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Question 5 of 6 Tan Company purchased a large server for $39,000. The company paid 45.00%...
Question 3 of 6 Tan Company purchased a large server for $40,500. The company paid 40.00%...
Question 3 of 6 Tan Company purchased a large server for $40,500. The company paid 40.00% of the value as a down-payment and received a loan for the balance at 5.00% compounded monthly. The loan has a term of 3 years and Tan Company has to make month-end payments to settle the loan. a. What is the size of the month-end payments? $0.00 Round to the nearest cent b. What was the total amount paid to settle the loan? $0.00...
Question 2 of 4 Tan Company purchased a large server for $37,500. The company paid 50.00%...
Question 2 of 4 Tan Company purchased a large server for $37,500. The company paid 50.00% of the value as a down-payment and received a loan for the balance at 4.25% compounded monthly. The loan has a term of 6 years and Tan Company has to make month-end payments to settle the loan. a. What is the size of the month-end payments? $0.00 Round to the nearest cent b. What was the total amount paid to settle the loan? $0.00...
Lionel purchased a machine for $25,000 for his company. He paid 5.00% of this amount as...
Lionel purchased a machine for $25,000 for his company. He paid 5.00% of this amount as a down payment and financed the rest at 6.42% compounded quarterly. He paid $1,125 at the end of every quarter to settle the loan. a. What was the principal portion of payment number 4? Round to the nearest cent b. What was the interest portion of payment number 4? Round to the nearest cent
Jasmine purchased a machine for $29,500 for her company. She paid 5.00% of this amount as...
Jasmine purchased a machine for $29,500 for her company. She paid 5.00% of this amount as a down payment and financed the rest at 6.12% compounded monthly. She paid $1,125 at the end of every month to settle the loan. What was the principal portion of payment number 4? What was the interest portion of payment number 4?
Instructor-created question Question Help A student takes out a loan of $2,600 at the beginning of...
Instructor-created question Question Help A student takes out a loan of $2,600 at the beginning of each semester (semi-annually) for 11 semesters to pay for college. The loan charges 7.4% interest compounded semiannually. The student graduates after the 11 semesters and refinances the loan to a lower 6.7% rate compounded monthly with monthly payment (made at the end of each month) for 120 months. Find the monthly payment and the total interest paid The monthly payment is $ (Round to...
Question 2 of 5 Shelby had a loan of $135,000 and made payments of $2,500 at...
Question 2 of 5 Shelby had a loan of $135,000 and made payments of $2,500 at the end of every month to settle it. If he received the loan at 2.52% compounded monthly, what was the balance on the loan at the end of three years? $52,202.55 Round to the nearest cent Next Question : cly Ply TY : 12 = 2.52 : 135.000 * 2500 PMI : 19157.37509139 P = 12x3 : 36 AMORT = 52.262.55
Question 1 of 6 Lucy purchased a house for $300,000. She made a down payment of...
Question 1 of 6 Lucy purchased a house for $300,000. She made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 4.52% compounded semi-annually amortized over 15 years. The interest rate was fixed for a 6 year period. a. Calculate the monthly payment amount. Round to the nearest cent b. Calculate the principal balance at the end of the 6 year term. Round to the nearest cent...
The problem: Monica's current debt consists of three types of loans: a bank card, an auto loan and a department store card. She owes a total of $25,000 and her monthly payments sum to $5...
The problem: Monica's current debt consists of three types of loans: a bank card, an auto loan and a department store card. She owes a total of $25,000 and her monthly payments sum to $549.61.The amount she owes, the monthly payment and the interest rates appear in the table below: Loan Type Annual Percentage rate, APR Loan Amount Monthly Payment Current Debt) S12,000 $11,500 S 1,500 $25,000 Bank Card Auto Loan 18% 5.5% $243.85 $257.88 Department Store Card | 15%...
Question 11 of 13 Lush Gardens bought a new truck for $85,000. It paid $10,000 as...
Question 11 of 13 Lush Gardens bought a new truck for $85,000. It paid $10,000 as a down payment and financed the balance at 4.50% compounded monthly. If the company makes payments of $1,650 at the end of every month, how long will it take to pay off the loan? year(s) + month(s) Round up to the next payment period. Give your answer in years and months.
A student borrows $56,400 at 8.4% compounded monthly. Find the monthly payment and total interest paid...
A student borrows $56,400 at 8.4% compounded monthly. Find the monthly payment and total interest paid over a 30 year payment plan. The payment size is $ (Round to the nearest cent.) Find the size of each of 4 payments made at the end of each year into a 9% rate sinking fund which produces $56000 at the end of 4 years. The payment size is $ (Round to the nearest cent.) Find the amount of each payment to be...
Question 3 of 6 Tan Company purchased a large server for $40,500. The company paid 40.00% of the value as a down-payment and received a loan for the balance at 5.00% compounded monthly. The loan has a term of 3 years and Tan Company has to make month-end payments to settle the loan. a. What is the size of the month-end payments? $0.00 Round to the nearest cent b. What was the total amount paid to settle the loan? $0.00...
Question 2 of 4 Tan Company purchased a large server for $37,500. The company paid 50.00% of the value as a down-payment and received a loan for the balance at 4.25% compounded monthly. The loan has a term of 6 years and Tan Company has to make month-end payments to settle the loan. a. What is the size of the month-end payments? $0.00 Round to the nearest cent b. What was the total amount paid to settle the loan? $0.00...
Lionel purchased a machine for $25,000 for his company. He paid 5.00% of this amount as a down payment and financed the rest at 6.42% compounded quarterly. He paid $1,125 at the end of every quarter to settle the loan. a. What was the principal portion of payment number 4? Round to the nearest cent b. What was the interest portion of payment number 4? Round to the nearest cent
Instructor-created question Question Help A student takes out a loan of $2,600 at the beginning of each semester (semi-annually) for 11 semesters to pay for college. The loan charges 7.4% interest compounded semiannually. The student graduates after the 11 semesters and refinances the loan to a lower 6.7% rate compounded monthly with monthly payment (made at the end of each month) for 120 months. Find the monthly payment and the total interest paid The monthly payment is $ (Round to...
Question 2 of 5 Shelby had a loan of $135,000 and made payments of $2,500 at the end of every month to settle it. If he received the loan at 2.52% compounded monthly, what was the balance on the loan at the end of three years? $52,202.55 Round to the nearest cent Next Question : cly Ply TY : 12 = 2.52 : 135.000 * 2500 PMI : 19157.37509139 P = 12x3 : 36 AMORT = 52.262.55
Question 1 of 6 Lucy purchased a house for $300,000. She made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 4.52% compounded semi-annually amortized over 15 years. The interest rate was fixed for a 6 year period. a. Calculate the monthly payment amount. Round to the nearest cent b. Calculate the principal balance at the end of the 6 year term. Round to the nearest cent...
The problem: Monica's current debt consists of three types of loans: a bank card, an auto loan and a department store card. She owes a total of $25,000 and her monthly payments sum to $549.61.The amount she owes, the monthly payment and the interest rates appear in the table below: Loan Type Annual Percentage rate, APR Loan Amount Monthly Payment Current Debt) S12,000 $11,500 S 1,500 $25,000 Bank Card Auto Loan 18% 5.5% $243.85 $257.88 Department Store Card | 15%...
Question 11 of 13 Lush Gardens bought a new truck for $85,000. It paid $10,000 as a down payment and financed the balance at 4.50% compounded monthly. If the company makes payments of $1,650 at the end of every month, how long will it take to pay off the loan? year(s) + month(s) Round up to the next payment period. Give your answer in years and months.
A student borrows $56,400 at 8.4% compounded monthly. Find the monthly payment and total interest paid over a 30 year payment plan. The payment size is $ (Round to the nearest cent.) Find the size of each of 4 payments made at the end of each year into a 9% rate sinking fund which produces $56000 at the end of 4 years. The payment size is $ (Round to the nearest cent.) Find the amount of each payment to be...
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