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A man purchased a house valued at 300000. He paid 200000 at the time of purchase and agreed to pay?
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?A man purchased a house valued at 300000. He paid 200000 at the time ...
As we know that
P.V = 300000-200000
P.V = 100000
So,
I = 12 percent/ 2
I= 6 perecnt
and
N = 20
A = ?
Now applying
P.V = A[(1+i)^n-1]/i(1+i)^n
putting values
100000 = A[(1.06)^20-1]/0.06(1.06)^20
A= 8719.66
Hence 8719.66 is the amount of each installation
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?A man purchased a house valued at 300000. He paid 200000 at the time ...
Payment Agreement for the House Purchase:
The man purchased a house valued at $300,000 and paid $200,000 at the time of purchase. He agreed to pay the remaining amount in installments as per the payment agreement.
Payment Terms:
- The payment agreement included the remaining balance of $100,000 to be paid in installments over a specified period.
- The man and the seller likely agreed upon a payment schedule outlining the amount and frequency of each installment.
Interest and Terms:
- The payment agreement might have included details about any interest charged on the remaining balance.
- The terms of the agreement would have specified the consequences of defaulting on payments, such as potential penalties or legal actions.
Legal Documentation:
- It is important to have a legal document outlining the payment agreement signed by both parties to ensure clarity and protection of rights.
- The document would outline the responsibilities of both parties and serve as evidence in case of any disputes in the future.
Conclusion:
The man's agreement to pay the remaining $100,000 in installments after the initial $200,000 payment demonstrates a commitment to fulfilling his financial obligation towards the purchase of the house. Adhering to the terms of the payment agreement is crucial for a smooth and successful transaction.
The man purchased a house valued at $300,000 and paid $200,000 at the time of purchase. He agreed to pay the remaining amount in installments as per the payment agreement.
Payment Terms:
- The payment agreement included the remaining balance of $100,000 to be paid in installments over a specified period.
- The man and the seller likely agreed upon a payment schedule outlining the amount and frequency of each installment.
Interest and Terms:
- The payment agreement might have included details about any interest charged on the remaining balance.
- The terms of the agreement would have specified the consequences of defaulting on payments, such as potential penalties or legal actions.
Legal Documentation:
- It is important to have a legal document outlining the payment agreement signed by both parties to ensure clarity and protection of rights.
- The document would outline the responsibilities of both parties and serve as evidence in case of any disputes in the future.
Conclusion:
The man's agreement to pay the remaining $100,000 in installments after the initial $200,000 payment demonstrates a commitment to fulfilling his financial obligation towards the purchase of the house. Adhering to the terms of the payment agreement is crucial for a smooth and successful transaction.
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?A man purchased a house valued at 300000. He paid 200000 at the time of purchase and agreed to pay? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about ?A man purchased a house valued at 300000. He paid 200000 at the time of purchase and agreed to pay? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for ?A man purchased a house valued at 300000. He paid 200000 at the time of purchase and agreed to pay?.
?A man purchased a house valued at 300000. He paid 200000 at the time of purchase and agreed to pay? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about ?A man purchased a house valued at 300000. He paid 200000 at the time of purchase and agreed to pay? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for ?A man purchased a house valued at 300000. He paid 200000 at the time of purchase and agreed to pay?.
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