or decrease?