You are borrowing $18,800 to buy a car. The terms of the loan call for monthly payments for five years at 4.25 percent interest. What is the amount of each payment?
A. |
$391.40 |
|
B. |
$313.33 |
|
C. |
$348.36 |
|
D. |
$402.19 |
|
E. |
$444.64 |
You are borrowing $18,800 to buy a car. The terms of the loan call for monthly...
You are borrowing $5,340 to buy a car. The terms of the loan call for monthly payments for 4 years at a 5.50 percent interest compounded monthly. What is the amount of each payment? $99.16 $99.71 $125.64 O $127.82 O $124.19
You are borrowing $5,390 to buy a car. The terms of the loan call for monthly payments for 4 years at a 4.50 percent interest compounded monthly. What is the amount of each payment? O $102.70 O $129.40 $102.15 O $122.91 O $131.67
You are borrowing $20,000 to buy a car. The terms of the loan call for quarterly payments for 5 years. You know that interest is compounded quarterly and that the effective annual rate is 15%. What is the amount of each payment?
You are looking to buy a car. You can afford $730 in monthly payments for five years. In addition to the loan, you can make a $830 down payment. If interest rates are 10.00 percent APR, what price of car can you afford (loan plus down payment)? (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Present value To borrow $3,700, you are offered an add-on interest loan at 9.3 percent with 12 monthly payments....
A commercial bank will loan you $47,497 for 8 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 10.16 percent of the unpaid balance. What is the amount of the monthly payments?
A commercial bank will loan you $27,817 for 3 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 13.32 percent of the unpaid balance. What is the amount of the monthly payments? Round the answer to two decimal places.
A commercial bank will loan you $33,732 for 4 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 7.29 percent of the unpaid balance. What is the amount of the monthly payments? Round the answer to two decimal places.
A commercial bank will loan you $40,283 for 6 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 4.81 percent of the unpaid balance. What is the amount of the monthly payments? Round the answer to two decimal places.
A commercial bank will loan you $50,753 for 3 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 6.46 percent of the unpaid balance. What is the amount of the monthly payments? Round the answer to two decimal places.
A commercial bank will loan you $17,500 for two years to buy a car. The loan must be repaid in 24 equal monthly payments. The annual interest rate on the loan is 6% of the unpaid balance. The amount of the monthly payments is $775.61. What is the loan balance after 18 months? A)8,915.70 B) $4,653.66 C) $4,573.29 D) 4,375.00