Addie wants to buy a car that is available at two dealerships. The price of the car is the same at both dealerships. Sams Motors would let her make quarterly payments of $7,500.00 for 6 years at a quarterlyinterest rate of 4.24 percent. Her first payment to Sams Motors would be due immediately. If Bolden Cars would let her make equal monthly payments of $3,500.00 at a monthly interest rate of 1.56 percentand if her first payment to Bolden Cars would be in 1 month, then how many monthly payments would Addie need to make to Bolden Cars?17.90 (plus or minus 0.3 payments)O 47.21 (plus or minus 0.3 payments)46.15 (plus or minus 0.3 payments)17.58 (plus or minus 0.3 payments)17.63 (plus or minus 0.3 payments)

Present Value refers to the current value of the loan or mortgage amount if paid all at once on the…

Addie wants to buy a car that interest rate of 4.24 percent. and if her first payment to Bc O 17.90 (plus or minus 0.3 p O 47.21 (plus or minus 0.3 p 46.15 (plus or minus 0.3 p O 17.58 (plus or minus 0.3 p O 17.63 (plus or minus 0.3 p COO

Addie wants to buy a car that interest rate of 4.24 percent. and if her first payment to Bc O 17.90 (plus or minus 0.3 p O 47.21 (plus or minus 0.3 p 46.15 (plus or minus 0.3 p O 17.58 (plus or minus 0.3 p O 17.63 (plus or minus 0.3 p COO

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

Problem 1PS

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1. Lilibeth borrowed $1,200 from her aunt to buy a book. She promised to pay her after a month. Her aunt agreed, but she asked Lilibeth to pay her back the amount of $1,350. How much interest will she pay? What is the rate of interest she will pay?
3. Ruth Brown wants to borrow $2,600 for 90 days to pay her real estate tax. State Savings and Loan charges 7.25% ordinary interest while Security Bank charges 7.5% exact interest 3a. What is the maturity value of each loan? 3b. Where should they borrow the money? 4. You have a chance to lend $6,500 at 5.25% interest for 95 days 4a. If you charge ordinary interest, how much will you earn? 4b. If you charge exact interest, how much will you earn? 4c. If you were borrowing the money, would you prefer to pay ordinary interest or exact interest? Why?
Evaluate the Debt Safety Ratio using worksheet 6.1: By listing Chloe’s outstanding debts, and then calculate her debt safety Given her current take-home pay, what is the maximum amount of monthly debt payments that Chloe can have if she wants her debt safety ratio to be 12.5 percent? Given her current monthly debt payment load, what would Chloe’s take-home pay have to be if she wanted a 12.5 percent debt safety ratio? Chloe Young is evaluating her debt safety ratio. Her monthly take- home pay is $3,320. Each month, she pays $380 for an auto loan, $120 on a personal line of credit, $60 on a department store charge card, and $85 on her bank credit card.
If Sam can afford payments at $390 per month for 6years. what is the price of a car that she can afford now? Assume an interest rate of 6.6 percent.
Jatapra
Jamie earned $14 in interest on her savings account last year. She has decided to leave the $14 in her account so that she can earn interest on the $14 this year The interest earned on last year's interest earnings is called: Multiple Choice simple interest. complex interest. accrued interest interest on interest. discounted interest
Why are common sized financial statements useful? How do they differ from traditional financial statements in the way that they are calculated?
REFLECTING Should Jill consider a payday loan to purchase the refrigerator? Explain. Hint APR means annual percent rate. 2. Jill is buying a new refrigerator. She cannot afford to pay cash. Should she use a credit card or get a personal loan? Justify your answer. 3. Liam, a taxi driver in Revelstoke, wants to buy a new taxi. He was approved for the loans in this chart. a) What should Liam think about when he chooses a loan? should Choose the Lost Fixed APR payments for 4 Apprenticeship and Workplace 11 secured personal 5.5% loan auto loan 7.5% b) Which loan should Liam choose? Explain why. 4 yr 6 yr 4. Hannah says that using payday loans and cash advances on credit cards are bad choices for borrowing money. Do you agree or disagree? Explain. NEL
Ciana wants to take out a $7,500 loan with a 5.3% APR. She can afford to pay $128 per month for loan payments. 22. What should be the length of her loan? Round to the nearest tenth of a year.a. 5.5 yearsb. 5.6 yearsc. 5.7 yearsd. 5.8 years 23. How would an increase of $20 to her monthly payment affect the length of her loan?a. 0.9 years moreb. 0.9 years lessc. 0.8 years lessd. 0.8 years more
Alien Jackson has $2,000 on her credit card which charges a 23% interest rate. If she wants to pay off the credit card in 4 years, how much will she need to pay each month (assuming she don't charge anything new to the card)?
Alexei finances her purchase of a $900 television. Her one-year loan has a fixed annual interest rate of 2.5%. Which equation correctly calculates Alexei's monthly payment? 12.0.025 М — -12-1 900 1-(1+ ) 0.025 900-0.025 M -12.1 12 12 1- (1+ 0.025 900.0.025 M = -12-1 0.025 12 1-(1+ 12 12.0.025 M -12.1 900 1- 12 1+ 0.025

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