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To finance his education Chris took out student loans totaling $33 300. He consolidated these loans...
To finance his education, Chris took out student loans totalling $28,400. He consolidated these loans into a single loan with monthly payments for 10 years and an interest rate of 8%. After making payments for 6 years, his grandfather has graciously offered to pay off the remaining balance. Calculate the amount needed to pay off his loan. 1. The amount needed to pay off this loan after 6 years is $ (Round to the nearest cent as needed.)
You took out some student loans in college and now owe $12,000. You consolidated the loans into one amortizing loan, which has an annual interest rate of 4% (APR). Attempt 1/5 for 10 pts. Part 1 If you make monthly payments of $200, how many months will it take to pay off the loan? Fractional values are acceptable.
You took out some student loans in college and now owe $12,000. You consolidated the loans into one amortizing loan, which has an annual interest rate of 6% (APR). Attempt 1/5 for 10 pts. Part 1 If you make monthly payments of $200, how many months will it take to pay off the loan? Fractional values are acceptable.
To pay for your education, you've taken out $18,000 in student loans. If you make monthly payments over 12 years at 6 percent compounded monthly, how much are your monthly student loan payments? Your monthly student loan payments are S (Round to the nearest cent)
To pay for your education, you've taken out $18,000 in student loans. H you make monthiy payments over 12 years at 8 percent compounded monthly, how much are your monthly student loan payments? Your monthly student loan payments are (Round to the nearest cent.)
2. Amortization. Tanner has just begun paying off his student loans of $30,000 which he has decided to pay off over the next 15 years at an annual rate of 5%, compounded monthly, making monthly payments. Use an amortization table and present value tools to advise Tanner on the following: Answer Point Value Points Earned 2.a. What will Tanner's monthly payment be? Work: 2.b. How much of Tanner's first monthly payment will be applied to pay down the principle on...
y for your education, you've taken out $20,000 in student loans. If you make monthly payments over 13 years at 9 percent compounded monthly, how much are monthly student loan payments? o pa y student loan payments are s(Round to the nearest cent)
Question 22 (0.5 points) To pay for your education, you've taken out $99,000 in student loans. If you make monthly payments over 10 years at 4% APR interest compounded monthly, how much are your monthly student loan payments? Your Answer: Answer
To purchase a car, Sarah took out a 60-month loan for $27,700 with a 6.2% annual interest rate. After making 43 payments, Sarah received a bonus from work and plans to use it to pay off the remaining balance. Calculate Sarah's monthly payment and the amount needed to pay off her loan. Sarah's monthly payment is (Round to the nearest cent.) payments remaining is The amount needed to pay off this loan with (Round to the nearest cent.)
To purchase a car, Sarah took out a 60-month loan for $30,100 with a 7.7% annual interest rate. After making 43 payments, Sarah received a bonus from work and plans to use it to pay off the remaining balance. Calculate Sarah's monthly payment and the amount needed to pay off her loan. Sarah's monthly payment is "Round to the nearest cent.) The amount needed to pay off this loan with Round to the nearest cent.) payments remaining is .