A woman paid $92,000 down for a house and agreed to pay 18 quarterly payments of $4,200 each. If money is worth 4% compounded quarterly, how much (in $) would the house have cost if she had paid cash? (Round your answer to the nearest cent.)
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- Panpan purchased a car. She paid 250,000 as down payment, and 5,500 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly. 1. What is the equivalent cash price of the car? 2. What is the periodic rate?A woman paid $98,000 down for a house and agreed to pay 18 quarterly payments of $4,100 each. If money is worth 4% compounded quarterly, how much (in $) would the house have cost if she had paid cash? (Round your answer to the nearest cent.)A woman paid $99,000 down for a house and agreed to pay 18 quarterly payments of $4,900 each. If money is worth 4% compounded quarterly, how much (in $) would the house have cost if she had paid cash?
- Please help me answer the following time value of money question. Suppose Nicole deposits $50,000 in an account that pays 9% compounded annually. How long does it take before her balance is $125,000?A woman wishes to save $20,000 for a down payment on a home. She can afford to set aside $1100 per quarter, and she has found a credit union that pays 0.6% compounded quarterly. How long, in years, will it take her to save the money? Round your answer to the nearest hundredth.Margaret Moore expects to need $44,000 for a down payment on a house in six years. How much would she have to invest today in an account paying 8.25 percent in order to have $44,000 in six years? (Round answer to 2 decimal places, e.g. 52.75.)
- A young executive is going to purchase a vacation property for investment purposes. She needs to borrow $91,000.00 for 29 years at 6.3% compounded monthly. (Round all answers to the nearest cent.) a) What is the monthly payment amount? b) What is the unpaid balance after 10 months? c) During this time period, how much interest did she pay?A family has a goal of saving $31,000 to be used as the down payment for a house. If they put $27,500 into an account earning 6.72% interest compounded monthly, how many years will it take until the account has $31,000 in it? Round your final answer to two decimal places.Linda Williams expects to need $ 42,000 for a down payment on a house in six years. How much would she have to invest today in an account paying 6.25 percent in order to have $ 42,000 in six years? (Round answer to 2 decimal places, e.g. 52.75.) $ Present value
- Polly purchased a car. She paid ₱150,000.00 as down payment, and ₱5,500.00 payable at the beginning of each month for 48 months. Money is worth 12% compounded monthly.What is the periodic rate? How many payments must be made? What is the equivalent cash price of the car?A couple who borrow $70,000 for 15 years at 8.4%, compounded monthly, must make monthly payments of $685.22. (a) Find their unpaid balance after 1 year. (Round your answers to the nearest cent.) $ (b) During that first year, how much do they pay towards the principle? (Round your answer to the nearest cent.) $ During that first year, what are their total payments? (Round your answer to the nearest cent.) $ During that first year, how much interest do they pay? (Round your answer to the nearest cent.) $A couple who borrow $70,000 for 15 years at 8.4%, compounded monthly, must make monthly payments of $685.22. A) Find their unpaid balance after 1 year. (Round your answers to the nearest cent.) B) During that first year, how much do they pay towards the principle? (Round your answer to the nearest cent.) C) During that first year, what are their total payments? (Round your answer to the nearest cent.) D) During that first year, how much interest do they pay? (Round your answer to the nearest cent.)