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Suppose you have a student loan of $30,000 with an APR of 12% for 40 years....
Suppose you have a student loan of $50000 with an APR of 12% for 40 years....
Suppose you have a student loan of $50000 with an APR of 12% for 40 years. a. What are your required monthly payments? The required monthly payment is $ ___ (Do not round until the final answer. Then round to the nearest cent as needed.) If paid off in 20 years? The percentage of the total paid that is interest is ?
Suppose you have the following three student loans: 513,000 with an APR of 8.5% for 17...
Suppose you have the following three student loans: 513,000 with an APR of 8.5% for 17 years $15,000 with an APRoffor 22 years, and $14,500 with an APR of 10% for 12 years Calculate the monthly payment for each loan individually, Calodate the total you'll pay in payments during the life of all tree foors. Abank offers to consolidate your three loans into a single lan with an APR of 9% and a loan term of 22 years. What will...
Consider a student loan of $17,500 at a fixed APR of 12% for 25 years. a....
Consider a student loan of $17,500 at a fixed APR of 12% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. (Do not round until the final answer. Then round to the nearest cent as needed.)
Consider a student loan of $17,500 at a fixed APR of 9% for 5 years. a....
Consider a student loan of $17,500 at a fixed APR of 9% for 5 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. . (Do not round until the final answer. Then round to the nearest cent as needed.)
Suppose that on January 1 you have a balance of $4700 on a credit card whose APR is 16%, which you want to pay off in 1...
Suppose that on January 1 you have a balance of $4700 on a credit card whose APR is 16%, which you want to pay off in 1 year. Assume that you make no addition al charges to the card after January 1 a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part (b) is interest? a. The monthly payment is...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $30,000 loan. Option 1 : a...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $30,000 loan. Option 1 : a 30-year loan at an APR of 5.65%. Option 2: a 15-year loan at an APR of 5.25%. Find the monthly payment for each option The monthly payment for option 1 is S The monthly payment for option 2 is $ (Do not round...
Suppose you want to borrow $95,000 and you find a bank offering a 20-year loan with...
Suppose you want to borrow $95,000 and you find a bank offering a 20-year loan with an APR of 79 a. Find your regular payments if you pay n 1, 12, 26, 52 times a year b. Compute the total payout for each of the loans in part (a). c. Compare the total payouts computed in part (b). a. The payment for n- 1 would be s The payment for n - 12 would be s The payment for n-...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing You need a $190,000 loan. Option 1: a 30-year loan at an APR of 10% Option 2: a 15-year loan at an APR of 9.5% Find the monthly payment for each option. The monthly payment for option 1 is $ The monthly payment for option 2 is S (Do not round until the...
Suppose that on January 1 you have a balance of $6200 on a credit card whose...
Suppose that on January 1 you have a balance of $6200 on a credit card whose APR is 14%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1. a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part(b) is interest? a. The monthly payment is $ (Do...
4.D.29 Suppose that on January 1 you have a balance of $6000 on a credit card...
4.D.29 Suppose that on January 1 you have a balance of $6000 on a credit card whose APR is 17%, which you want to pay off in 1 year. Assume that you make no additional charges to the card ather January 1 a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part(b) is interest? a. The monthly payment is $...
Suppose you have the following three student loans: 513,000 with an APR of 8.5% for 17 years $15,000 with an APRoffor 22 years, and $14,500 with an APR of 10% for 12 years Calculate the monthly payment for each loan individually, Calodate the total you'll pay in payments during the life of all tree foors. Abank offers to consolidate your three loans into a single lan with an APR of 9% and a loan term of 22 years. What will...
Suppose that on January 1 you have a balance of $4700 on a credit card whose APR is 16%, which you want to pay off in 1 year. Assume that you make no addition al charges to the card after January 1 a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part (b) is interest? a. The monthly payment is...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $30,000 loan. Option 1 : a 30-year loan at an APR of 5.65%. Option 2: a 15-year loan at an APR of 5.25%. Find the monthly payment for each option The monthly payment for option 1 is S The monthly payment for option 2 is $ (Do not round...
Suppose you want to borrow $95,000 and you find a bank offering a 20-year loan with an APR of 79 a. Find your regular payments if you pay n 1, 12, 26, 52 times a year b. Compute the total payout for each of the loans in part (a). c. Compare the total payouts computed in part (b). a. The payment for n- 1 would be s The payment for n - 12 would be s The payment for n-...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing You need a $190,000 loan. Option 1: a 30-year loan at an APR of 10% Option 2: a 15-year loan at an APR of 9.5% Find the monthly payment for each option. The monthly payment for option 1 is $ The monthly payment for option 2 is S (Do not round until the...
Suppose that on January 1 you have a balance of $6200 on a credit card whose APR is 14%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1. a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part(b) is interest? a. The monthly payment is $ (Do...
4.D.29 Suppose that on January 1 you have a balance of $6000 on a credit card whose APR is 17%, which you want to pay off in 1 year. Assume that you make no additional charges to the card ather January 1 a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part(b) is interest? a. The monthly payment is $...
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> how did yiou find monthly payment
tablest2599 Fri, Nov 12, 2021 7:52 PM