You are at a dealer's shop to buy a new sports car for $55,000. The dealer...
You are at a dealer's shop to buy a new sports car for $55,000. The dealer offers you a 6 percent APR, 5-year payment plan that requires you to make equal monthly payment starting from today. What will your monthly payment be?
A. $1047.90
B. $1,053.87
C. $1,058
D. $1,063.30
E. $1,072.11
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You are at a dealer's shop to buy a new sports car for $55,000.
The dealer...
You want to buy a new sports car for $55,000. The contract is in the form...
You want to buy a new sports car for $55,000. The contract is in the form of a 60-month “annuity” at a 6 percent APR, compounded monthly. What will your monthly payment be? (Show work) $1,072.11 $1,047.90 $1,063.30 $1,053.87 $1,067.13
You want to buy a new sports car from Muscle Motors for $55,000. The contract is...
You want to buy a new sports car from Muscle Motors for $55,000. The contract is in the form of a 48-month annuity due at a 7.00 percent APR. Required: What will your monthly payment be?
Problem #5: You want to buy a car that costs $21,000. The dealer wants a 10%...
Problem #5: You want to buy a car that costs $21,000. The dealer wants a 10% down payment and quotes a 15% APR for a 72-month loan. (a) What will be your monthly payment if the payment is made at the end of each month from the day you buy the car? (b) What will be your monthly payment if you tell the dealer that you will not make any down payment, but you will make your payments at the...
You are going to buy a new car worth $23,800. The dealer computes your monthly payment...
You are going to buy a new car worth $23,800. The dealer computes your monthly payment to be $510.45 for 60 months of financing. What is the dealer's effective rate of return on this loan transaction? The dealer's effective rate of return is %. (Round to one decimal place.)
You are going to buy a new car worth $23,800. The dealer computes your monthly payment...
You are going to buy a new car worth $23,800. The dealer computes your monthly payment to be $519.55 for 60 months of financing. What is the dealer's effective rate of return on this loan transaction? The dealer's effective rate of return is %. (Round to one decimal place.)
You are going to buy a new car worth $23,900. The dealer computes your monthly payment...
You are going to buy a new car worth $23,900. The dealer computes your monthly payment to be $522.55 for 60 months of financing. What is the dealer's effective rate of return on this loan transaction? The dealer's effective rate of return is%. (Round to one decimal place.)
Question 40 (1 point) Saved You wish to buy a $45,000 car. The dealer offers you...
Question 40 (1 point) Saved You wish to buy a $45,000 car. The dealer offers you a 6-year loan with an 2.5 percent APR. What are the monthly payments? (Critical Thinking) $272.19 $473.59 $405.53 $673.69
You want to buy a new sports car from Muscle Motors for $43,000. The contract is...
You want to buy a new sports car from Muscle Motors for $43,000. The contract is in the form of an annuity due for 48 months at an APR of 6.25 percent. What will your monthly payment be?
You want to buy a new sports car from Muscle Motors for $58,000. The contract is...
You want to buy a new sports car from Muscle Motors for $58,000. The contract is in the form of an annuity due for 36 months at an APR of 8.25 percent. What will your monthly payment be?
You want to buy a new sports car from Muscle Motors for $45,000. The contract is...
You want to buy a new sports car from Muscle Motors for $45,000. The contract is in the form of a 48-month annuity due at a 8.75 percent APR. What will your monthly payment be?
Problem #5: You want to buy a car that costs $21,000. The dealer wants a 10% down payment and quotes a 15% APR for a 72-month loan. (a) What will be your monthly payment if the payment is made at the end of each month from the day you buy the car? (b) What will be your monthly payment if you tell the dealer that you will not make any down payment, but you will make your payments at the...
You are going to buy a new car worth $23,800. The dealer computes your monthly payment to be $510.45 for 60 months of financing. What is the dealer's effective rate of return on this loan transaction? The dealer's effective rate of return is %. (Round to one decimal place.)
You are going to buy a new car worth $23,800. The dealer computes your monthly payment to be $519.55 for 60 months of financing. What is the dealer's effective rate of return on this loan transaction? The dealer's effective rate of return is %. (Round to one decimal place.)
You are going to buy a new car worth $23,900. The dealer computes your monthly payment to be $522.55 for 60 months of financing. What is the dealer's effective rate of return on this loan transaction? The dealer's effective rate of return is%. (Round to one decimal place.)
Question 40 (1 point) Saved You wish to buy a $45,000 car. The dealer offers you a 6-year loan with an 2.5 percent APR. What are the monthly payments? (Critical Thinking) $272.19 $473.59 $405.53 $673.69
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