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When you purchased your car, you took out a five-year annual payment loan with an interest...
When you purchased your car, you took out a five-year annual payment loan with an interest rate of 5.9% per year. The annual payment on the car is $5,300. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios? a. You have owned the car for one year (so there are four years left on the loan)? b. You have owned...
When you purchased your car, you took out a five-year annual-payment loan with an interest rate of 6.3% per year. The annual payment on the car is $5,100. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios? a. You have owned the car for one year (so there are four years left on the loan)? b. You have owned the...
When you purchased your car, you took out a five-year annual-payment loan with an interest rate of 6% per year. The annual payment on the car is $5,000. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios? a) You have owned the car for one year (so there are four years left on the loan). b) You have owned the...
When you purchased your car, you took out a five-year annual-payment loan with an interest rate of 5.6% per year. The annual payment on the car is $5,400. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios? a. You have owned the car for one year (so there are four years left on the loan)? b. You have owned the...
(round the the nearest cent) When you purchased your car, you took out a five-year annual-payment loan with an interest rate of 6.2% per year. The annual payment on the car is $5,200. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios? a. You have owned the car for one year (so there are four years left on the loan)?...
When you purchased your house, you took out a 30-year annual-payment mortgage with an interest rate of 5 % per year. The annual payment on the mortgage is $ 17 comma 573. You have just made a payment and have now decided to pay the mortgage off by repaying the outstanding balance. a. What is the payoff amount if you have lived in the house for 18 years (so there are 12 years left on the mortgage)? b. What is...
Quiz: Chapter 4 Quiz (Copy) Time Remaining: 02:33:54 Submit Quiz This Question: 1 pt 1 of 9 This Quiz: 9 pts possible When you purchased your car, you took out a five-year annual-payment loan with an interest rate of 6.1 % per year. The annual payment on the car is $5,000. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios?...
quiz: Chapter 4 Quiz (Copy) Time Remaining: 01:01:04 Submit Qu is Question: 1 pt 8 of 9 This Quiz: 9 pts possit When you purchased your car, you took out a five-year annual-payment loan with an interest rate of 5.5% per year. The annual payment on the car is $4,800. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios? a....
with an interest rate of 5 I payment on the car is $4,900 You have just made annua balance What is the payoff amount for the following scenarios? a. You have b. You have he car for one year (so there are four years left on the loan)? owned the car for four years (so there is one year left on the loan)? car for one year (so there are four years left on the loan) is (Round to the...
1.) When you purchased your house 12 years ago, you took out a $300,225 mortgage to be paid back monthly over 30 years, with an APR of 6% compounded monthly. You have just made a payment and now have decided to pay the mortgage off by repaying the outstanding balance. a) What is your monthly payment on the mortgage? b.) What is the remaining balance of your mortgage? (Note there are 18 years left on the mortgage.)