# Consumer Mathematics

Question #1 – Simple Interest
Roger borrowed money to finance a new boat. The bank offered Jack ,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.

Don't use plagiarized sources. Get Your Custom Essay on
Consumer Mathematics
Just from \$13/Page

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.

Requirements:

• Your paper should be 2-3 pages in length and cite and integrate at least one credible outside source.
• Include a title page, an introduction, a body, a conclusion, and a reference list.
• The introduction should summarize the problem and state what approach and method will be applied to solve it.
• The body of your paper should answer the questions posed in the problem, explain how you approached and answered the question or solved the problem, and for each question, show all steps involved.
• The conclusion should summarize your findings and what you have determined from the data and your analysis, with a broader or personal perspective in mind when applicable.
• As with all written assignments, provide in-text citations and a reference page.
• Include any tables of data or calculations, calculated values, and/or graphs associated with this problem in the body of your assignment.

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors:
Number of pages
Urgency
Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

# Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

### Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.