Reference no: EM132038856
Question #1 - Simple Interest
Roger borrowed money to finance a new boat. The bank offered Jack $28,000 of the $35,000. To make up the difference, Jack secured a small personal, simple interest loan. Jack's loan was structured as an installment loan that required him to pay $297.50/month for 30 months. Calculate the amount financed, total installment price, the finance charge, and the interest rate.
Question #2 - Annuity Payment
James is saving money to open a corner store. He needs $15,000 in two years to make his down payment and is investing in an annuity yielding an annual interest rate of 7% compounded monthly. If the annuity requires that James make monthly investments, what annuity payment must James make to save $15,000?
Question #3 - Mortgage Financing
Peter and Rachael purchased a home costing $269,000. A mortgage company financed the home at a 5.5% rate and 30-year term, requiring that they make a 15% down payment. Calculate the down payment and monthly mortgage payment that Peter and Rachael must pay.
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The reward-to-risk ratio is higher
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Probability of having a girl is equal to the probability
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Company recommend replacement or upgrade the system
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Express the velocity d of the drone relative
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Calculate the amount financed-total installment price
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Invest the rest in a fixed term account
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What will be the principal balance outstanding on mortgage
: What will be the principal balance outstanding on this mortgage after four years?
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What is the average population? density
: The land area of a country is about 5.5 million square? miles, and the population is about 600 million people. What is the average population? density?
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Considering all kevin financial goals and expenses
: Summarize in a table Kevin’s monthly financial plan for the next 10 years. Is it a reasonable plan, considering all Kevin’s financial goals and expenses?
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