1. The amount bill will add each month of credit card balance is :- (876.66 - 686) = 190.66
2. Finance Charges for the first two months. = 190.66*12%/12+ (190.66*12%/12+1.91*1%)
= 1.91+1.93
= 3.84
WUSUI Rei Finance Charges. Bill wants to purchase a new car for $50,000. Bill has no...
Karou is considering different options for financing the $15,000 balance on her planned new car purchase. The cheapest advertised rate among the local banks is 6.25 percent for 48-month car loan. The current rate on her revolving home equity line is 8.75 percent. Karou is in the 25 percent federal tax bracket and the 5.75 percent state tax bracket. Calculate Karou's monthly car payment using your financial calculator. Compare the payment amount if she uses the 48-month car loan through...
Suppose Bill purchases a car and he is going to finance $14,400 for 24 months at an APR of 6% compounded monthly. Find the monthly payments on the loan. The monthly payment is $_.
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• 1) A new car is purchased and a $20,000 loan is taken. The loan is for 5 years (60 months) and the interest rate is 7.9% compounded monthly. What is the monthly payment? • 2)A new car is purchased and a $20,000 loan is taken. The loan is for 5 years (60 months) and the interest rate is 7.9% compounded monthly. What is the balance after 3 years? . 3) A new car is purchased and a $30,000 loan...
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