Question: A small business refits its store. The builders charge them $125,000, which will be paid back in monthly installments over three years at 6% APR.

A small business refits its store. The builders charge them $125,000, which will be paid back in monthly installments over three years at

A small business refits its store. The builders charge them $125,000, which will be paid back in monthly installments over three years at 6% APR. The builders will reduce this rate to 5.5% APR if they pay $2500 up front. By approximately how much will this reduce the monthly loan repayments? $104 $28 $214 $77 $192 Liam had an extension built onto his home. He financed it for 48 months with a loan at 4.9% APR. His monthly payments were $750. How much was the loan amount for this extension? $32,631 $34,842 $36,000 $38,420 $37,764

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

An employee, Fred, working in the accounts office of a medium-sized company listed on the Nairobi Stock Exchange, was working late one evening during the week. He realized he had left his pen in the...

A small business refits its store. The builders charge them $125,000, which will be paid back in monthly installments over three years at 6% APR. The builders will reduce this rate to 5.5% APR if...

A small business refits its store. The builders charge them $128,000 which will be paid back in monthly installments over three years at 8.6% APR. The builders will reduce this rate to 8.1% APR if...

A small business refits its store. The builders charge them $121,000 which will be paid back in monthly installments over three years at 7.5%APR. The builders will reduce this rate to 7% APR if they...

A small business refits its store. The builders charge them $128,000 which will be paid back in monthly installments over three years at 8.7%APR. The builders will reduce this rate to 8.2%APR if they...

Places answer all question. Thanks Question 2 1.5 pts A small foundry agrees to pay $420,000 three years from now to a supplier for a given amount of coking coal. The foundry plans to deposit a fixed...

A small business repairs its store. The builders charge them $130,000 which will be paid back in monthly installments over three years at 6.80% APR. The builders will reduce this rate to 6.30% APR if...

A small business repairs its store. The builders charge them $350,000 which will be paid back in monthly installments over six years at 4.30% APR. The builders will reduce this rate to 3.50% APR if...

Kateri Ltd sold an item of plant to its subsidiary, Patrick Ltd, on 1 January 2022 for $50 000. The asset had cost A Ltd $60 000 and had a useful life of 6 years when acquired on 1 January 2020 from...

Perreth Products manufactures its products in two separate departments: machining and assembly. Total manufacturing overhead costs for the year are budgeted at $1 million. Of this amount, the...

When comparing companies in the same industry but of different sizes, the current ratio is a better indicator of relative liquidity than net working capital. True False

Any negligence of the part of the plaintiff is a complete bar to recovery in: Group of answer choices a comparative negligence state a contributory negligence state a concurrent negligence state a...

(Appendices) ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS. At the beginning of the year, Kullerud Manufacturing had a credit balance in its allowance for uncollectible accounts of $6,307. During the year...

(Appendices) AVERAGE UNCOLLECTIBLE ACCOUNT LOSSES AND UNCOLLECTIBLE ACCOUNT EXPENSE. The accountant for Porile Company prepared the following data for sales and uncollectible account losses: LO8...

(Appendices) CORRECTING AN ERRONEOUS WRITE-OFF. The new bookkeeper at Karlin Construction Company was asked to write off two accounts totaling $1,710 that had been determined to be uncollectible....