The Shelby Cobra retails for $28,801 (all taxes included). What are the monthly loan payments for...
The Shelby Cobra retails for $28,801 (all taxes included). What are the monthly loan payments for the car if you make a down payment of $4,749, the term is 3 years and the APR is 14%? (Car loan payments are made at the end of each month.)
What is the amount of the monthly payment?
(Type a number to the nearest cent.)
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The Shelby Cobra retails for $28,801 (all taxes included).
What are the monthly loan payments for...
T.... 1 of 10 (0 complete) ▸ ... The Shelby Cobra retails for $47,684 (all taxes included). What are the monthly...
T.... 1 of 10 (0 complete) ▸ ... The Shelby Cobra retails for $47,684 (all taxes included). What are the monthly loan payments for the car if you make a down payment of $4,001, the term is 5 years and the APR is 6.5%? (Car loan payments are made at the end of each month.) What is the amount of the monthly payment? Type a number to the nearest cent.) T... < 2 of 10 (0 complete) v ▸ ......
Homework: Unit 7 Lab Assignment Save HW Score: 0%, 0 of 40 pts Score: 0 of...
Homework: Unit 7 Lab Assignment Save HW Score: 0%, 0 of 40 pts Score: 0 of 4 pts 2 of 10 (0 complete) Question Help Problem 4.LO4.14 You are considering the purchase of a BMW MS. You will borrow the money from BMW Financial Services. The terms of the deal are outlined below: BMW MS RWD, 500hp, 0-100 in 4.7s MSRP $110,000 Term 48 months APR 8% Down Payment-So Monthly Payments $2,685.42 The amortized loan payments are a blend of...
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
Monthly loan payments Personal Finance Problem Tim Smith is shopping for a used luxury car. He...
Monthly loan payments Personal Finance Problem Tim Smith is shopping for a used luxury car. He has found one priced at $39,000. The dealer has told Tim that if he can come up with a down payment of $5,900, the dealer will finance the balance of the price at a 5% annual rate over 5 years (60 months). (Hint: Use four decimal places for the monthly interest rate in all your calculations.) a. Assuming that Tim accepts the dealer's offer,...
When Gustavo and Serrana bought their home, they had a 5.9% loan with monthly payments of...
When Gustavo and Serrana bought their home, they had a 5.9% loan with monthly payments of $870.60 for 30 years. After making 78 monthly payments, they plan to refinance for an amount that includes an additional $35,000 to remodel their kitchen. They can refinance at 4.8% compounded monthly for 25 years with refinancing costs of $625 included with the amount refinanced. (a) Find the amount refinanced. (Round your answer to the nearest cent.) $ 167661.87 Correct: Your answer is correct....
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $170 comma 000 loan. Option 1: a 30-year loan at an APR of 7%. Option 2: a 15-year loan at an APR of 6.5%. Find the monthly payment for each option. The monthly payment for option 1 is $ nothing. The monthly payment for option 2 is $ nothing....
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $50,000 loan. Option 1: a 30-year loan at an APR of 7.65%. Option 2: a 15-year loan at an APR of 7.25%. Find the monthly payment for each option. The monthly payment for option 1 is $ The monthly payment for option 2 is $ (Do not round until...
Compare the monthly payments and total loan costs for the following pairs of loan optiones. Assume...
Compare the monthly payments and total loan costs for the following pairs of loan optiones. Assume that both loanes are fixed rate and have the same cloning co You need a $90,000 loan. Option 1: a 30year loan at an APR of 560%. Option 2, a 15-year loan at an APR of 5253%. Find the monthly payment for each option The monthly payment for option 1 is The monthly payment for option 2 is $ (Do not round until the...
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%...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $180,000 loan. Option 1: a 30-year loan at an APR of 8.5% Option 2 a 15-year loan at an APR of 8%. Find the monthly payment for each option. The monthly payment for option 1 is $ 1,384.04 The monthly payment for option 2 is $ 1,720.17 (Do not...
T.... 1 of 10 (0 complete) ▸ ... The Shelby Cobra retails for $47,684 (all taxes included). What are the monthly loan payments for the car if you make a down payment of $4,001, the term is 5 years and the APR is 6.5%? (Car loan payments are made at the end of each month.) What is the amount of the monthly payment? Type a number to the nearest cent.) T... < 2 of 10 (0 complete) v ▸ ......
Homework: Unit 7 Lab Assignment Save HW Score: 0%, 0 of 40 pts Score: 0 of 4 pts 2 of 10 (0 complete) Question Help Problem 4.LO4.14 You are considering the purchase of a BMW MS. You will borrow the money from BMW Financial Services. The terms of the deal are outlined below: BMW MS RWD, 500hp, 0-100 in 4.7s MSRP $110,000 Term 48 months APR 8% Down Payment-So Monthly Payments $2,685.42 The amortized loan payments are a blend of...
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
Monthly loan payments Personal Finance Problem Tim Smith is shopping for a used luxury car. He has found one priced at $39,000. The dealer has told Tim that if he can come up with a down payment of $5,900, the dealer will finance the balance of the price at a 5% annual rate over 5 years (60 months). (Hint: Use four decimal places for the monthly interest rate in all your calculations.) a. Assuming that Tim accepts the dealer's offer,...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $50,000 loan. Option 1: a 30-year loan at an APR of 7.65%. Option 2: a 15-year loan at an APR of 7.25%. Find the monthly payment for each option. The monthly payment for option 1 is $ The monthly payment for option 2 is $ (Do not round until...
Compare the monthly payments and total loan costs for the following pairs of loan optiones. Assume that both loanes are fixed rate and have the same cloning co You need a $90,000 loan. Option 1: a 30year loan at an APR of 560%. Option 2, a 15-year loan at an APR of 5253%. Find the monthly payment for each option The monthly payment for option 1 is The monthly payment for option 2 is $ (Do not round until the...
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%...
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $180,000 loan. Option 1: a 30-year loan at an APR of 8.5% Option 2 a 15-year loan at an APR of 8%. Find the monthly payment for each option. The monthly payment for option 1 is $ 1,384.04 The monthly payment for option 2 is $ 1,720.17 (Do not...
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