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9. Alice needs to take out a loan for $44,695, with an APR of 6.8%. She can only afford to pay $350 a month? Her goal is to pay back the loan in 18 years. Will it be possible for Alice to pay back the loan in th?

9. Alice needs to take out a loan for $44,695, with an APR of 6.8%. She can only afford to pay $350 a month? Her goal is to pay back the loan in 18 years. Will it be possible for Alice to pay back the loan in th?

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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i really need help with number 9 i have no idea where to start or where to end

93-9 rost 7. Amanda is taking a $16.655, five and a half year car loan, with an APR of 4.45%. How much will Amanda pay in interest? 12.15.1 ·04/45) (1 + M = 16,655 (0 (1+-0445 9. Summary 8. Use the credit card statement summary below to determine what Ari's available credit is if he has a $20,000.00 credit line? Transactions ) 12.512 1 - = 1669-05 (12 months) (S. 2 years) = 104148 • 867 16653 Previous Balance $6.234.38 Payments /Credits $250.00 Financo Charge $234.23 20,000.00 -6,234.38 +250-20 = 1395.62 52100 12 ab $12.328.47 21 Late Charge $20.00 MON 5.23 Balance ما Alice needs to take out a loan for $44,695, with an APR of 6.8%. She can only afford to pay $350 a month? Her goal is to pay back the loan in 18 years. Will it be possible for Alice to pay back the loan in 18 years if she pays $350 a month? S 2493. EL Minimum Payment $200.00 10. The finance charge on Andrew's credit card bill last month was $13.50. His APR is 18%. What was his average daily balance? 18)
Transcribed Image Text:93-9 rost 7. Amanda is taking a $16.655, five and a half year car loan, with an APR of 4.45%. How much will Amanda pay in interest? 12.15.1 ·04/45) (1 + M = 16,655 (0 (1+-0445 9. Summary 8. Use the credit card statement summary below to determine what Ari's available credit is if he has a $20,000.00 credit line? Transactions ) 12.512 1 - = 1669-05 (12 months) (S. 2 years) = 104148 • 867 16653 Previous Balance $6.234.38 Payments /Credits $250.00 Financo Charge $234.23 20,000.00 -6,234.38 +250-20 = 1395.62 52100 12 ab $12.328.47 21 Late Charge $20.00 MON 5.23 Balance ما Alice needs to take out a loan for $44,695, with an APR of 6.8%. She can only afford to pay $350 a month? Her goal is to pay back the loan in 18 years. Will it be possible for Alice to pay back the loan in 18 years if she pays $350 a month? S 2493. EL Minimum Payment $200.00 10. The finance charge on Andrew's credit card bill last month was $13.50. His APR is 18%. What was his average daily balance? 18)
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