Loans plss hel 1. Sam wants to purchase new computers for his office that costs $23,500.He also wants to purchase printers for $5,600. The bank grants him a single-payment loan of $27,000 for 182 days at 7.75% exact interest. What is the total cost of his purchases? How much interest will he owe? What is the maturity value of his loan?

2. Find the maturity value of the loan in problem #1 if the interest is figured using ordinary instead of exact.
3. Aaron purchased new cabinets for $7,650.99, countertop for $1010.00, new flooring for $3765.95, and new carpet for $979.45. The supply store’s credit plan requires a down payment of 15%. What is the total cost of the purchases? What is the down payment? What is the amount financed?

4. Zach purchased a new compressor and paid a $95 down payment and financed the rest. The cash price of the compressor was $495.50. What is the amount financed and the percent of the down payment?

5. The bank grants Carol a loan for $15,000 with an APR of 12%. She agrees to a down payment of 20% and will repay the loan over 36 months. What is the monthly payment? What is the total amount to be repaid? What is the finance charge?

6. Barbara wants to remodel a room in her home. The estimated cost for the job is $7,820. She pays 25% of the cost upfront and finances the rest at 15% for 24 months. What is the down payment, amount financed, monthly payment, and the finance charge?

7. Sara signed a $2,500 note with an interest rate of 11%. The monthly payments are $220.75 for 12 months. Find the balance of the loan after 3 months.

8. Kent takes out a short-term loan of $1900 at 12% for 6 months. The monthly payment is $311.60. The balance of the loan after 4 months is $613.77. He pays off the loan when the next payment is due. How much is saved by paying the loan off early?

9. Ben obtained an installment loan for $2000.00 to finance his new invention. The bank requires a down payment of 20% and 18 monthly payments of $97.18 each. Determine the APR of the loan.