what would be your monthly car note if you bought a car for $24250, you paid...
what would be your monthly car note if you bought a car for $24250, you paid off the loan in 5 years and interest on the loan was 4.25%?
use BA II Plus calculator!!
Homework Answers
PV = -24250
N = 5*12 = 60
I/Y = 4.25%/12 = 0.3542 %
Find PMT
This is 449.34
Hence the monthly payment is $449.34
Add Answer to:
what would be your monthly car note if you bought a car for
$24250, you paid...
You have just bought a new flat-screen TV for $3,000, and the store you bought it...
You have just bought a new flat-screen TV for $3,000, and the store you bought it from offers to let you finance the entire purchase at an annual rate of 14 percent compounded monthly. If you take the financing and make monthly payment of $100, how long will it take to pay the loan off? How much will you pay in interest over the life of the loan? How would you calculate this using a BA II plus calculator?
On 1/1/21, you purchase a used car for $5,000 with a 12% loan (note) payable monthly....
On 1/1/21, you purchase a used car for $5,000 with a 12% loan (note) payable monthly. Payments of principal and interest are made at the end of each month for the next three years. Required a. Compute the amount of your monthly payment. b. Create an effective interest amortization table in Excel for the entire life of the car loan payable using the following columns: payment number, payment date, beginning carrying value, effective interest rate, interest expense, cash paid (principal...
6) Assume you just bought a new car and now have a car loan to repay....
6) Assume you just bought a new car and now have a car loan to repay. The amount of the principal is $22,000, the loan is at 5.9% APR, and the monthly payments are spread out over 6 years. What is the loan payment? Use a calculator to determine your answer. A) $305.56 B) $363.57 C) $331.14 D) $297.70
I want you to calculate what a monthly P&I payment would be if you go with...
I want you to calculate what a monthly P&I payment would be if you go with a 15-year mortgage. Use an interest rate of 5.125% on borrowing $165,000. Also, calculate the total amount of interest that you would have paid over the life of the loan (15-years.) Please make sure that you provide me with your TI BA Analyst II solution steps (key strokes).
Congratulations! You just bought a new car. The car costs $28,000 and the car dealer allows...
Congratulations! You just bought a new car. The car costs $28,000 and the car dealer allows you to finance it with a six year loan at an interest rate of 8% per year. You will be required to make fixed monthly car payments for 72 months (covering interest and amortization) until the loan is paid in full. What will be your monthly car payment?
what interest was earned on an account that began with $42000 and paid $1000 per month...
what interest was earned on an account that began with $42000 and paid $1000 per month for 6 years? Note: PMT & I\Y must be the same frequency= if PMT monthly then I\Y is monthly. to get annual rate =(X12) Use BA II Plus calculator!!
Congratulations! You just bought a new car. The car costs $28,000 and the car dealer allows...
Congratulations! You just bought a new car. The car costs $28,000 and the car dealer allows you to finance it with a six year loan at an interest rate of 8% per year. You will be required to make fixed monthly car payments for 72 months (covering interest and amortization) until the loan is paid in full. What will be your monthly car payment? I got $490.93. I just want to make sure I am correct
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...
Amoritization (a) Calculate the monthly payment for a car loan of $23,600.00 at an annual interest rate of 7.75% to be paid off in 5 years. (b) Calculate the monthly payment for a mortgage of $273,486...
Amoritization (a) Calculate the monthly payment for a car loan of $23,600.00 at an annual interest rate of 7.75% to be paid off in 5 years. (b) Calculate the monthly payment for a mortgage of $273,486.00 at an annual interest rate of 3.49% to be paid off in 15 years. (c) Calculate the monthly payment for a personal loan of $39,232.00 at an annual interest rate of 12.99% to be paid off in 3 years
8. You purchased a new car for sis,000. The dealer offers you an interest rate of 5% over years. ...
8. You purchased a new car for sis,000. The dealer offers you an interest rate of 5% over years. a) What would your monthly payment be? b) Suppose you would like to save interest by paying the loan off in 3 years. How much more a ma would you need to pay? c) What would the effective interest rate be if you paid off the car in 3 years? 9. Sketch the annual cash flow diagrams for each case in...
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...
8. You purchased a new car for sis,000. The dealer offers you an interest rate of 5% over years. a) What would your monthly payment be? b) Suppose you would like to save interest by paying the loan off in 3 years. How much more a ma would you need to pay? c) What would the effective interest rate be if you paid off the car in 3 years? 9. Sketch the annual cash flow diagrams for each case in...
Most questions answered within 3 hours.
-
Use the de Broglie relationship (l = h/mu where u is speed) to
determine the wavelengths...
asked 5 minutes ago -
An elliptical hair that is 80µ by 120µ in minor and
major diameters that is 10...
asked 6 minutes ago -
I need the SWOT analysis the Tenets of Warren Buffet for the
company "Goldman Sachs".
asked 6 minutes ago -
What is the state of relations between the Soviet Union and the
West between 1965 and...
asked 12 minutes ago -
regarding business managment-
1. define social identity theory / clearly state the
theory.
2. briefly mention...
asked 15 minutes ago -
Develop the pseudocode and the flowchart for a program that
finds the sum of 5 numbers.
asked 20 minutes ago -
Hi, I hope I can get some help with the following exercise in
C++( CPP):
1.Write...
asked 20 minutes ago -
Mul-Choice Psy
1. Kevin is a good student. He studies hard because when he does
he...
asked 35 minutes ago -
Medwig Corporation has a DSO of 33 days. The company averages
$4,250 in sales each day...
asked 40 minutes ago -
Write a program that will turn a light on when a count reaches
20. The light...
asked 43 minutes ago -
what is the formula, molecular weight , melting point and
one-word hazard for p-dichlorobenzene?
asked 52 minutes ago -
To move a refrigerator of mass 140 kg into a house, a mover puts
it on...
asked 48 minutes ago