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4. Tim got a new car with a loan of...
please no excel only formulas 4. Tim got a new car with a loan of $23,000...
please no excel only formulas
4. Tim got a new car with a loan of $23,000 at 6% per year compounded monthly. There are 35 payments. If each payment is larger than the previous one by $17.00. What would be the size of first and last payment?
• 1) A new car is purchased and a $20,000 loan is taken. The loan is...
• 1) A new car is purchased and a $20,000 loan is taken. The loan is for 5 years (60 months) and the interest rate is 7.9% compounded monthly. What is the monthly payment? • 2)A new car is purchased and a $20,000 loan is taken. The loan is for 5 years (60 months) and the interest rate is 7.9% compounded monthly. What is the balance after 3 years? . 3) A new car is purchased and a $30,000 loan...
Please post with mathematical formulas please, not an excel sheet! 1. Mr. X is repaying a loan by monthly payments of $1...
Please post with mathematical
formulas please, not an excel sheet!
1. Mr. X is repaying a loan by monthly payments of $146.75 at a nominal annual rate of 9% compounded monthly. Immediately after one of the pay- ments is made, when Mr. X has still 50 payments ahead of him, the lender lowers the interest rate to 7.8% nominal annual rate compounded monthly. Mr. X chooses to keep the same monthly payments, except the last payment that is larger than...
Please use engineering economy relations. no excel. Problem 3: A family decided to buy a super...
Please use engineering economy relations. no excel.
Problem 3: A family decided to buy a super ski and water sports boat. They took out an $80,000,5-year, 6% per year, compounded monthly loan with monthly payments from their bank. After making only two payments, a banker friend offered to make them a better deal: a 5-year, 4.2% per year, compounded monthly loan. The principal on the new loan will be the remaining principal from the current loan. Answer the following questions:...
should be explain it on excel Solve all of the following problems with Excel. Please use formulas in excel to solve. (2) (10 pts) (a) Assume monthly car payments of $500 per month for 4 years and...
should be explain it on excel
Solve all of the following problems with Excel. Please use formulas in excel to solve. (2) (10 pts) (a) Assume monthly car payments of $500 per month for 4 years and an interest rate of 0.75% per month. 1. What initial principal will this repay? (b) Assume annual car payments of $6000 for 4 years and an interest rate of 9% per year. 1. What initial principal will this repay? (c) Assume monthly car...
Solve all of the following problems with Excel. Please use formulas in excel to solve. (2) (a) Assume monthly car payments of $500 per month for 4 years and an interest rate of 0.75% per month. 1. Wha...
Solve all of the following problems with Excel. Please use formulas in excel to solve. (2) (a) Assume monthly car payments of $500 per month for 4 years and an interest rate of 0.75% per month. 1. What initial principal will this repay? (b) Assume annual car payments of $6000 for 4 years and an interest rate of 9% per year. 1. What initial principal will this repay? (c) Assume monthly car payments of $500 per month for 4 years...
Monthly loan payments Personal Finance Problem Tim Smith is shopping for a used luxury car. He...
Monthly loan payments Personal Finance Problem Tim Smith is shopping for a used luxury car. He has found one priced at $27,000. The dealer has told Tim that if he can come up with a down payment of $5,400, the dealer will finance the balance of the price at a 7% annual rate over 5 years (60 months). (Hint: Use four decimal places for the monthly interest rate in all your calculations.) a. Assuming that Tim accepts the dealer's offer,...
Monthly loan payments Personal Finance Problem Tim Smith is shopping for a used luxury car. He...
Monthly loan payments Personal Finance Problem Tim Smith is shopping for a used luxury car. He has found one priced at $39,000. The dealer has told Tim that if he can come up with a down payment of $5,900, the dealer will finance the balance of the price at a 5% annual rate over 5 years (60 months). (Hint: Use four decimal places for the monthly interest rate in all your calculations.) a. Assuming that Tim accepts the dealer's offer,...
23. a. A couple estimates that they will need to buy a new car in 4 years. They estimate that the...
23. a. A couple estimates that they will need to buy a new car in 4 years. They estimate that the car will cost $20,000. They decide to set up a sinking fund by making equal monthly payments into an account paying an annual rate of 5.5% compounded monthly. What is the amount of each payment? a. $321.99 b. $340.85 c. $365.25 d. $373.46 b. Consider a car loan amount of $8,000 for a term of 3 years at 12%...
4 Balloons You are an important local real estate investor; you just got a $10,000,000 balloon...
4 Balloons You are an important local real estate investor; you just got a $10,000,000 balloon loan to buy a new office building in your home town. The nominal maturity of the loan is 30 years, but the loan has a 10-year balloon payment. In other words, the loan will end at the end of the 10th year, and the outstanding balance will be paid off in a lump sum at that time. The interest on the loan is 6.7%...
please no excel only formulas
4. Tim got a new car with a loan of $23,000 at 6% per year compounded monthly. There are 35 payments. If each payment is larger than the previous one by $17.00. What would be the size of first and last payment?
• 1) A new car is purchased and a $20,000 loan is taken. The loan is for 5 years (60 months) and the interest rate is 7.9% compounded monthly. What is the monthly payment? • 2)A new car is purchased and a $20,000 loan is taken. The loan is for 5 years (60 months) and the interest rate is 7.9% compounded monthly. What is the balance after 3 years? . 3) A new car is purchased and a $30,000 loan...
Please post with mathematical
formulas please, not an excel sheet!
1. Mr. X is repaying a loan by monthly payments of $146.75 at a nominal annual rate of 9% compounded monthly. Immediately after one of the pay- ments is made, when Mr. X has still 50 payments ahead of him, the lender lowers the interest rate to 7.8% nominal annual rate compounded monthly. Mr. X chooses to keep the same monthly payments, except the last payment that is larger than...
Please use engineering economy relations. no excel.
Problem 3: A family decided to buy a super ski and water sports boat. They took out an $80,000,5-year, 6% per year, compounded monthly loan with monthly payments from their bank. After making only two payments, a banker friend offered to make them a better deal: a 5-year, 4.2% per year, compounded monthly loan. The principal on the new loan will be the remaining principal from the current loan. Answer the following questions:...
should be explain it on excel
Solve all of the following problems with Excel. Please use formulas in excel to solve. (2) (10 pts) (a) Assume monthly car payments of $500 per month for 4 years and an interest rate of 0.75% per month. 1. What initial principal will this repay? (b) Assume annual car payments of $6000 for 4 years and an interest rate of 9% per year. 1. What initial principal will this repay? (c) Assume monthly car...
Monthly loan payments Personal Finance Problem Tim Smith is shopping for a used luxury car. He has found one priced at $27,000. The dealer has told Tim that if he can come up with a down payment of $5,400, the dealer will finance the balance of the price at a 7% annual rate over 5 years (60 months). (Hint: Use four decimal places for the monthly interest rate in all your calculations.) a. Assuming that Tim accepts the dealer's offer,...
Monthly loan payments Personal Finance Problem Tim Smith is shopping for a used luxury car. He has found one priced at $39,000. The dealer has told Tim that if he can come up with a down payment of $5,900, the dealer will finance the balance of the price at a 5% annual rate over 5 years (60 months). (Hint: Use four decimal places for the monthly interest rate in all your calculations.) a. Assuming that Tim accepts the dealer's offer,...
4 Balloons You are an important local real estate investor; you just got a $10,000,000 balloon loan to buy a new office building in your home town. The nominal maturity of the loan is 30 years, but the loan has a 10-year balloon payment. In other words, the loan will end at the end of the 10th year, and the outstanding balance will be paid off in a lump sum at that time. The interest on the loan is 6.7%...
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