How long will it take to pay off a loan of $53,000 at an annual rate of 12 percent compounded monthly if you make monthly payments of $550? Use five decimal places for the monthly percentage rate in your calculations
How long will it take to pay off a loan of $53,000 at an annual rate...
how long will it take to pay off a loan of $53,000 at an annual rate of 8 percent compounded monthly if you make monthly payments of $650? Use five decimal places for the monthly percentage rate in your calculations
How long will it take to pay off a loan of $48,000 at an annual rate of 12 percent compounded monthly if you make monthly payments of $800? Use five decimal places for the monthly percentage rate in your calculations.
How long will it take to pay off a loan of $47,000 at an annual rate of 8 percent compounded monthly if you make monthly payments of $400? Use five decimal places for the monthly percentage rate in your calculations.
How long will it take to pay off a loan of $51 comma 000 at an annual rate of 9 percent compounded monthly if you make monthly payments of $800? Use five decimal places for the monthly percentage rate in your calculations. The number of years it takes to pay off the loan is nothing years. (Round to one decimal place.)
How long will it take to pay off a loan of $50 comma 00050,000 at an annual rate of 99 percent compounded monthly if you make monthly payments of $600600? Use five decimal places for the monthly percentage rate in your calculations. The number of years it takes to pay off the loan is nothing years. (Round to one decimal place.)
(Annuity number of periods) How long will it take to pay off a loan of $54,000 at an annual rate of 11 percent compounded monthly if you make monthly payments of $500? Use five decimal places for the monthly percentage rate in your calculations. The number of years it takes to pay off the loan is ___ years. (Round to one decimal place.)
How long will it take to pay off a loan of $46 comma 000 at an annual rate of 12% compounded monthly if you make monthly payments of $800 (round up)? To pay off the loan, it will take approximately nothing years. (Round up to the nearest integer.)
How many months will it take you to pay off a loan of $20,000 at 5% APR compounded monthly if you make monthly payments of $825?
How many months will it take you to pay off a loan of $19,000 at 5% APR compounded monthly if you make monthly payments of $925?
Problem 5-50 Effective Interest Rate (L04) You've borrowed $8,117.01 and agreed to pay back the loan with monthly payments of $290. Assume the interest rate is 12% stated as an APR. a. How long will it take you to pay back the loan? (Do not round intermediate calculations. Round your answer to the nearest whole number.) Number of months b. What is the effective annual rate on the loan? (Do not round intermediate calculations. Enter your answer as a percent...