Please refer to below spreadsheet for calculation and answer. Cell reference also provided.
Cell reference -
Hope this will help, please do comment if you need any further explanation. Your feedback would be highly appreciated.
11 You just bought a car with loan of $80,000. You have to repay the loan...
6) Assume you just bought a new car and now have a car loan to repay. The amount of the principal is $22,000, the loan is at 5.9% APR, and the monthly payments are spread out over 6 years. What is the loan payment? Use a calculator to determine your answer. A) $305.56 B) $363.57 C) $331.14 D) $297.70
Emile bought a car for $27,000 three years ago. The loan had a 5 year term at 8% interest rate, and Emile has been making monthly payments for three years. How much does he still owe on the car? (Hint: first you will need to figure out the monthly payment on the 5 year loan.)
Emile bought a car for 529,000 three years ago. The loan had a 5 year term at 6X interest rate, and Emile has been making monthly payments for three years. How much does he still owe on the car? (Hint: first you will need to figure out the monthly payment on the 5 year loan.) Answer: Check
Emile bought a car for $27,000 three years ago. The loan had a 5 year term at 7% interest rate, and Emile has been making monthly payments for three years. How much does he still owe on the car? (Hint: first you will need to figure out the monthly payment on the 5 year loan.) Answer:
You have just graduated and you owe $41,919 on your student loan that has an interest rate of 6% (compounded annually). How long will it take you to pay it off if you make one payment per of year of $5,000? Enter your answer in whole years to the closest full year. (ex. 4, 8 ,10)
How much would you pay in total interest if you bought a car for $25,000 that was fully financed with a 6% auto loan that lasted 10 years (assuming that you make payments annually)?
1 1 point) How much interest in total would you have paid on the car loan in the question above through the first 24 months? O 1) 1,779 O2) 2,661 O 3) 2,952 O4) 3,113 O 5) 3,199 If you bought a new car for $31,000, to be repaid over 72 months at 5% interest compounded monthly, how much would you still owe after 24 months? (Payments and interest are in months). 01) 20,811 O2) 24,053 O 3) 21,679 4)...
please answer all of the following questions 25. You currently owe $26,000 on a car loan at 4.25 percent interest. If you make monthly payments of $596.59 per month, how long i.e., number of months rounded to one decimal place) will it take you to fully repay the loan? 26. It is now January 1. You plan to make 5 deposits of $300 each, one every 6 months, with the first payment being made exactly six months from today. If...
You have just purchased a car and taken out a $36,000 loan. The loan has a five-year term with monthly payments and an APR of 5.6%. a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) b. How much will you pay in interest, and how much will you pay in principal,...
In order to buy a new car, you finance $32,000 with no down payment for a term of five years at an APR of 6%. After you have the car for one year, you are in an accident. No one is injured, but the car is totaled. The insurance company says that before the accident, the value of the car had decreased by 25% over the time you owned it, and the company pays you that depreciated amount after subtracting...