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bought a used car for $4,000.00 at a nominal...
5. You bought a used car for $4,000.00 at a nominal interest rate of 6%. You...
5. You bought a used car for $4,000.00 at a nominal interest rate of 6%. You agreed to pay for the car in 12 equal monthly payments, beginning with the first payment at the time of the purchase of the car. a) What is the monthly payment? b) Immediately after making the fifth payment, you made an arrangement with the company to pay back the rest of the loan with one single payment at the time when the sixth payment...
Can you solve this for me please? 5. You bou ght a used car for $4,000.00...
Can you solve this for me please?
5. You bou ght a used car for $4,000.00 at a nominal interest rate of 6%. You agreed to pay for the car in 12 equal monthly payments, beginning with the first payment at the time of the purchase of the car. a) What is the monthly payment? b) Immediately after making the fifth payment, you made an arrangement with the company to pay back the rest of the loan with one single...
Solve the cash flow equivalence below for the unknown value of Q assuming an 7% annual...
Solve the cash flow equivalence below for the unknown value of Q assuming an 7% annual interest rate. 1. 800 4i Q 70 o0 i23 2 2, You borrowed $6,000.00 for 5 years at 7% annual interest rate. The banker said that to repay the total loan amount you have to pay $1,463 at the end of each year. a) Draw a time line depicting this cash low b) Build a table to determine how much of the annual payment...
Can you solve this problem for me please? 4 3. You borrowed $4,000.00 at 1% per...
Can you solve this problem for me please?
4 3. You borrowed $4,000.00 at 1% per month and agreed to repay in equal monthly payments over the next 3 years. What is your monthly payment?
An engineering student bought a car at a local used car lot. Including tax and insurance,...
An engineering student bought a car at a local used car lot. Including tax and insurance, the total price was $15,000. He is to pay for the car in 13 equal monthly payments, beginning with the first pay- ment immediately (the first payment is the down payment). Nominal interest on the loan is 12%, com- 4-38 monthly. After six payments he decides to sell the car. A buyer agrees to pay off the loan in full and to pay the...
On January 1, LaQuita bought an used car for $7,200 and agreed to pay for it...
On January 1, LaQuita bought an used car for $7,200 and agreed to pay for it as follows: 1/3 down payment, the balance to be paid in 36 equal monthly payments, the first payment due February 1, an annual interest rate of 9% compounded monthly. a. What is the amount of LaQuita's monthly payment b. During the summer LaQuita made enough money to pay off the entire balance due on the car as of October 1 (October 1 payment plus...
13-19 odd please 13. A $10,000 loan is to be amortized for 10 years with quarterly...
13-19 odd please
13. A $10,000 loan is to be amortized for 10 years with quarterly payments of $334.27. If the interest rate is 6% compounded quarterly, what is the unpaid balance immediately after the sixth payment? 14. A debt of $8000 is to be amortized with 8 equal semi- annual payments of $1288.29. If the interest rate is 12% compounded semiannually, find the unpaid balance immediately after the fifth payment. 15. When Maria Acosta bought a car 2 years...
You borrowed $4,000.00 at 1% per month and agreed to repay in equal monthly payments over...
You borrowed $4,000.00 at 1% per month and agreed to repay in equal monthly payments over the next 3 years. What is your monthly payment? 3. You borrowed $10,000.00 which is to be repaid in equal quarterly payments of $1,336.00 over the next 2 years 4. a) Determine the interest rate per interest period based on quarterly compounding. b) What are the nominal and effective interest rates?
You consider buying a car for a price of $34,000. The car is to be bought on credit with an annual interest rate of 4.2...
You consider buying a car for a price of $34,000. The car is to be bought on credit with an annual interest rate of 4.25%. The credit will be repaid in monthly constant total payments spread over 60 months. The dealer makes a "special" offer to you: a one-year grace period, which means that the first payment will be made only one year after the car is bought (however this period is subject to interest!!!). 1. What is the nominal...
Please read the questions carefully. Please draw the cash flow diagrams and explain the steps that...
Please read the questions carefully. Please draw the cash flow diagrams and explain the steps that you are going to approach to solve the problems then solve the problem. Show the details in solving the problems. Please write legible hand writing, otherwise there is a deduction from your grade 10 points Missing Cash Flow Diagram is deductible points equal to 10% of the total points for each question. Question - 1 A series of equal semiannual cash flows starts with...
5. You bought a used car for $4,000.00 at a nominal interest rate of 6%. You agreed to pay for the car in 12 equal monthly payments, beginning with the first payment at the time of the purchase of the car. a) What is the monthly payment? b) Immediately after making the fifth payment, you made an arrangement with the company to pay back the rest of the loan with one single payment at the time when the sixth payment...
Can you solve this for me please?
5. You bou ght a used car for $4,000.00 at a nominal interest rate of 6%. You agreed to pay for the car in 12 equal monthly payments, beginning with the first payment at the time of the purchase of the car. a) What is the monthly payment? b) Immediately after making the fifth payment, you made an arrangement with the company to pay back the rest of the loan with one single...
Solve the cash flow equivalence below for the unknown value of Q assuming an 7% annual interest rate. 1. 800 4i Q 70 o0 i23 2 2, You borrowed $6,000.00 for 5 years at 7% annual interest rate. The banker said that to repay the total loan amount you have to pay $1,463 at the end of each year. a) Draw a time line depicting this cash low b) Build a table to determine how much of the annual payment...
Can you solve this problem for me please?
4 3. You borrowed $4,000.00 at 1% per month and agreed to repay in equal monthly payments over the next 3 years. What is your monthly payment?
An engineering student bought a car at a local used car lot. Including tax and insurance, the total price was $15,000. He is to pay for the car in 13 equal monthly payments, beginning with the first pay- ment immediately (the first payment is the down payment). Nominal interest on the loan is 12%, com- 4-38 monthly. After six payments he decides to sell the car. A buyer agrees to pay off the loan in full and to pay the...
On January 1, LaQuita bought an used car for $7,200 and agreed to pay for it as follows: 1/3 down payment, the balance to be paid in 36 equal monthly payments, the first payment due February 1, an annual interest rate of 9% compounded monthly. a. What is the amount of LaQuita's monthly payment b. During the summer LaQuita made enough money to pay off the entire balance due on the car as of October 1 (October 1 payment plus...
13-19 odd please
13. A $10,000 loan is to be amortized for 10 years with quarterly payments of $334.27. If the interest rate is 6% compounded quarterly, what is the unpaid balance immediately after the sixth payment? 14. A debt of $8000 is to be amortized with 8 equal semi- annual payments of $1288.29. If the interest rate is 12% compounded semiannually, find the unpaid balance immediately after the fifth payment. 15. When Maria Acosta bought a car 2 years...
You borrowed $4,000.00 at 1% per month and agreed to repay in equal monthly payments over the next 3 years. What is your monthly payment? 3. You borrowed $10,000.00 which is to be repaid in equal quarterly payments of $1,336.00 over the next 2 years 4. a) Determine the interest rate per interest period based on quarterly compounding. b) What are the nominal and effective interest rates?
You consider buying a car for a price of $34,000. The car is to be bought on credit with an annual interest rate of 4.25%. The credit will be repaid in monthly constant total payments spread over 60 months. The dealer makes a "special" offer to you: a one-year grace period, which means that the first payment will be made only one year after the car is bought (however this period is subject to interest!!!). 1. What is the nominal...
Please read the questions carefully. Please draw the cash flow diagrams and explain the steps that you are going to approach to solve the problems then solve the problem. Show the details in solving the problems. Please write legible hand writing, otherwise there is a deduction from your grade 10 points Missing Cash Flow Diagram is deductible points equal to 10% of the total points for each question. Question - 1 A series of equal semiannual cash flows starts with...
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