Q3: Mike decide to take the mortgage loan to buy a house with total price of...
Q3: Mike decide to take the mortgage loan to buy a house with total price of $200,000.He made 50,000 for down payment. He decided to pay back the money every quarter in the equal amount. What should be his equal quarterly payment be over the next 20 years if the annual interest rate is 7%?
- Q4: You want to buy a car, and a bank will lend you $30,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 5%, with interest paid monthly. What is the monthly loan payment? What is the loan's EFF%?
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Q3: Mike decide to take the mortgage loan to buy a house with total price of...
Q3: Mike decides to take the mortgage loan to buy a house with total price of...
Q3: Mike decides to take the mortgage loan to buy a house with total price of $200,000.He made 50,000 for down payment. He decided to pay back the money every quarter in the equal amount. What should be his equal quarterly payment be over the next 20 years if the annual interest rate is 7%?
Q4: You want to buy a car, and a bank will lend you $30,000. The loan...
Q4: You want to buy a car, and a bank will lend you $30,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 5%, with interest paid monthly. What is the monthly loan payment? What is the loan's EFF%?
Q4: You want to buy a car, and a bank will lend you $30,000. The loan...
Q4: You want to buy a car, and a bank will lend you $30,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 5%, with interest paid monthly. What is the monthly loan payment? What is the loan's EFF%?
You want to buy a car, and a local bank will lend you $25,000. The loan...
You want to buy a car, and a local bank will lend you $25,000. The loan would be fully amortized over 4 years (48 months), and the nominal interest rate would be 6%, with interest paid monthly. What is the monthly loan payment? Round your answer to the nearest cent. What is the loan's EFF%? Round your answer to two decimal places.
ou want to buy a car, and a local bank will lend you $25,000. The loan...
ou want to buy a car, and a local bank will lend you $25,000. The loan would be fully amortized over 5 years (60 months), and the nominal interest rate would be 9%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the loan's EFF%? Do not round intermediate calculations. Round your answer to two decimal places. %
ou want to buy a car, and a local bank will lend you $10,000. The loan...
ou want to buy a car, and a local bank will lend you $10,000. The loan would be fully amortized over 5 years (60 months), and the nominal interest rate would be 15%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the loan's EFF%? Do not round intermediate calculations. Round your answer to two decimal places. %
You want to buy a car, and a local bank will lend you $15,000. The loan...
You want to buy a car, and a local bank will lend you $15,000. The loan would be fully amortized over 4 years (48 months), and the nominal interest rate would be 15%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the loan's EFF%? Do not round intermediate calculations. Round your answer to two decimal places. %
You want to buy a car, and a local bank will lend you $15,000. The loan...
You want to buy a car, and a local bank will lend you $15,000. The loan would be fully amortized over 4 years (48 months), and the nominal interest rate would be 15%, with interest paid monthly. 1A) What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. 1B) What is the loan's EFF%? Do not round intermediate calculations. Round your answer to two decimal places.
You want to buy a house, and a local bank will lend you $100,000. The loan...
You want to buy a house, and a local bank will lend you $100,000. The loan will be fully amortized over 20 years, and the nominal interest rate will be 12% with interest paid monthly. What will be the monthly loan payment?
Annuity Payment and EAR You want to buy a car, and a local bank will lend...
Annuity Payment and EAR You want to buy a car, and a local bank will lend you $35,000. The loan would be fully amortized over 5 years (60 months), and the nominal interest rate would be 10% with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the loan's EFF%? Round your answer to two decimal places. %
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