QUESTION 5
Suppose you want to buy a house that costs $750,000. You are required to put 10% down, which means the amount to be borrowed is 90% of the price of the house. If you want a 30 year mortgage, and the borrowing rate is 5.6% APR compounded monthly, what would be your monthly payment? (Answer to the nearest penny)
5 points
QUESTION 6
Suppose you want to buy a car that costs $17,000. If the dealer is offering 100% financing at 7.4% APR compounded monthly for a 5 year loan, what would be the monthly payment? (Answer to the nearest penny)
5 points
QUESTION 7
Suppose you have accumulated $23,000 in credit card debt. If the interest rate on the credit card is 24.1% APR compounded monthly, how many years will it take you to pay off this debt if you pay $500 per month? (Answer to the nearest tenth of a year)
5 points
QUESTION 8
IF an interest rate is quoted as 18.5% APR compounded monthly, what would be the annual percentage yield (APY)? (Answer to the nearest tenth of a percent)
QUESTION 5 Suppose you want to buy a house that costs $750,000. You are required to...
Suppose you want to buy a house that costs $790,000. You are required to put 10% down, which means the amount to be borrowed is 90% of the price of the house. If you want a 30 year mortgage, and the borrowing rate is 6.6% APR compounded monthly, what would be your monthly payment? (Answer to the nearest penny)
Suppose you want to buy a house that costs $150,000. You are required to put 10% down, which means the amount to be borrowed is 90% of the price of the house. If you want a 30 year mortgage, and the borrowing rate is 4.39 APR compounded monthly, what would be your monthly payment? (Answer to the nearest penny)
QUESTION 6 Suppose you want to buy a car that costs $17,000. If the dealer is offering 100% financing at 7.4% APR compounded monthly for a 5 year loan, what would be the monthly payment? (Answer to the nearest penny)
suppose you have accumulated $22,000 in credit card debt. If the interest rate on the credit card is 22.3% APR compounded monthly, how many years will it take you to pay off this debt if you pay $500 per month? (Answer to the nearest tenth of a year)
Suppose you want to buy a house today that costs $479,312. The bank requires you to make a 20% down payment, but you can borrow the rest. If you are charged 5.81% APR and the mortgage is for 30 years, what is your monthly payment?
Suppose you want to buy a house today that costs $400,035. The bank requires you to make a 20% down payment, but you can borrow the rest. If you are charged 5.01% APR and the mortgage is for 30 years, what is your monthly payment?
you want to buy a house that costs $225,000. you will make a down payment equal to 20 percent of the price of the house and finance the remainder with a loan that has an apr of 5.25 percent compounded monthly. If the loan is for 30 years, what are your monthly mortgage payments?
You plan to buy a house in 5 years. You want to save money for a down payment on the new house. You are able to place $319 every month at the end of the month into a savings account at an annual rate of 8.30 percent, compounded monthly. How much money will be in the account after you made the last payment? Round the answer to two decimal places.
Suppose you want to buy a house that cost $100, 000.00 The bank requires a 5.0% down payment and will charge 10.80% interest compounded monthly. Suppose you put down the least amount that you could and borrow the rest from the bank. If you made monthly payments to the bank for 15 years, how much would each payment be?
You want to buy a house worth $3,230,000. You choose to take out a 30-year fixed rate conforming mortgage, put a downpayment of $1.4 million and borrow the rest. The APR of the mortgage is 4.563% compounded monthly. What is the Present Value of the overall amount of interest you have to pay?