Exam practice

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You are purchasing a new car for $27,600. The dealership offers you three options: • 0% financing: 0 down and 0% financing for 48 months. • Rebate: 0 down. If you choose the rebate, you will need to secure a loan for the balance at your local bank. • Down payment: Make a down payment of 5% or more and get financing at 1.5% compounded monthly for 48 months:

Sly's Used Cars just sold you a clunker (you need it to get to class on time). You financed the $4,728.48 purchase price for 24 months. They said your payment would be $250. What interest rate did they charge you ( assume monthly compounding )?

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You want to purchase an automobile for $24,726. The dealer offers you 0% financing for 48 months or a $3,549 rebate. You can obtain 5.7% financing for 48 months at the local bank. Which option should you choose? How much money will you save per month?

You can afford a $500.00 per month car payment. You can get a loan at 8% interest for 4 years.A. How expensive of a car can you afford? I can afford a car that costs $_________. B. How much total money will you pay the loan company? The total of all my payments will be $_______ . C. How much of that money is interest? The amount of that money that is interest will be $_______

You recently graduated from Miami University and are looking to purchase a new vehicle. The car costs $21,000. The bank quotes you an interest rate of 15 percent APR for a 72-month loan with a 10 percent down payment. What will your monthly payment be? $375.27 $2,835.12 $399.64 $3,150.13 $444.05

You are purchasing a new car for $27,600.  The dealership offers you three options: 0% financing: 0 down and 0% financing for 48 months. Rebate: 0 down.  If you choose the rebate, you will need to secure a loan for the balance at your local bank. Down payment: Make a down payment of 5% or more and get financing at 1.5% compounded monthly for 48 months.   What is your monthly payment if you choose 0% financing for 48 months?  $                     .  Round to the nearest dollar.   The rebate offer is $4800, and you can obtain a car loan at your local bank for the balance at 5.16% compounded monthly for 48 months.  If you choose the rebate, what is your monthly payment?  $                     .  Round to the nearest dollar.   You want to make monthly payments of $403, but you don't want a car loan over your head for more than 48 months,  so you decide to go with the down payment option.  How much of a down payment do you need to make?  $                     .  Round to the nearest…

Typing only

Someone offers an investment opportunity that will pay you $725 at the end of each year for the next 17 years. How much would you be willing to purchase that investment for if you need a 10% annual return on you money? O $3,664.49 $5,815.63 $143.44 O $29.394.91

1.    For the best terms on a loan or credit card, you need a credit score above 700. To achieve this, start establishing credit now. Pay all of your bills on time. In addition, use only one-third of your available credit limit and pay off your revolving balance(s) each month.  Abby has excellent credit. She wants to purchase a piece of equipment for her business and was offered 6% for 60 months for the $61,000 unit. What is her monthly payment by add-on method? (Round your answer to the nearest cent.)   Monthly payment    $

You are purchasing a new car for $27,600. The dealership offers you three options: 0% financing: 0 down and 0% financing for 48 months. Rebate: 0 down. If you choose the rebate, you will need to secure a loan for the balance at your local bank. Down payment: Make a down payment of 5% or more and get financing at 1.5% compounded monthly for 48 months: Use this information for the questions below.   Use the Buying a Car information above to answer this question. You want to make monthly payments of $449, but you don't want a car loan over your head for more than 48 months, so you decide to go with the down payment option. How much of a down payment do you need to make? $_____ . Round to the nearest dollar

Someone needs to borrow ​$13,000 to buy a car and the person has determined that monthly payments of ​$250 are affordable. The bank offers a 4​-year loan at 8​% ​APR, a ​5-year loan at 8.5​%, or a 6​-year loan at ​9% APR. Which loan best meets the​ person's needs? Explain. Question content area bottom Part 1 Which loan best meets the​ person's needs? ​(Round to the nearest cent as​ needed.) A. The third loan best meets the​ person's needs because the monthly payment of ​$    enter your response here is less than the maximum budgeted amount of ​$ per month. B. The first loan best meets the​ person's needs because the monthly payment of ​$    enter your response

Find the attached file.

39. You want to purchase an automobile for $27,300. The dealer offers you 0% financing for 60 months or a $5,000 rebate. You can obtain 6.3% financing for 60 months at the local bank. Which option should you choose? Explain.

A friend of yours bought a new sports car with a $4,500 down payment plus a $27,000 car loan that is financed at an interest rate of 0.75% per month for 60 months. a. Calculate the required monthly loan payment on the car. b. How much does your friend still owe on the car loan immediately after she makes the 24th monthly payment? c. If, after the 24th payment, she decides to pay $100 more each month, how many months will it take her to payoff the remaining loan she owes? a. The required monthly payment is (Round to the nearest cent.) b. Your friend still owes $on the car loan. (Round to the nearest dollar.) c. It will take her months (Round-up to the nearest month)

Chad purchased a new Toyota 4-runner for $32,500. He put a $5,000 down payment and financed the remaining amount. The loan on his truck is for 60 months and has a finance charge of $6,000. What is the APR on the loan? (Round to the tenth of a percent) 6.9% 8.0% 0.3% 7.5% Click the answer you think is right.

Please correct answer and don't use hand raiting

not use ai please

A car dealer will sell you a used car for $6798 with $798 down and payments of $162.51 per month for 47 month for 48 months. What is the simple interest rate ?

A few years down the road you have moved out, buying your own home. You decide to take another look at your finances. Your outstanding loan of $275 per month only has 8 payments left on it (out of the original 60) with an interest rate of 11.75%.   a. What is the finance charge “f”?   b. What is the unearned interest “u”?   c. How much would it cost to pay it off on payment #53?

Alisha is buying a car for $26,000. She has $1,800 for a down payment She plans to borrow the remainder at a 3.2% annual rate for 5 years. How much are her monthly car payments? $442.87 $437.00 $469.50 O$475.47 $425.38 Previous Page Next Page Page 9 of 30 Submit Quiz O of 30 questions saved

Teagan wants to buy a new jacuzzi. The jacuzzi costs $1850. Teagan decides to finance the jacuzzi for 24 months at an APR of 13.5%. Determine Teagan's monthly payment. Round your answer to the nearest cent, if necessary. Formulas 中 Answer(How to Enter) Кеурad Number of Fixed Payments Required to Pay Off Credit Card Debt Keyboard Shortcuts -log 1 PMT R 3= log( 1 + Monthly Payment Formula for Fixed Installment Loans (P.) PMT Maximum Purchase Price 1+ Prev maximum purchase price PMT Next

Eddie Craft is offered credit terms of 2/10 net 40 by his suppliers. Eddie, however, usually pays in 30 days. He is now considering borrowing money from his bank in order to take advantage of the cash discount being offered. His bank is willing to lend him $20,000 for 180 days by way of a discounted loan with an interest. cost of $1,800. Required: Advise Eddie Craft on what he should do giving your reason.

You borrow $10,000 to buy a car. You agree to pay $207.58. If your APR is 9%, how many years will it take for you to pay off the loan? Select one: a. 5 years b. 4.5 years C. 4 years d. 3.5 years e. 2.5 years Check

James wants to buy a gaming computer priced at $3,774, but he is not able to pay the amount in full.   The shop, though, offers purchase plans to help customers afford their products.   The annual interest rates on offer are below. Simple interest will be calculated on each loan.   Payment Period Interest Rate 12 months 14.8% 24 months 11.6%   How much will the shop earn in interest? (Answers to whole dollars)  What is the total amount that James will pay for the computer? If the repayments are split evenly over the year, how much will James pay per month?