One of your major customers, just purchased 600 sleeper mattresses. You are awaiting payment on $20,000;...
Question 1 2 pts One of your major customers, just purchased 600 sleeper mattresses. You are awaiting payment on $20,000; you have negotiated an APR of 15.96% on the repayment plan, and a monthly payment of $433.00. The customer will pay off the outstanding amount in months or years ROUND YOUR ANSWERS TO TWO DECIMAL PLACES
You need a new car and the dealer has offered you a price of $20,000, with the following payment options: (a) pay cash and receive a $2,000 rebate, or (b) pay a $5,000 down payment and finance the rest with a 0% APR loan over 30 months. But having just quit your job and started an MBA program, you are in debt and you expect to be in debt for at least the next 2 years. You plan to use...
You have just purchased a car and, to fund the purchase, you borrowed $20,000. If your monthly payments are $473.82 for the next 4 years, what is the APR of the loan?
You have just purchased a car and, to fund the purchase, you borrowed $20,000. If your monthly payments are $473.82 for the next 4 years, what is the APR of the loan?
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.)
You need a new car and the dealer has offered you a price of $20,000, with the following payment options: (a) pay cash and receive a $2,000 rebate, or (b) pay a $5,000 down payment and finance the rest with a 0% APR loan over 30 months. But having just quit your job and started an MBA program, you are in debt and you expect to be in debt for at least the next 2 ½ years. You plan to use credit cards to...
You have an outstanding student loan with required payments of $600 per month for the next four years. The interest rate on the loan is 9% APR (compounded monthly). Now that you realize your best investment is to prepay your student loan, you decide to prepay as much as you can each month Looking at your budget, you can afford to pay an extra $250 a month in addition to your required monthly payments of $600, or $850 in total...
You have an outstanding student loan with required payments of $600 per month for the next four years. The interest rate on the loan is 10% APR (compounded monthly). Now that you realize your best investment is to prepay your student loan, you decide to prepay as much as you can each month. Looking at your budget, you can afford to pay an extra S250 a month in addition to your required monthly payments of $600, or $850 in total...
You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current monthly payment is $ 1850 and you have made every payment on time. The original term of the mortgage was 30 years, and the mortgage is exactly four years and eight months old. You have just made your monthly payment. The mortgage interest rate is 6.375 % (APR). How much do you owe on the mortgage today? (Note: Be careful...
You borrowed $20,000 one year ago. The loan terms are: 5-year loan with APR of 24% compounded monthly. There are 3 questions to answer for this problem. In your answers, do not use the $ sign, use comma to separate thousands, and round to the nearest dollar. 1. What is the monthly payment for this loan? 2. What is the loan balance today? 3. Today, you decide you want to pay off the loan in 20 months rather than the...