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Check My Work remaining You purchase a computer system costing 51.950 by taking out an 11%...
Check My Work (3 remaining) Amishi wishes to take out an installment loan to finance the...
Check My Work (3 remaining) Amishi wishes to take out an installment loan to finance the purchase of a jet ski costing $100. Her loan requires a 15% down payment and equal monthly payments of $130.05 for 48 months. What is the amount of the finance charge on this loan?
Lab 1: Check out my wheels! You want to purchase a car and need a loan...
Lab 1: Check out my wheels! You want to purchase a car and need a loan of $15,000. Check the current interest rates online for 2 year car loans and 5 year car loans. Paste a link to the website that lists the interest rate. Create amortization tables for both loans. (For the 5 year loan, you will need to extend the table from the example.) What are the total payments for each loan? (You can sum the payments or...
annual payment You are taking a loan out on a car. The purchase price of the...
annual payment
You are taking a loan out on a car. The purchase price of the car is $12,183 and the financing company is offering an APR of 11.12%. If you make a $2,000 down payment on the vehicle and finance the balance over 5 years, your annual Round your answer to two decimal places. payments would be $
Please show all work and explain 6) You just took out $200,000 mortgage. You must make...
Please show all work and explain
6) You just took out $200,000 mortgage. You must make equal monthly payments over 30 years, and your interest rate is 6% APR. what is your monthly payment? How much of the first month's payment is paying interest and how much is paying down the principle balance remaining on the loan. 1) Your monthly payment is $1,245.08. $1,000 of your first month's payment goes toward interest, and $245.08 goes toward paying down the principle...
Miguel purchased a hot tub costing $5,010 by taking out an installment loan. He made a...
Miguel purchased a hot tub costing $5,010 by taking out an installment loan. He made a down payment of $1,300 and financed the balance for 24 months. If the payments are $171.77 each month, use the APR formula to find the APR. Round to the nearest hundredth of a percent.
You are buying a house that costs $440000 and plan on taking out a 30-year fixed...
You are buying a house that costs $440000 and plan on taking out a 30-year fixed rate mortgage at an annual interest rate of 2.4%. 1)You make a 15% down payment of 66000, and take out a loan for the remaining $374000. How much would your mortgage payments be? (Ignore taxes, fees, and other charges, and round to the nearest penny.) . 2)You make this mortgage payment at the end of the first month. Your mortgage payment at the end of...
To purchase a car, Sarah took out a 60-month loan for $34.700 with a 7.7% annual...
To purchase a car, Sarah took out a 60-month loan for $34.700 with a 7.7% annual interest rate. After making 41 payments, Sarah received a bonus from work and plans to use it to pay off the remaining balance Calculate Sarah's monthly payment and the amount needed to pay off her loan Sarah's monthly payment is (Round to the nearest cent.) The amount needed to pay off this loan with (Round to the nearest cent.) payments remaining is Enter your...
Please show work! You have decided to acquire a new car that costs $30,000. You are...
Please show work! You have decided to acquire a new car that costs $30,000. You are considering whether to lease it for three years or to purchase it and financing the purchase with a three-year installment loan. The lease requires no down payment and lasts for three years. Lease payments are $400 monthly starting immediately, whereas the installment loan will require monthly payments starting a month from now at an annual percentage rate (APR) of 8%. The discount rate (APR)...
Suppose that you bought a house worth $400,000 by putting a down payment of $50.000 and by taking...
Suppose that you bought a house worth $400,000 by putting a down payment of $50.000 and by taking out a loan for the rest at an interest rate of 42% compounded montly, payable with monthly payments for 30 years. Assume the payments are due at the end of each month. a. Find your monthly payments b. Suppose that 10 years later the house was worth $460,000. How much do you still owe on the house at that point. c. And...
3. Lady Gaga has decided to purchase a condominium along the Southern California coast. After put...
3. Lady Gaga has decided to purchase a condominium along the Southern California coast. After putting down a sizeable down payment she finances the remaining $800,000 at a 5% annual nominal rate compounded monthly with monthly payments based on a 15-year loan and a balloon payment after six years. a. Compute the monthly payment for the loan. b. Compute the amount of the balloon payment to be paid at the end of six years. balloon payment at the end of...
Check My Work (3 remaining) Amishi wishes to take out an installment loan to finance the purchase of a jet ski costing $100. Her loan requires a 15% down payment and equal monthly payments of $130.05 for 48 months. What is the amount of the finance charge on this loan?
Lab 1: Check out my wheels! You want to purchase a car and need a loan of $15,000. Check the current interest rates online for 2 year car loans and 5 year car loans. Paste a link to the website that lists the interest rate. Create amortization tables for both loans. (For the 5 year loan, you will need to extend the table from the example.) What are the total payments for each loan? (You can sum the payments or...
annual payment
You are taking a loan out on a car. The purchase price of the car is $12,183 and the financing company is offering an APR of 11.12%. If you make a $2,000 down payment on the vehicle and finance the balance over 5 years, your annual Round your answer to two decimal places. payments would be $
Please show all work and explain
6) You just took out $200,000 mortgage. You must make equal monthly payments over 30 years, and your interest rate is 6% APR. what is your monthly payment? How much of the first month's payment is paying interest and how much is paying down the principle balance remaining on the loan. 1) Your monthly payment is $1,245.08. $1,000 of your first month's payment goes toward interest, and $245.08 goes toward paying down the principle...
To purchase a car, Sarah took out a 60-month loan for $34.700 with a 7.7% annual interest rate. After making 41 payments, Sarah received a bonus from work and plans to use it to pay off the remaining balance Calculate Sarah's monthly payment and the amount needed to pay off her loan Sarah's monthly payment is (Round to the nearest cent.) The amount needed to pay off this loan with (Round to the nearest cent.) payments remaining is Enter your...
Suppose that you bought a house worth $400,000 by putting a down payment of $50.000 and by taking out a loan for the rest at an interest rate of 42% compounded montly, payable with monthly payments for 30 years. Assume the payments are due at the end of each month. a. Find your monthly payments b. Suppose that 10 years later the house was worth $460,000. How much do you still owe on the house at that point. c. And...
3. Lady Gaga has decided to purchase a condominium along the Southern California coast. After putting down a sizeable down payment she finances the remaining $800,000 at a 5% annual nominal rate compounded monthly with monthly payments based on a 15-year loan and a balloon payment after six years. a. Compute the monthly payment for the loan. b. Compute the amount of the balloon payment to be paid at the end of six years. balloon payment at the end of...
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