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Marie wants to purchase a car and finance her purchase with a 4 year loan at...
Marie purchased a car and financed her purchase with a loan at 7% interest. Her payments...
Marie purchased a car and financed her purchase with a loan at 7% interest. Her payments are $250 per month. If she has 4 years left on her loan, what is her remaining balance? blete ut of Answer: Check
Question 3 Marie purchased a car and took out a loan for the $14.663.61 purchase, at...
Question 3 Marie purchased a car and took out a loan for the $14.663.61 purchase, at 7% interest for 6 years. If she has 4 years left on her loan, what is her remaining balance? incorrect Score 0.00 out of 100 Anwer: Check
Marie purchased a car and took out a loan for the $14,663.61 purchase, at 7% interest...
Marie purchased a car and took out a loan for the $14,663.61 purchase, at 7% interest for 6 years. If she has 4 years left on her loan, what is her remaining balance?
WUSUI Rei Finance Charges. Bill wants to purchase a new car for $50,000. Bill has no...
WUSUI Rei Finance Charges. Bill wants to purchase a new car for $50,000. Bill has no savings, so he needs to finance the entire purchase amount. With no down payment, the interest rate on the loan is 8% and the maturity of the loan is six years. His monthly payments will be $876.66. Bill's monthly net cash flows are $686. Bill also has a credit card with a $9,365 limit and an interest rate of 12%. If Bill uses all...
4 Loan Interest. Devika is considering the purchase of a car. After making the down payment,...
4 Loan Interest. Devika is considering the purchase of a car. After making the down payment, she will finance $15,500. Devika is offered two maturities. On a four-year loan, Devika will pay $371 per month. On a five-year loan, Devika's monthly payments will be $307. If Devika had been able to afford the four-year loan, how much interest in total would she have saved compared to the five-year loan? Work:
Karou is considering different options for financing the $15,000 balance on her planned new car purchase....
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...
To finance a new car purchase, M took out a $20,000, 3-year loan with the bank...
To finance a new car purchase, M took out a $20,000, 3-year loan with the bank at 12% per year, no compounding. All payments are due at maturity. How much will M have to pay the bank at the end of the loan term? (Do not use $ signs, and round to the nearest whole dollar in your answer format)
Loan Interest. Sharon is considering the purchase of a car. After making the down payment, she...
Loan Interest. Sharon is considering the purchase of a car. After making the down payment, she will finance $21.530. Sharon is offered three maturities on four-year loan, Sharon will pay $515.56 per month. On a five-year loan, Sharon's monthly payments will be $426.32. On a six-year loan, they will be $367 0 Sharon rejects the four-year loan, as it is not within her budget. So, Sharon would pay $4,049.20 in interest over the life of the five-year loan. On the...
Mark has borrowed $22213 to finance the purchase a second hand car. The loan is to...
Mark has borrowed $22213 to finance the purchase a second hand car. The loan is to be repaid over five years with monthly payments. Interest on the loan is charged monthly at 9.2% p.a. How much will each payment be, if Mark makes the first payment right away, on the day the car is delivered? (Give your answer to the nearest cent, omitting the dollar sign.) Answer:
Lupe made a down payment of $2500 toward the purchase of a new car. To pay...
Lupe made a down payment of $2500 toward the purchase of a new car. To pay the balance of the purchase price, she has secured a loan from her bank at the rate of 12%/year compounded monthly. Under the terms of her finance agreement she is required to make payments of $200/month for 36 months. What was the cash price of the car? (Round your answer to the nearest cent.) $
Marie purchased a car and financed her purchase with a loan at 7% interest. Her payments are $250 per month. If she has 4 years left on her loan, what is her remaining balance? blete ut of Answer: Check
Question 3 Marie purchased a car and took out a loan for the $14.663.61 purchase, at 7% interest for 6 years. If she has 4 years left on her loan, what is her remaining balance? incorrect Score 0.00 out of 100 Anwer: Check
WUSUI Rei Finance Charges. Bill wants to purchase a new car for $50,000. Bill has no savings, so he needs to finance the entire purchase amount. With no down payment, the interest rate on the loan is 8% and the maturity of the loan is six years. His monthly payments will be $876.66. Bill's monthly net cash flows are $686. Bill also has a credit card with a $9,365 limit and an interest rate of 12%. If Bill uses all...
4 Loan Interest. Devika is considering the purchase of a car. After making the down payment, she will finance $15,500. Devika is offered two maturities. On a four-year loan, Devika will pay $371 per month. On a five-year loan, Devika's monthly payments will be $307. If Devika had been able to afford the four-year loan, how much interest in total would she have saved compared to the five-year loan? Work:
Loan Interest. Sharon is considering the purchase of a car. After making the down payment, she will finance $21.530. Sharon is offered three maturities on four-year loan, Sharon will pay $515.56 per month. On a five-year loan, Sharon's monthly payments will be $426.32. On a six-year loan, they will be $367 0 Sharon rejects the four-year loan, as it is not within her budget. So, Sharon would pay $4,049.20 in interest over the life of the five-year loan. On the...
Mark has borrowed $22213 to finance the purchase a second hand car. The loan is to be repaid over five years with monthly payments. Interest on the loan is charged monthly at 9.2% p.a. How much will each payment be, if Mark makes the first payment right away, on the day the car is delivered? (Give your answer to the nearest cent, omitting the dollar sign.) Answer:
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