Loan amount (PV) = $ 17,500
Rate = 6% pa = 6%/12 per month
Number of months, nper = 24
Amount of monthly payments(PMT) = = $ 775.61
Loan Balance after 18th month = $ 4573.30
Formulae
Ho by yeaurs to buy Acommercial bank will loan you $17500 tor two a car. The...
A commercial bank will loan you $17,500 for two years to buy a car. The loan must be repaid in 24 equal monthly payments. The annual interest rate on the loan is 6% of the unpaid balance. The amount of the monthly payments is $775.61. What is the loan balance after 18 months? A)8,915.70 B) $4,653.66 C) $4,573.29 D) 4,375.00
A commercial bank will loan you $47,497 for 8 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 10.16 percent of the unpaid balance. What is the amount of the monthly payments?
a commercial bank will loan you 54567 for 4 years to buy a car. the loan must be repaid in equal monthly payments at the end of the month . the annual interest rate on the loan is 5-98% of the unpaid balance. what is the amount of the monthly payments?
A commercial bank will loan you $27,817 for 3 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 13.32 percent of the unpaid balance. What is the amount of the monthly payments? Round the answer to two decimal places.
A commercial bank will loan you $33,732 for 4 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 7.29 percent of the unpaid balance. What is the amount of the monthly payments? Round the answer to two decimal places.
A commercial bank will loan you $40,283 for 6 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 4.81 percent of the unpaid balance. What is the amount of the monthly payments? Round the answer to two decimal places.
A commercial bank will loan you $50,753 for 3 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 6.46 percent of the unpaid balance. What is the amount of the monthly payments? Round the answer to two decimal places.
Adelai Inc. loans you $32,000 for five years to buy a car. The loan must be repaid in 60 equal monthly payments. The annual interest rate on the loan is 8gercent. What is your monthly payment? Round to two decimal places. 7. 8. Your company has received a $50,000 loan from an industrial finance company. The annual payments are $6,202.70. If the company is paying 9 percent interest per year, how many loan payments must the company make? Round to...
Q4: You want to buy a car, and a bank will lend you $30,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 5%, with interest paid monthly. What is the monthly loan payment? What is the loan's EFF%?
Q4: You want to buy a car, and a bank will lend you $30,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 5%, with interest paid monthly. What is the monthly loan payment? What is the loan's EFF%?