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First America Bank's monthly payment charge on a 48-month, $20,000 loan is $488.26. The U.S. Bank's...
how do I find the answer for U.S Bank? #13 First America Bank's monthly payment charge...
how do I find the answer for U.S Bank?
#13 First America Bank's monthly payment charge on a 48-month, $19,000 loan is $508.26. The U.S. Bank's monthly payment fee is $517.70 for the same loan amount. -> 12.8 What would be the APR for an auto loan for each of these banks? 12.q✓ N 48 - APR First America Bank /yl s X12 U.S. Bank pv 19000 PMT - 508.26 Fulo gi why is it wrong
You need a $10,000 car loan and are talking to two different banks. i. Big Bank...
You need a $10,000 car loan and are talking to two different banks. i. Big Bank offers you a $10,000 auto loan requiring 48 monthly payments of $275, paid at the end of each month. What is the APR of the loan? What is the effective annual rate? 11. Little Bank's loan has 4 annual year-end instalments, each equal to 12 times the Big Bank monthly loan payments, e.g. Payment =12*275 = $3300. Should you accept Little Bank's loan? (Ctrl)...
For the following loan, make a table showing the amount of each monthly payment that goes...
For the following loan, make a table showing the amount of each monthly payment that goes toward principal and interest for the first three months of the loan. A home mortgage of $145,000 with a fixed APR of 6% for 30 years. Fill out the table. New Principal End of... Payment Toward Interest Principal Month 1 (Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) $ $ Fill out...
You need a $10,000 car loan and are talking to two different banks. FIN 3013 Project...
You need a $10,000 car loan and are talking to two different banks. FIN 3013 Project 2. Time Value of money. Sarwar Se i. Big Bank offers you a $10,000 auto loan requiring 48 monthly payments of $275. paid at the end of each month. What is the APR of the loan? What is the effective annual rate? ii. Little Bank's loan has 4 annual year-end instalments, each equal to 12 times the Big Bank monthly loan payments, e.g. Payment...
An automobile loan of $22,000 at a nominal rate of 10% compounded monthly for 48 months...
An automobile loan of $22,000 at a nominal rate of 10% compounded monthly for 48 months requires equal end-of-month payments of $557.98. Complete the table below, as you would expect a bank to calculate the values. (Round to the nearest cent.) End of Month Interest Payment Repayment of Remaining Loan Principal Balance $ 183.33 $ 374.65 $21,625.35 $ 180.21 $377.77 $ 21247.58 $144.10 $17
Your bank offers you a 48-month, 3% APR car loan for a $56000 new Mercedes SLK300...
Your bank offers you a 48-month, 3% APR car loan for a $56000 new Mercedes SLK300 Roadster. What will your monthly payment be?
An automobile loan of $12,000 at a nominal rate of 4% compounded monthly for 48 months...
An automobile loan of $12,000 at a nominal rate of 4% compounded monthly for 48 months requires equal end-of-month payments of $270.95 Complete the table below, as you would expect a bank to calculate the values (Round to the nearest cent) End of Month (n) Interest Payment Repayment of Remaining Loan Principal Balance $11.769.05 523172 530 59 96 239 44 2 Enter your answer in each of the answer boxes
You take out an $8,600 car loan that calls for 48 monthly payments starting after 1...
You take out an $8,600 car loan that calls for 48 monthly
payments starting after 1 month at an APR of 6%. a. What is your
monthly payment? (Do not round intermediate calculations. Round
your answer to 2 decimal places.) b. What is the effective annual
interest rate on the loan? (Do not round intermediate calculations.
Enter your answer as a percent rounded to 2 decimal places.) c. Now
assume the payments are made in four annual year-end installments.
What...
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 costs. You need a $180,000 loan. Option 1: a 30-year loan at an APR of 8.5% Option 2 a 15-year loan at an APR of 8%. Find the monthly payment for each option. The monthly payment for option 1 is $ 1,384.04 The monthly payment for option 2 is $ 1,720.17 (Do not...
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 costs. You need a $170 comma 000 loan. Option 1: a 30-year loan at an APR of 7%. Option 2: a 15-year loan at an APR of 6.5%. Find the monthly payment for each option. The monthly payment for option 1 is $ nothing. The monthly payment for option 2 is $ nothing....
how do I find the answer for U.S Bank?
#13 First America Bank's monthly payment charge on a 48-month, $19,000 loan is $508.26. The U.S. Bank's monthly payment fee is $517.70 for the same loan amount. -> 12.8 What would be the APR for an auto loan for each of these banks? 12.q✓ N 48 - APR First America Bank /yl s X12 U.S. Bank pv 19000 PMT - 508.26 Fulo gi why is it wrong
You need a $10,000 car loan and are talking to two different banks. i. Big Bank offers you a $10,000 auto loan requiring 48 monthly payments of $275, paid at the end of each month. What is the APR of the loan? What is the effective annual rate? 11. Little Bank's loan has 4 annual year-end instalments, each equal to 12 times the Big Bank monthly loan payments, e.g. Payment =12*275 = $3300. Should you accept Little Bank's loan? (Ctrl)...
For the following loan, make a table showing the amount of each monthly payment that goes toward principal and interest for the first three months of the loan. A home mortgage of $145,000 with a fixed APR of 6% for 30 years. Fill out the table. New Principal End of... Payment Toward Interest Principal Month 1 (Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) $ $ Fill out...
You need a $10,000 car loan and are talking to two different banks. FIN 3013 Project 2. Time Value of money. Sarwar Se i. Big Bank offers you a $10,000 auto loan requiring 48 monthly payments of $275. paid at the end of each month. What is the APR of the loan? What is the effective annual rate? ii. Little Bank's loan has 4 annual year-end instalments, each equal to 12 times the Big Bank monthly loan payments, e.g. Payment...
An automobile loan of $22,000 at a nominal rate of 10% compounded monthly for 48 months requires equal end-of-month payments of $557.98. Complete the table below, as you would expect a bank to calculate the values. (Round to the nearest cent.) End of Month Interest Payment Repayment of Remaining Loan Principal Balance $ 183.33 $ 374.65 $21,625.35 $ 180.21 $377.77 $ 21247.58 $144.10 $17
Your bank offers you a 48-month, 3% APR car loan for a $56000 new Mercedes SLK300 Roadster. What will your monthly payment be?
An automobile loan of $12,000 at a nominal rate of 4% compounded monthly for 48 months requires equal end-of-month payments of $270.95 Complete the table below, as you would expect a bank to calculate the values (Round to the nearest cent) End of Month (n) Interest Payment Repayment of Remaining Loan Principal Balance $11.769.05 523172 530 59 96 239 44 2 Enter your answer in each of the answer boxes
You take out an $8,600 car loan that calls for 48 monthly
payments starting after 1 month at an APR of 6%. a. What is your
monthly payment? (Do not round intermediate calculations. Round
your answer to 2 decimal places.) b. What is the effective annual
interest rate on the loan? (Do not round intermediate calculations.
Enter your answer as a percent rounded to 2 decimal places.) c. Now
assume the payments are made in four annual year-end installments.
What...
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 $180,000 loan. Option 1: a 30-year loan at an APR of 8.5% Option 2 a 15-year loan at an APR of 8%. Find the monthly payment for each option. The monthly payment for option 1 is $ 1,384.04 The monthly payment for option 2 is $ 1,720.17 (Do not...
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