Question

answer those 4 please Fatima just borrowed 83,364 dollars. She plans to repay this loan by...

answer those 4 please

Fatima just borrowed 83,364 dollars. She plans to repay this loan by making a special payment of 29,387 dollars in 7 years and by making regular annual payments of 13,147 dollars per year until the loan is paid off. If the interest rate on the loan is 17.93 percent per year and she makes her first regular annual payment of 13,147 dollars immediately, then how many regular annual payments of 13,147 dollars must Fatima make? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).

Allysha just borrowed 46,600 dollars. She plans to repay this loan by making a special payment of 7,100 dollars in 4 years and by making regular annual payments of 6,500 dollars per year until the loan is paid off. If the interest rate on the loan is 8.78 percent per year and she makes her first regular annual payment of 6,500 dollars in one year, then how many regular annual payments of 6,500 dollars must Allysha make? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).

Brenna wants to buy a car that is available at two dealerships. The price of the car is the same at both dealerships. Best Buggies would let her make quarterly payments of $2,250 for 5 years at a quarterly interest rate of 3.82 percent. Her first payment to Best Buggies would be due immediately. If California Cars would let her make equal monthly payments of $920 at a monthly interest rate of 1.35 percent and if her first payment to California Cars would be in 1 month, then how many monthly payments would Brenna need to make to California Cars?  Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).

Aldo wants to borrow $12,000 from the bank and is choosing among two possible loans. The interest rate on both loans is 1.4 percent per month. Loan A would require him to make 60 equal monthly payments, with the first payment made to the bank in 1 month. Loan B would also require him to make equal monthly payments to the bank. However, 1) the monthly payment associated with loan B would be $30 less than the monthly payment associated with loan A, and 2) the first monthly payment for loan B would be made to the bank later today. How many monthly payments to the bank must be made with loan B? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).

0 0
Add a comment Improve this question Transcribed image text
Know the answer?
Add Answer to:
answer those 4 please Fatima just borrowed 83,364 dollars. She plans to repay this loan by...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Omar just took out a loan from the bank for 142,894 dollars. He plans to repay...

    Omar just took out a loan from the bank for 142,894 dollars. He plans to repay this loan by making a special payment to the bank of 26,888 dollars in 3 months and by also making equal, regular monthly payments of X. If the interest rate on the loan is 0.8 percent per month, he makes his first regular monthly payment later today, and he makes his last regular monthly payment made in 7 months from today, then what is...

  • Jens just took out a loan from the bank for 59,516 dollars. He plans to repay...

    Jens just took out a loan from the bank for 59,516 dollars. He plans to repay this loan by making a special payment to the bank of 5,460 dollars in 3 years and by also making equal, regular annual payments of X for 7 years. If the interest rate on the loan is 11.84 percent per year and he makes his first regular annual payment in 1 year, then what is X, Jens’s regular annual payment?

  • Celeste just borrowed 36,800 dollars. She plans to repay this loan by making equal quarterly payments...

    Celeste just borrowed 36,800 dollars. She plans to repay this loan by making equal quarterly payments of 2,894.03 dollars for 14 quarters. If she makes her first quarterly payment later today, then what is the quarterly interest rate on the loan? Answer as a rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098.

  • Celeste just borrowed 39,000 dollars. She plans to repay this loan by making equal quarterly payments...

    Celeste just borrowed 39,000 dollars. She plans to repay this loan by making equal quarterly payments of 2,546.48 dollars for 17 quarters. If she makes her first quarterly payment later today, then what is the quarterly interest rate on the loan? Answer as a rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098. Please show your work

  • Quantum Pizza took out a loan from the bank today for 22,700 dollars. The loan requires...

    Quantum Pizza took out a loan from the bank today for 22,700 dollars. The loan requires Quantum Pizza to make a special payment of 13,800 dollars to the bank in 5 years and also make regular, fixed payments of X to the bank each year forever. The interest rate on the loan is 4.3 percent per year and the first regular, fixed annual payment of X will be made to the bank in 1 year. What is X, the amount...

  • Quantum Pizza took out a loan from the bank today for 21,000 dollars. The loan requires...

    Quantum Pizza took out a loan from the bank today for 21,000 dollars. The loan requires Quantum Pizza to make a special payment of 13,700 dollars to the bank in 5 years and also make regular, fixed payments of X to the bank each year forever. The interest rate on the loan is 7.86 percent per year and the first regular, fixed annual payment of X will be made to the bank in 1 year. What is X, the amount...

  • Dominic borrows 7200 dollars today, and agrees to repay the loan by making annual interest payments...

    Dominic borrows 7200 dollars today, and agrees to repay the loan by making annual interest payments to the lender, and by also accumulating a sinking fund with increasing annual deposits to repay the principal. The interest rate on the loan is 8.8 percent, and the interest paid on the sinking fund is 6.7 percent, both effective. If the loan is to be settled 15 years from now, and the sinking fund deposits increase by 7 dollars per year, what is...

  • An investment, which is worth 30,300 dollars and has an expected return of 7.42 percent, is...

    An investment, which is worth 30,300 dollars and has an expected return of 7.42 percent, is expected to pay fixed annual cash flows forever with the next annual cash flow expected in 1 year. What is the present value of the annual cash flow that is expected in 7 years from today? Quantum Pizza took out a loan from the bank today for 24,500 dollars. The loan requires Quantum Pizza to make a special payment of 13,500 dollars to the...

  • James wants to take out a loan. He can afford to make monthly payments of 100...

    James wants to take out a loan. He can afford to make monthly payments of 100 dollars and wants to pay the loan off after exactly 30 years. What is the maximum amount that James can afford to borrow if the bank charges interest at an annual rate of 8 percent, compounded monthly? (Give your answer, in dollars, correct to the nearest dollar.) Nicola borrows 60000 dollars from a bank that charges interest at an annual rate of 10 percent,...

  • Mary Jo wants to buy a boat that is available at two dealerships. The price of...

    Mary Jo wants to buy a boat that is available at two dealerships. The price of the boat is the same at both dealerships. Middlefield Motors would let her make quarterly payments of 3,657.97 dollars for 12 years at a quarterly interest rate of 3.18 percent. Her first payment to Middlefield Motors would be due immediately. If Fairfax Boats would let her make equal monthly payments of 3,027.97 for 3 years and if her first payment to Fairfax Boats would...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT