Interest Rate | 8.000% |
Total of 48 Monthly Payments | $24,256.80 |
Total Interest Paid | $3,556.80 |
can you show the steps in detail please 28. Bill borrows $20,700 to buy a car...
Please include how to input into finance calculator. 1) Derek borrows $267,226.00 to buy a house. He has a 30-year mortgage with a rate of 4.72%. (A) What is the monthly mortgage payment? (B) how much does he owe on the mortgage after making 89.00 payments? 2) If he borrows $35,341.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 5.52%. After a 15.00 months Derek decides to pay...
Derek borrows $35,692.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 5.45%. After a 13.00 months Derek decides to pay off his car loan. How much must he give the bank?
Derek borrows $32,107.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 6.26%. After a 13.00 months Derek decides to pay off his car loan. How much must he give the bank?
L0,dvalde aller 2 years! Ppose Mary borrows $4800 to buy a car. If Mary is to pay an annual interes compounded monthly on the unpaid balance, "Pay an annual interest rate of 12% hat should Mary's monthly payment be if she wants to repay the loan in 30 m b. how much total interest does Mary pay if she is able to repay the loan in 36 mor
Can you please explain the steps in detail. Also, what type of problem this is and how to recognize them! An engineering student wants to buy a low mile 2003 Subaru WRX for $7,000. Instead of paying for the car in full immediately, the student would like to make monthly payments over one year. At a 1296 annual interest rate what would be the amount of the monthly payment? a) $369 b) $582 C) $622 2) N:nnnn
You want to buy a car that will cost $33,100. You have $2,750 cash as a down payment. You will finance the remainder of the cost through a loan that will require equal monthly payments of principal and 6.75% APR interest over five years Compute the amount of the monthly loan payment that you will need to make. Rate Nper PMT PV FV туре Prepare a loan amortization schedule using the format presented below. Use the amortization schedule to answer...
Amortization Table. You wish to buy a $40,000 car. The bank can finance you with a 3-year loan at a 4 percent APR. If you make a $7,000 down payment on the purchase. What are the monthly payments on your loan? How much will you pay in interest each year? Show the amortization table (use monthly payments).
You want to buy a car that will cost $33, 100. You have $2,750 cash as a down payment. You will finance the remainder of the cost through a loan that will require equal monthly payments of principal and 6.75% APR interest over five years. Compute the amount of the monthly loan payment that you will need to make. Rate 6.75% Nper PMT PV FV Type Prepare a loan amortization schedule using the format presented below. Use the amortization schedule...
Joe borrows $14 000 to buy a motorcycle at 14.4%/a compounded monthly for 9/2 years. After 2 years, Joe gets a year-end bonus and makes a one-time payment of $5000 against the outstanding balance of the loan. How much earlier can he pay off the loan because of this payment?
WUSUI Rei Finance Charges. Bill wants to purchase a new car for $50,000. Bill has no savings, so he needs to finance the entire purchase amount. With no down payment, the interest rate on the loan is 8% and the maturity of the loan is six years. His monthly payments will be $876.66. Bill's monthly net cash flows are $686. Bill also has a credit card with a $9,365 limit and an interest rate of 12%. If Bill uses all...