Consumer Mathematics

Question #1 – Unblended Interest
Roger adventitious specie to finance a new boat. The bank offered Jack $28,000 of the $35,000.  To reach up the contrariety, Jack sure a feeble indivisible, unblended profit hypothecation. Jack’s hypothecation was structured as an installment hypothecation that required him to pay $297.50/month for 30 months. Calculate the aggregateity financed, aggregate installment figure, the finance entrust, and the profit blame.

Question #2 – Annuity Payment
James is wary specie to known a retreat treasury. He needs $15,000 in two years to reach his down liquidation and is investing in an annuity supple an annual profit blame of 7% compounded monthly. If the annuity requires that James reach monthly investments, what annuity liquidation must James reach to rescue $15,000?

Question #3 – Hypothecation Financing
Peter and Rachael purchased a settlement costing $269,000. A hypothecation society financed the settlement at a 5.5% blame and 30-year message, requiring that they reach a 15% down liquidation. Calculate the down liquidation and monthly hypothecation liquidation that Peter and Rachael must pay.


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