a. A car dealer offers payments of $499 per month for 72 months on a $39,000 purchase of a car, but you put down a $3,000 downpayment. What is the loan's APR? 11.98% b. 6.58% C. 9.00% d. 7.84%
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- A car dealer offers payments of $325 per month for 72 months on a $32,000 purchase of a car, but you put down a $2,000 downpayment. What is the loan's APR? a. b. d. 11.98% 7.72% 9.00% 7.84%What is the effective annual interest rate on the loan? Car purchased for $29,000 with a 5 year loan with an annual interest rate of 9% with monthly payments of $601.99. A. .0075% B. .75% C. 9.381% D. 11.5% E. None of the aboveA car dealership offers car loan for purchasing a type of truck. The interest on the loan is i12) = 1.5%. The loan is paid back by monthly level payment of 1243.40 each for 3 years with the first payment one month after the loan is made. 1. Find the loan L. 2. Find the amount of interest in the 20th payment, and fill out the following table Payments PR OB 19 20 21 Enter the loan amount Lin the following blank. Keep two decimal places.
- 16) A car loan for $33,550 has an interest rate of 5.25% and is amortized over 60 months. What is the monthly payment on the loan? a. $ 425.78 b. $679.92 17) c. $636.98 d. $351.24 Using the same facts as #16, what is the balance of the loan after 3 full years of payments? a $ 14,482 b. $ 8,299.28 c. Zero. d $15,942A $31,000 new car loan is taken out with the terms 3% APR for 48 months. How much are monthly payments on this loan? A. $892.01 B. $754.78 C. $823.40 D. 686.16 Please use BA II where applicable.A5. URGENT PLEASE Determine the monthly payment that must be made, as well as the financial run, to acquire a Nissan March car on credit. List Price: $238,900 Down payment: $11,945 Amount to be financed: $226,955 Monthly payment: Annual interest rate r%; 14.65% Monthly interest rate i%; 1.22% Number of periods; 72 months.
- 1. Consider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using the average balance method). b. How much would you pay in total for interest?A lender engages in a 15-day $1,000,000 reverse repo at a rate of 2.50%. The haircut is 2%. The current market value of the loan is $980,000. What rate of return did the lender earn on annualized basis? Use 360-day for annualization. A $1,000.42 B $810.63 C $466.86 D $880.37a. If you take out an $7,900 car loan that calls for 60 monthly payments starting after 1 month at an APR of 12%, what is your monthly payment? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Monthly payment b. What is the effective annual interest rate on the loan? (Do not round intermediate calculations. Round your answer to2 decimal places.) Effective annual interest rate %24
- For the car loan described, give the following information. A car dealer will sell you a used car for $6,598 with $798 down and payments of $167.51 per month for 48 months. amount to be paid$ ? amount of interest$ ?Interest rate (Round your answer to two decimal places.) % ?APR (rounded to the nearest tenth of a percent) % ?Use the loan amortization table: Purchase price of a used car $5,533, Down payment $1,153, number of monthly payments 48, Amount financed $4,380, Total of monthly payments $5,589.76, Total finance charge $1,209.76, APR 13%. What is the monthly payment by table? What is the monthly payment by formula?You take out a consumer loan at your credit union for new insulated windows for your house. The total installed cost is $8,900 of which you pay 16% down. The balance is to be paid in 48 equal monthly payments with a finance charge equal to 6.8% add-on interest on the outstanding balance. Find the monthly payment. OA S255,14 O B. S171.39 OC. 5198.11 O D. $211.27 QUESTION 7 Find the minimum cash investment for a FHA loan on a home in a low closing cost state costing $107,450 with closing costs of $650. OA $2960,18 OB. 53712.32 ০s3223.50 OD.53175.07