Calculate the finance charge: Sofa purchase price Down Payment Number of monthly payments Amount of monthly...
Calculate the finance charge:
Sofa purchase price Down Payment Number
of monthly payments Amount of monthly payments
$1,600 $400 12 $190
Homework Answers
Finance charge=Number of monthly payments*Amount of monthly
payments-(Sofa purchase price-Down
payment)=12*190-(1600-400)=1080
Add Answer to:
Calculate the finance charge:
Sofa purchase price Down Payment Number
of monthly payments Amount of monthly...
Calculate the amount financed, the finance charge, and the total deferred payment price for the following...
Calculate the amount financed, the finance charge, and the total deferred payment price for the following installment loan. Round your answers to the nearest cent. Purchase (Cash) Down Payment Monthly Payment Number of Payments Finance Deferred Payment Price Finance Charge 53.100 154 $258.00
U Cash Down Amount Number of Amount of Finance APR Price Payment Financed Payments Payment Charge...
U Cash Down Amount Number of Amount of Finance APR Price Payment Financed Payments Payment Charge $6000 $3000 $3000 12 $260 $ % (Finance charge per $100 of amount financed) Number of payments 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 12 3.00 3.28 3.56 3.83 4.11 4.39 4.66 18 4.41 4.82 5.22 5.63 6.04 6.45 6.86 48 11.63 12.73 13.83 14.94 16.06 17.18 18.31 55 tu The finance charge is $ Use the APR table to find the APR. Gra...
Suves et Check Complete the following table: Purchase price of product Landcruiser Down payment Amount financed...
Suves et Check Complete the following table: Purchase price of product Landcruiser Down payment Amount financed Number of monthly payments Amount of monthly payments Total of monthly payments Total finance charge 85,000 $ 60,000
Complete the following tables Purchase price of product Porsche Macan turbo Down payment Amount financed Number...
Complete the following tables Purchase price of product Porsche Macan turbo Down payment Amount financed Number of monthly payments amount of monthly payment Total of monthly payments Total Finance 66,900 S 50,000 72 S
Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by formula (Do...
Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by formula (Do not round intermediate calculations. Round the "Finance charge to the nearest cent and "APR" to the nearest tenth percent.) Amount financed Purchase price of a used car Down payment Number of monthly payments 5,893 $ 1,333 Total finance charge APR Total of monthly payments 5,949.76
Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by formula. (Do...
Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by formula. (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent and "APR" to the nearest tenth percent.) Answer is complete but not entirely correct. Total of monthly Purchase price of a used car Down Number of Amount Total finance APR monthly payments рayment financed charge payments 17.7 % $ $ 1,173 5,573 48 4,400 5,629.76 1,229.76
Purchase Price $33,500.00 Finance Rate Table less Term No Rebate Rebate Down Payment $3,500.00 1...
Purchase Price $33,500.00 Finance Rate Table less Term No Rebate Rebate Down Payment $3,500.00 1 12.50% 19.70% Trade-in Value $4,500.00 2 14.90% 20.90% Rebate $1,000.00 3 17.30% 22.10% 4 18.50% 23.30% Loan Amount $24,500.00 5 19.70% 24.50% --------------------Term of Loan----------------------- 1 2 3 4 5 Finance Rate 19.70% 20.90% 22.10% 23.30% 24.50% Monthly Payment $2,266.03 $1,257.75 $936.93 $789.29 $711.94 Total Payment $27,192.35 $30,185.89 $33,729.63 $37,886.09 $42,716.61 Finance Charge $2,692.35 $5,685.89 $9,229.63 $13,386.09 $18,216.61 Please answer the following...
Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price...
Estimate the affordable monthly mortgage payment, the affordable
mortgage amount, and the affordable home purchase price for the
following situation. (Refer to Exhibit 9-8 and Exhibit 9-9) (Round
time value factor to 2 decimal places, intermediate and final
answers to the nearest whole number.)
Monthly gross income
$
3,450
Down payment to be made (percent of purchase price)
20
Percent
Other debt (monthly payment)
$
220
Monthly estimate for property taxes and insurance
$
280
30-year loan
7.0
Percent
Affordable...
Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price...
Estimate the affordable monthly mortgage payment, the affordable
mortgage amount, and the affordable home purchase price for the
following situation. (Refer to Exhibit 9-8 and Exhibit 9-9)
(Round time value factor to 2 decimal places, intermediate
and final answers to the nearest whole dollar.)
Monthly gross income
$
4,700
Down payment to be made (percent of purchase
price)
20
percent
Other debt (monthly payment)
$
260
Monthly estimate for property taxes and
insurance
$
490
30-year loan
8.5...
The purchase price of a car is $60,000. Mr. Posey makes a down payment of $30,000...
The purchase price of a car is $60,000. Mr. Posey makes a down payment of $30,000 and borrows the balance from a bank at 6% APR interest, compounded monthly, for 5 years. Calculate the nearest value of the required monthly payments to pay off the loan a) $ 400 b) 580 c) $600 d) $1,160
Calculate the amount financed, the finance charge, and the total deferred payment price for the following installment loan. Round your answers to the nearest cent. Purchase (Cash) Down Payment Monthly Payment Number of Payments Finance Deferred Payment Price Finance Charge 53.100 154 $258.00
U Cash Down Amount Number of Amount of Finance APR Price Payment Financed Payments Payment Charge $6000 $3000 $3000 12 $260 $ % (Finance charge per $100 of amount financed) Number of payments 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 12 3.00 3.28 3.56 3.83 4.11 4.39 4.66 18 4.41 4.82 5.22 5.63 6.04 6.45 6.86 48 11.63 12.73 13.83 14.94 16.06 17.18 18.31 55 tu The finance charge is $ Use the APR table to find the APR. Gra...
Suves et Check Complete the following table: Purchase price of product Landcruiser Down payment Amount financed Number of monthly payments Amount of monthly payments Total of monthly payments Total finance charge 85,000 $ 60,000
Complete the following tables Purchase price of product Porsche Macan turbo Down payment Amount financed Number of monthly payments amount of monthly payment Total of monthly payments Total Finance 66,900 S 50,000 72 S
Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by formula (Do not round intermediate calculations. Round the "Finance charge to the nearest cent and "APR" to the nearest tenth percent.) Amount financed Purchase price of a used car Down payment Number of monthly payments 5,893 $ 1,333 Total finance charge APR Total of monthly payments 5,949.76
Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by formula. (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent and "APR" to the nearest tenth percent.) Answer is complete but not entirely correct. Total of monthly Purchase price of a used car Down Number of Amount Total finance APR monthly payments рayment financed charge payments 17.7 % $ $ 1,173 5,573 48 4,400 5,629.76 1,229.76
Estimate the affordable monthly mortgage payment, the affordable
mortgage amount, and the affordable home purchase price for the
following situation. (Refer to Exhibit 9-8 and Exhibit 9-9) (Round
time value factor to 2 decimal places, intermediate and final
answers to the nearest whole number.)
Monthly gross income
$
3,450
Down payment to be made (percent of purchase price)
20
Percent
Other debt (monthly payment)
$
220
Monthly estimate for property taxes and insurance
$
280
30-year loan
7.0
Percent
Affordable...
Estimate the affordable monthly mortgage payment, the affordable
mortgage amount, and the affordable home purchase price for the
following situation. (Refer to Exhibit 9-8 and Exhibit 9-9)
(Round time value factor to 2 decimal places, intermediate
and final answers to the nearest whole dollar.)
Monthly gross income
$
4,700
Down payment to be made (percent of purchase
price)
20
percent
Other debt (monthly payment)
$
260
Monthly estimate for property taxes and
insurance
$
490
30-year loan
8.5...
The purchase price of a car is $60,000. Mr. Posey makes a down payment of $30,000 and borrows the balance from a bank at 6% APR interest, compounded monthly, for 5 years. Calculate the nearest value of the required monthly payments to pay off the loan a) $ 400 b) 580 c) $600 d) $1,160
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