you wish to buy it 10,400 dining room table set. The furniture store offers you a...
Homework Answers
![Monthly payment = pmt = Loan = [(1-(1/(1+r^n)}}/r] 10,400 = [((1-(1/(1.00917436)}/0.00917] $340.48 If interest only payment =](http://img.homeworklib.com/questions/278508f0-78ae-11ea-ac3e-57f0b59678a6.png?x-oss-process=image/resize,w_560)
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wish to buy it 10,400 dining room table set. The furniture store
offers you a...
1.A.You wish to buy a $9,700 dining room set. The furniture store offers you a 2-year...
1.A.You wish to buy a $9,700 dining room set. The furniture store offers you a 2-year loan with an APR of 9 percent. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) B. How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $10,800 dining room set. The furniture store offers you a 3-ye...
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $10,800 dining room set. The furniture store offers you a 3-year loan with an APR of 10.8 percent. What are the monthly payments? (Do not round Intermediate calculations and round your final answer to 2 decimal places Payment per month How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment per month
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $9.200 dining room set. The furniture...
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $9.200 dining room set. The furniture store offers you a 3 year loan with an APR of 72 percent. What are the monthly payments? (Do not round Intermediate calculations and round your final answer to 2 decimal places) Payment How would the payment differ if you paid interest only? (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Payment per month
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $9,700 dining room set. The furniture...
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $9,700 dining room set. The furniture store offers you a 2-year loan with an APR of 9 percent. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment per month How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Paymentſ per month
You wish to buy a $22,000 car. The dealer offers you a 5-year loan with a...
You wish to buy a $22,000 car. The dealer offers you a 5-year loan with a 9 percent APR. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
What is the present value of a $1,000 annuity payment over four years if interest rates...
What is the present value of a $1,000 annuity payment over four years if interest rates are 7 percent? (Round your answer to two decimal places.) You wish to buy a $10,000 dining room set. The furniture store offers you a three- year loan with an 11 percent APR. What are the monthly payments? (Round your answer to two decimal places.)
A local furniture store is advertising a deal in which you buy a $2.600 dining room...
A local furniture store is advertising a deal in which you buy a $2.600 dining room set and do not need to pay for two years (no Interest cost is incurred). How much money would you have to deposit now in a savings account earning 6 percent APR compounded monthly, to pay the $2.600 bill in two years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value How much would you have to...
14 Problem 5-39 Loan Payments (LG5-9) You wish to buy a $23,500 car. The dealer offers...
14 Problem 5-39 Loan Payments (LG5-9) You wish to buy a $23,500 car. The dealer offers you a 5-year loan with a 9 percent APR. What are the monthly payments (Do not round intermediate calculations and round your final answer to 2 decimal places.) -Book Payment per month Hint erences How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment per month
A local furniture store is advertising a deal in which you buy a $2,900 dining room...
A local furniture store is advertising a deal in which you buy a $2,900 dining room set and do not need to pay for two years (no interest cost is incurred). How much money would you have to deposit now in a savings account earning 6 percent APR, compounded monthly, to pay the $2,900 bill in two years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Find Present value How much would you have...
Amortization Table. You wish to buy a $40,000 car. The bank can finance you with a 3-year loan at a 4 percent APR. If yo...
Amortization Table. You wish to buy a $40,000 car. The bank can finance you with a 3-year loan at a 4 percent APR. If you make a $7,000 down payment on the purchase. What are the monthly payments on your loan? How much will you pay in interest each year? Show the amortization table (use monthly payments).
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $10,800 dining room set. The furniture store offers you a 3-year loan with an APR of 10.8 percent. What are the monthly payments? (Do not round Intermediate calculations and round your final answer to 2 decimal places Payment per month How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment per month
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $9.200 dining room set. The furniture store offers you a 3 year loan with an APR of 72 percent. What are the monthly payments? (Do not round Intermediate calculations and round your final answer to 2 decimal places) Payment How would the payment differ if you paid interest only? (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Payment per month
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $9,700 dining room set. The furniture store offers you a 2-year loan with an APR of 9 percent. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment per month How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Paymentſ per month
What is the present value of a $1,000 annuity payment over four years if interest rates are 7 percent? (Round your answer to two decimal places.) You wish to buy a $10,000 dining room set. The furniture store offers you a three- year loan with an 11 percent APR. What are the monthly payments? (Round your answer to two decimal places.)
A local furniture store is advertising a deal in which you buy a $2.600 dining room set and do not need to pay for two years (no Interest cost is incurred). How much money would you have to deposit now in a savings account earning 6 percent APR compounded monthly, to pay the $2.600 bill in two years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value How much would you have to...
14 Problem 5-39 Loan Payments (LG5-9) You wish to buy a $23,500 car. The dealer offers you a 5-year loan with a 9 percent APR. What are the monthly payments (Do not round intermediate calculations and round your final answer to 2 decimal places.) -Book Payment per month Hint erences How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment per month
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