MInbox (14,76 x/vhs1 8 sec 0.51 × echegg Stud x GAHomeown × ? Oprah Winfr × ?Opt
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MInbox (14,76 x/vhs1 8 sec 0.51 × echegg Stud x GAHomeown × ? Oprah Winfr × ?Option Chair X WebAssign × G weight wa cl 6C www.webassign.net/web/Student/Assignment-Responses/submit?dep-18605821 2. 1.1/1 points Previaus Answers HarMath4115 00r My Notes Ask Your Teach A homeowner planning a kitchen remodeling can afford a $100 monthly payment. How budget? (Round y $ 4517.57 uch can the homeowner borrow for 4 years at 3%, compounded monthly, and still stay within the answer to the nearest cent. Need Help? Read ItWatch I 3. 9.9/11 polnts | Previous Answers Harf.latnAp11 6.5.c0g My Notes Ask Your Teach Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $140,000 for 3 years at 11% compounded annually Period Payment Interest Balance Reduction Unpaid Balance $140,000 ?98110.17 $57289.33 57289.83 $57289.83 15400 S 10792.12 S 5677.37 $ 41889 $ 46497.71 $ 51612.46 X $0.00 Need Help?ReadIt 4. -11 paints Har MathAp11 55 013 My Notes Ask Your Teach A $13,000 loan is to be amortized for 10 years with quarterly payments of $454.64. If the interest rate is 7%?compounded quarterly, what is the unpaid balance immediately after the sixth payment? (Round your answer to the nearest cent.) Need Help? Read it Watch ItExplanation / Answer
Total money he can pay = 48*100= $4800
A=P(1+(R/100)^n
4800=P (1+3/12*100)^48 {3/12 is the acutal rate as interest is compounded monthly. and time is 48 months}
4800=P*1.12
P= 4800/1.12
=$ 4285.71
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