Homework Answers
Add Answer to:
To help open up a wine bar, Jose borrowed money from an online lending company. He...
Try Again (c): Your answer is incorrect. Ashley borrowed money from an online lending company to...
Try Again (c): Your answer is incorrect. Ashley borrowed money from an online lending company to invest in antiques. She took out a personal, amortized loan for $24,500, at an interest rate of 7.2%, with monthly payments for a term of 1 year. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Ashley's monthly payment. 5 ? $2,122.16 (6) Ir...
O CONSUMER MATHEMATICS Finding the monthly payment, total payment, and intere.... Ashley borrowed money from an...
O CONSUMER MATHEMATICS Finding the monthly payment, total payment, and intere.... Ashley borrowed money from an online lending company to invest in antiques. She took out a personal, amortized loan for $24,500, at an interest rate of 7.2%, with monthly payments for a term of 1 year. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Ashley's monthly payment. X...
Maria borrowed money from a bank to invest in antiques. She took out a personal, amortized...
Maria borrowed money from a bank to invest in antiques. She took out a personal, amortized loan for $27,000, at an interest rate of 7.85% , with monthly payments for a term of 1 year For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Maria's monthly payment. ? (b) If Maria pays the monthly payment each month for the full...
bu merest Maria borrowed money from a bank to invest in antiques. She took out a...
bu merest Maria borrowed money from a bank to invest in antiques. She took out a personal, amortized loan for $27,000, at an interest rate of 7.85%, with monthly payments for a term of 1 year. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Maria's monthly payment. sl X 5 ? (b) If Maria pays the monthly payment each...
- - O CONSUMER MATHEMATICS Finding the monthly payment, total payment, and intere... To help open...
- - O CONSUMER MATHEMATICS Finding the monthly payment, total payment, and intere... To help open up a restaurant, Mal borrowed money from a bank. She took out a personal, amortized loan for $43,500, at an interest rate of 6.85%, with monthly payments for a term of 7 years. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Mai's monthly...
O CONSUMER MATHEMATICS Finding the monthly payment, total payment, and intere... To help pay for college,...
O CONSUMER MATHEMATICS Finding the monthly payment, total payment, and intere... To help pay for college, Salma borrowed money from her credit union. She took out a personal, amortized loan for $58,000, at an interest rate of 5.95%, with monthly payments for a term of 20 years. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Salma's monthly payment. X...
Consider the following loan. Complete parts (a)-(c) below An individual borrowed $73,000 at an APR of 7 % , which w...
Consider the following loan. Complete parts (a)-(c) below An individual borrowed $73,000 at an APR of 7 % , which will be paid off with monthly payments of $595 for 18 years. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ the annual interest rate is the number of payments per year is the loan term is years, and the payment amount...
Problem 1 (Required, 25 marks) A borrower has borrowed $2000000 from the bank. It is given...
Problem 1 (Required, 25 marks) A borrower has borrowed $2000000 from the bank. It is given that the loan charges interest at an annual effective interest rate 16.0755% and compound interest is assumed. (a) Suppose that the borrower decides to repay the loan by 180 monthly payments made at the end of every month, (i) Using retrospective method, calculate the outstanding balance at 60th repayment date. (ii) Calculate the interest due and principal repaid in 120th repayment. (b) Suppose that...
In month 10, the payment amount is $183.36. Of this payment amount, $ repays the principal....
In month 10, the payment amount is $183.36. Of this payment amount, $ repays the principal. pays interest, and You can see from this sample repayment schedule that the repayment amount generally remains the same from month to month. However, as the months progress, a percentage of the payment pays interest, and a percentage repays the principal. The add-on method is a widely used technique for computing interest on installment loans. With the add-on method, interest is calculated by applying...
Please give me complete details on how to do this. E-Loan, an online lending service, recently...
Please give me complete details on how to do this.
E-Loan, an online lending service, recently offered 48-month auto loans at 4.2% compounded monthly to applicants with good credit ratings. If you have a good credit rating and can afford monthly payments of $360, how much can you borrow from E-Loan? What is the total interest you will pay for this loan? You can borrow $(Round to two decimal places.) You will pay a total of Sin interest. (Round to...
Try Again (c): Your answer is incorrect. Ashley borrowed money from an online lending company to invest in antiques. She took out a personal, amortized loan for $24,500, at an interest rate of 7.2%, with monthly payments for a term of 1 year. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Ashley's monthly payment. 5 ? $2,122.16 (6) Ir...
O CONSUMER MATHEMATICS Finding the monthly payment, total payment, and intere.... Ashley borrowed money from an online lending company to invest in antiques. She took out a personal, amortized loan for $24,500, at an interest rate of 7.2%, with monthly payments for a term of 1 year. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Ashley's monthly payment. X...
Maria borrowed money from a bank to invest in antiques. She took out a personal, amortized loan for $27,000, at an interest rate of 7.85% , with monthly payments for a term of 1 year For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Maria's monthly payment. ? (b) If Maria pays the monthly payment each month for the full...
bu merest Maria borrowed money from a bank to invest in antiques. She took out a personal, amortized loan for $27,000, at an interest rate of 7.85%, with monthly payments for a term of 1 year. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Maria's monthly payment. sl X 5 ? (b) If Maria pays the monthly payment each...
- - O CONSUMER MATHEMATICS Finding the monthly payment, total payment, and intere... To help open up a restaurant, Mal borrowed money from a bank. She took out a personal, amortized loan for $43,500, at an interest rate of 6.85%, with monthly payments for a term of 7 years. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Mai's monthly...
O CONSUMER MATHEMATICS Finding the monthly payment, total payment, and intere... To help pay for college, Salma borrowed money from her credit union. She took out a personal, amortized loan for $58,000, at an interest rate of 5.95%, with monthly payments for a term of 20 years. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Salma's monthly payment. X...
Consider the following loan. Complete parts (a)-(c) below An individual borrowed $73,000 at an APR of 7 % , which will be paid off with monthly payments of $595 for 18 years. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ the annual interest rate is the number of payments per year is the loan term is years, and the payment amount...
Problem 1 (Required, 25 marks) A borrower has borrowed $2000000 from the bank. It is given that the loan charges interest at an annual effective interest rate 16.0755% and compound interest is assumed. (a) Suppose that the borrower decides to repay the loan by 180 monthly payments made at the end of every month, (i) Using retrospective method, calculate the outstanding balance at 60th repayment date. (ii) Calculate the interest due and principal repaid in 120th repayment. (b) Suppose that...
In month 10, the payment amount is $183.36. Of this payment amount, $ repays the principal. pays interest, and You can see from this sample repayment schedule that the repayment amount generally remains the same from month to month. However, as the months progress, a percentage of the payment pays interest, and a percentage repays the principal. The add-on method is a widely used technique for computing interest on installment loans. With the add-on method, interest is calculated by applying...
Please give me complete details on how to do this.
E-Loan, an online lending service, recently offered 48-month auto loans at 4.2% compounded monthly to applicants with good credit ratings. If you have a good credit rating and can afford monthly payments of $360, how much can you borrow from E-Loan? What is the total interest you will pay for this loan? You can borrow $(Round to two decimal places.) You will pay a total of Sin interest. (Round to...
Most questions answered within 3 hours.
-
Little’s Law: Val d’Costa is a world famous ski village in the
French Alps. Because of...
asked 21 minutes ago -
Find the absolute error D for the calculation if A + B/C=D A=
9.4 +/- 0.4...
asked 34 minutes ago -
New Air Heating and Cooling, manufactures furnaces and central
air units. The company pride itself on...
asked 48 minutes ago -
A coach uses a new technique to train gymnasts. Seven
gymnasts were randomly selected and their...
asked 2 hours ago -
While rotating the tires on your car you notice a rock [mass =
0.1 Kg] stuck...
asked 4 hours ago -
Using MARS simulator, write MIPS programs according to
the following scenarios: Receive a positive integer number...
asked 6 hours ago -
An object in front of a concave mirror has a real image that is
11.5 cm...
asked 6 hours ago -
Consider the reaction, C3 H8 + O2 --> CO2 + H2O. How many
moles of O2...
asked 8 hours ago -
You and your opponent both roll a fair die. If you both roll the
same number,...
asked 8 hours ago -
In a study of the accuracy of fast food drive-through orders,
Restaurant A had 257 accurate...
asked 8 hours ago -
Identify and describe in detail the four categories of
institutions that could be included in a...
asked 8 hours ago -
In python
class Customer:
def __init__(self, customer_id, last_name, first_name, phone_number, address):
self._customer_id = int(customer_id)
self._last_name =...
asked 9 hours ago