A woman paid $90,000 down for a house and agreed to pay 18 quarterly payments of $4500

Question:

A woman paid $90,000 down for a house and agreed to pay 18 quarterly payments of $4500 each. If money is worth 4%, compounded quarterly, how much would the house have cost if she had paid cash?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

See More Books

Question Posted: Feb 09, 2018 05:47 AM

See More Questions

In order to upgrade its equipment, Simon Reilly Chemicals (SRC) borrowed $2.8 million at 6.4% compounded quarterly for 20 years. After making 18 quarterly payments of $62,297.39, SRC plans to...
A woman who has moved into a new house is trying to determine which of two routes to work has the shorter average driving time. Times in minutes for six tripson route A and five trips on route B are...
A woman claims that she is a fortune-teller. Specifically, she claims that she can predict the direction of the change (up or down) in the Dow Jones Industrial Average for the next 10 days (such as...
The following data represent the square footage and rents (dollars per month) for apartments in the La Jolla area of San Diego, California. (a) Using a graphing utility, draw a scatter plot of the...
Two loops of wire are moving in the vicinity of a very long straight wire carrying a steady current as shown in Fig 21-43. Find the direction of the induced current in each loop. 2/0-
Road construction contracts in the state of Florida Are awarded on the basis of competitive, sealed bids; the contractor who submits the lowest bid price wins the contract. During the 1980s, the...
___________ report indicates the previous days sales income from various revenue centres
Refer to the accompanying screen display. a. Express the confidence interval in the format that uses the "less than" symbol. Given that the original listed data use one decimal place, round the...
What is the concept of present value?
In the Skycoaster amusement park ride, riders are suspended from a tower by a long cable. A second cable then lifts them until they reach the starting position indicated in (Figure 1). The lifting...
1. A debt of $1000 with interest at 12%, compounded monthly, is amortized by 12 monthly payments (of equal size). What is the size of each payment? 2. A debt of $8000 is amortized with eight...
Complete the amortization schedule for the next two payments of a loan for 30 years at 7.5%, compounded monthly, with monthly payments of $699.22. Payment Number...........56 Payment Amount...
Wildcat Corporation recently disclosed the following financial information: Earnings / revenue $1,500,000 Assets .. $7,000,000 Liabilities . $1,500,000 Shares outstanding ..500,000 Market price ...
2. If w = x + y z + sint and x + y = t, find Iw dw Iw a. b. c. av z x, z aw Iw aw d. e. f. az at at y, t x, Z y, z
Global Training Solutions (GTS) was founded 40 years ago by an educator/consultant/trainer to provide training to business employees, consulting services to businesses and school systems, and...
Consider the following open-loop transfer function: K(s+2a) G(s)H(s)= where K,a>0 s(s-a) The frequency when the phase is -180 degrees is: rad/s The magnitude of the open loop transfer function when...
Complete Exhibit 5 (this should be cost per cup and in CA$, do not convert). The exhibit is missing a line for Milk & Sugar within factory overhead section EXHIBIT 5: COSTING CHART Direct Cost Coffee...
Why is the tension negative in the net force x-component? The tension points right, so shouldn't it be positive? I saw elsewhere that the equation has negative T. Why? Chrome File Edit View History...
Each of the sketch graphs below is of the form y = Ae bx + C, where A, b and C are constants. Find the values of A and C for each graph, and state whether b is positive or negative. a y X b ya 0 8 2 X
What is taxable income, and what is the formula for determining taxable income?
Plants outside the plot have mean weight 10.0. Consider again the weights, heights, yields, and seed number for 10 plants given in Exercises 1-4. Find the sample variance for each and use the t...
Plants outside the plot have mean height 38.0. Consider again the weights, heights, yields, and seed number for 10 plants given in Exercises 1-4. Find the sample variance for each and use the t...
Plants outside the plot have mean yield 9.0. Consider again the weights, heights, yields, and seed number for 10 plants given in Exercises 1-4. Find the sample variance for each and use the t...
3. The nominal interest rate compounded monthly when your $7,000 becomes $11,700 in eight years is ________
An investor can design a risky portfolio based on two stocks, A and B. Stock A has an expected return of 21% and a standard deviation of return of 39%. Stock B has an expected return of 14% and a...
Advanced Small Business Certifica Drag and Drop the highlighted items into the correct boxes depending on whether they increase or decrease Alex's stock basis. Note your answers- you'll need them for...

A woman paid $90,000 down for a house and agreed to pay 18 quarterly payments of $4500

Question:

Step by Step Answer:

R 4500 n 18 i 004 4 001 569668...View the full answer

Mathematical Applications for the Management Life and Social Sciences

Students also viewed these Calculus questions