Mike bought a truck 4 years ago. The truck cost $63,000 and was financed for 72 months at 1.2% interest. Mike just made his 48th payment and wants to pay off the truck. How much is Mike's loan pay off>
$21,505.83
$37,729.01
$42,000.00
$42,501.51
Mike bought a truck 4 years ago. The truck cost $63,000 and was financed for 72...
When Maria Acosta bought a car 2 and a half years ago, she borrowed $11,000 for 48 months at 6.6% compounded monthly. Her monthly payments are $261.37, but she'd like to pay off the loan early. How much will she owe just after her payment at the 2 and a half year mark? (Round your answer to the nearest cent.)
Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the rest, with the agreement to pay nothing for the entire first year and then to pay $556.83 at the end of each month over years 2, 3, and 4 (first payment is in 13th month). a. What nominal interest rate is Aerotron paying on the loan? b. What effective interest rate are they paying? c. How much of the 14th...
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.
When Maria Acosta bought a car 2 1/2 years ago, she borrowed $12,000 for 48 months at 6.6% compounded monthly. Her monthly payments are $285.13, but she'd like to pay off the loan early. How much will she owe just after her payment at the 2 1/2-year mark? (Round your answer to the nearest cent.)
Stumble Bum and his wife, Alex, just bought a new home and financed the purchase with $350,000 30-year fixed-rate loan at 4%. If they take 30 years to pay off the loan, what will be the lifetime interest they will pay? Note: solve with financial calculator. A. $756,000 B. $601,500 C. $350,000 D. $251,543
Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the rest, with the agreement to pay nothing for the entire first year and then to pay $576.83 at the end of each month over years 2, 3, and 4 (first payment is in 13th month). a. What nominal interest rate is Aerotron paying on the loan? % b. What effective interest rate are they paying? % Round your answer to...
section/7473/assignment/14090 Manded Question 9 of 13 Lush Gardens bought a new truck for $74,000. It paid $9,000 as a down payment and financed the balance at 4.50% compounded monthly. If the company makes payments of $1,575 at the end of every month, how long will it take to pay off the loan? 0 year(s) + month(s) Round up to the next payment period. Give your answer in years and months. Next Question
4. -/1 points HarMathAp 126.5.015.MI. My Notes Ask Your Teacher When Maria Acosta bought a car 2 years ago, she borrowed $17,000 for 48 months at 7.8% compounded monthly. Her monthly payments are $413.43, but she'd like to pay off the loan early. How much will she owe just after her payment at the 2 year mark? (Round your answer to the nearest cont.) Need Help? Master T alk to a Tutor lo s Your Teacher
Lush Gardens bought a new truck for $73,000. It paid $8,000 as a down payment and financed the balance at 5.00% compounded monthly. If the company makes payments of $1,625 at the end of every month, how long will it take to pay off the loan?
suppose that 10 years ago you bought a home for 120,000, paying 10% as a down payment, and financing the rest at 9% interest for 30 years. this year (10 years after you first took at the loan) you check your loan balance. only part of your payments have been going to pay fown the loan; the rest has been going towards interest. you see that you still have 96,584 left to pay on your loan. your house is now...