You want to buy a $28,000 car. The company is offering a 3% interest rate for...
You want to buy a $28,000 car. The company is offering a 3% interest rate for 36 months (3 years). What will your monthly payments be?
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You want to buy a $28,000 car. The company is offering a 3%
interest rate for...
1. You want to buy a $24,000 car. The company is offering a 5% interest rate...
1. You want to buy a $24,000 car. The company is offering a 5% interest rate for 48 months (4 years). What will your monthly payments be? 2. You have $3,500 on a credit card that charges a 19% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)? $ each month
Gerritt wants to buy a car that costs $28,000. The interest rate on his loan is...
Gerritt wants to buy a car that costs $28,000. The interest rate on his loan is 5.43 percent compounded monthly and the loan is for 7 years. What are his monthly payments?
In 3 years from now you want to buy a new car. You expect the price...
In 3 years from now you want to buy a new car. You expect the price of the car of your dreams to be $55,000 (price in 3 years). How big are your equal monthly contributions to your savings account if you want to have enough money saved to buy that car in 3 years? Assume you start saving in two months from today and make your last contribution in 3 years (i.e., monthly payments at t = 2, 3,...
You want to borrow $34,000 to buy a new car. Your interest rate is 4.5% over...
You want to borrow $34,000 to buy a new car. Your interest rate is 4.5% over 7 years with monthly payments. Calculate your monthly payment.
You want to buy a car, and a local bank will lend you $30,000. The loan...
You want to buy a car, and a local bank will lend you $30,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 8%, with interest paid monthly. What is the monthly loan payment? Round your answer to the nearest cent.
Q4: You want to buy a car, and a bank will lend you $30,000. The loan...
Q4: You want to buy a car, and a bank will lend you $30,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 5%, with interest paid monthly. What is the monthly loan payment? What is the loan's EFF%?
Q4: You want to buy a car, and a bank will lend you $30,000. The loan...
Q4: You want to buy a car, and a bank will lend you $30,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 5%, with interest paid monthly. What is the monthly loan payment? What is the loan's EFF%?
Congratulations! You just bought a new car. The car costs $28,000 and the car dealer allows...
Congratulations! You just bought a new car. The car costs $28,000 and the car dealer allows you to finance it with a six year loan at an interest rate of 8% per year. You will be required to make fixed monthly car payments for 72 months (covering interest and amortization) until the loan is paid in full. What will be your monthly car payment? I got $490.93. I just want to make sure I am correct
12. You decide to buy a car that costs $15.000. You want to borrow all the...
12. You decide to buy a car that costs $15.000. You want to borrow all the money at a 6.5% (annual) interest rate. You want to pay it in 4 months. Find your monthly payment and write it in the table below. a. Fill in the amortization schedule showing how much of each of your monthly payments go to interest and how much to your principal. Principal: $15,000.00 Interest Rate: 6.50% Payment Interval: Monthly # of Payments: 4 Payment: S...
You want to buy a house and will need to borrow $235,000. The interest rate on...
You want to buy a house and will need to borrow $235,000. The interest rate on your loan is 5.65 percent compounded monthly and the loan is for 20 years. What are your monthly mortgage payments?
You want to borrow $34,000 to buy a new car. Your interest rate is 4.5% over 7 years with monthly payments. Calculate your monthly payment.
12. You decide to buy a car that costs $15.000. You want to borrow all the money at a 6.5% (annual) interest rate. You want to pay it in 4 months. Find your monthly payment and write it in the table below. a. Fill in the amortization schedule showing how much of each of your monthly payments go to interest and how much to your principal. Principal: $15,000.00 Interest Rate: 6.50% Payment Interval: Monthly # of Payments: 4 Payment: S...
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