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A small business borrows $62,000 tor expansion at 10% compounded monthly. The loan is due in...
A small business borrows $42,000 for expansion at 8% compounded monthly The loan is due in...
A small business borrows $42,000 for expansion at 8% compounded monthly The loan is due in 6 years How much interest will the business pay? The business will pay Sin interest Round to the nearest cent)
A student borrows $56,400 at 8.4% compounded monthly. Find the monthly payment and total interest paid...
A student borrows $56,400 at 8.4% compounded monthly. Find the monthly payment and total interest paid over a 30 year payment plan. The payment size is $ (Round to the nearest cent.) Find the size of each of 4 payments made at the end of each year into a 9% rate sinking fund which produces $56000 at the end of 4 years. The payment size is $ (Round to the nearest cent.) Find the amount of each payment to be...
Joe borrows $14 000 to buy a motorcycle at 14.4%/a compounded monthly for 9/2 years. After...
Joe borrows $14 000 to buy a motorcycle at 14.4%/a compounded monthly for 9/2 years. After 2 years, Joe gets a year-end bonus and makes a one-time payment of $5000 against the outstanding balance of the loan. How much earlier can he pay off the loan because of this payment?
You must show work to receive credit. Cirele or otherwise clearly identify your final answers 1. [1pt] In order to start a small business, Jared takes out a simple interest personal loan for $4,0...
You must show work to receive credit. Cirele or otherwise clearly identify your final answers 1. [1pt] In order to start a small business, Jared takes out a simple interest personal loan for $4,000 in March 2019. He doesn't need to make regular payments, but the loan is due in full, plus interest, in December 2019, The bank charges an 8.25% interest rate. How much must Jared pay back when the loan is due? [Round to the nearest cent.) 2....
A recent college graduate buys a new car by borrowing $20,000 at 7.2%, compounded monthly, for...
A recent college graduate buys a new car by borrowing $20,000 at 7.2%, compounded monthly, for 4 years. She decides to pay $501 instead of the monthly payment required by the loan. (a) What is the monthly payment required by the loan? (Round your answer to the nearest cent.) How much extra did she pay per month? (Round your answer to the nearest cent.) (b) How many $501 payments will she make to pay off the loan? (Round your answer...
You have just taken out a $26,000 car loan with a 5% APR, compounded monthly. The...
You have just taken out a $26,000 car loan with a 5% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any intermediate steps less than six decimal places) When you make your first payment will go toward the principal of the loan and will...
You have just taken out a $18,000 car loan with a 5% APR, compounded monthly. The...
You have just taken out a $18,000 car loan with a 5% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any intermediate steps less than six decimal places.) When you make your first payment will go toward the principal of the loan and will...
You have just taken out a $22,000 car loan with a 8% APR, compounded monthly. The...
You have just taken out a $22,000 car loan with a 8% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any intermediate steps less than six decimal places.) When you make your first payment, $ will go toward the principal of the loan and...
You have just taken out a $16,000 car loan with a 6% APR, compounded monthly. The...
You have just taken out a $16,000 car loan with a 6% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any intermediate steps less than six decimal places) When you make your first payment, will go toward the principal of the loan and $...
You have just taken out a $28,000 car loan with a 7 % APR, compounded monthly....
You have just taken out a $28,000 car loan with a 7 % APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any intermediate steps less than six decimal places.) When you make your first payment,_________will go toward the principal of the loan and ____will...
A small business borrows $42,000 for expansion at 8% compounded monthly The loan is due in 6 years How much interest will the business pay? The business will pay Sin interest Round to the nearest cent)
A student borrows $56,400 at 8.4% compounded monthly. Find the monthly payment and total interest paid over a 30 year payment plan. The payment size is $ (Round to the nearest cent.) Find the size of each of 4 payments made at the end of each year into a 9% rate sinking fund which produces $56000 at the end of 4 years. The payment size is $ (Round to the nearest cent.) Find the amount of each payment to be...
You must show work to receive credit. Cirele or otherwise clearly identify your final answers 1. [1pt] In order to start a small business, Jared takes out a simple interest personal loan for $4,000 in March 2019. He doesn't need to make regular payments, but the loan is due in full, plus interest, in December 2019, The bank charges an 8.25% interest rate. How much must Jared pay back when the loan is due? [Round to the nearest cent.) 2....
You have just taken out a $26,000 car loan with a 5% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any intermediate steps less than six decimal places) When you make your first payment will go toward the principal of the loan and will...
You have just taken out a $18,000 car loan with a 5% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any intermediate steps less than six decimal places.) When you make your first payment will go toward the principal of the loan and will...
You have just taken out a $22,000 car loan with a 8% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any intermediate steps less than six decimal places.) When you make your first payment, $ will go toward the principal of the loan and...
You have just taken out a $16,000 car loan with a 6% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any intermediate steps less than six decimal places) When you make your first payment, will go toward the principal of the loan and $...
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