Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,300. Her loan requires a 25% down payment and equal monthly payments of $283.00 for 60 months. Calculate the total deferred payment price (in $)
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Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,300. Her loan requires a 25% down payment and equal monthly payments of $283.00 for 60 months. Calculate the total deferred payment price (in $).
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- Carlee takes out an installment loan to finance the purchase of a pickup truck costing $34,250. Her loan requires a 33.33% down payment and equal monthly payments of $892 for 28 months. Calculate the total deferred payment price.Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,100. Her loan requires a 25% down payment and equal monthly payments of $289.00 for 60 months. Calculate the total deferred payment price (in $). $ Need Help? Read It Watch It Master ItKarolyn takes out an installment loan to finance the purchase of a violin costing $18,750. Her loan requires a 10.625% down payment and equal monthly payments of $365 for 48 months. Calculate the total deferred payment price.
- Jill Walsh purchases a bedroom set for a cash price of $3,920. The down payment is $392, and the monthly installment payment is $176 for 24 months. Find the amount financed the finance charge The deferred payment price. What will be the APR for this auto loan?Grandin wishes to take out an installment loan to finance the purchase of a small antique dining set costing $75,500. Her loan requires a 22.5% down payment and equal payments of $2,567 for 40 months. What is the amount of the finance charge on this loan? $40,880.64$42,995.27 $44,167.50$45,650.00Jenna bought a new car for $28,000. She paid a 20% down payment and financed the remaining balance for 36 months with an APR of 3.5%. Assuming she makes monthly payments, determine the total interest Jenna pays over the life of the loan. Round your answer to the nearest cent, if necessary.
- Carissa wishes to borrow $280,000. Lender A qualifies her for a rate of 4.59% over a 30-year term, and Lender B will give her 3.2% for a 20-year loan. Excluding taxes, insurance and all other charges, find the 3. amount of the loan payment for each. Round your answer to the nearest whole dollar.Mayesha purchased a large screen TV for $4,000 and can pay it off in ten months with an add-on interest loan at an annual rate of 11.5%, or she can use her credit card that has an annual rate of 18%. If she uses her credit card, she will pay $400 per month (starting next month) plus the finance charges for the month. Assume that her credit card company uses the unpaid balance method to compute her finance charges and that she is making no other transactions on her credit card. Which option will have the smaller total finance charges on her loan? What is the general method that should be used to solve this problem? A. Use the formula l= Prt to find the finance charge for both the add-on and the credit card option. Choose the option that produces the lower number. O B. Multiply the cost of the TV set by the annual rate to find the finance charge for both the add-on and the credit card option. Choose the option that produces the higher number. O C. Use the formula l= Prt to find the…Jessica plans, to purchase a new work truck. The dealer requires a 20% down payment on the $45,000 vehicle. Jessica will finance the rest of the cost with a fixed rate amortized auto loan of 5.5% annual interest with monthly payments over 6 years. find the required down payment find the amount of the auto loan find the monthly payment.
- Boyd purchases a snow blower costing $1,752 by taking out a 13.5% add on installment loan. Loan requires a 35% down payment and equal monthly payments for 2 years. How much is the finance charge on this loan?Peggy made a down payment of $400 toward the purchase of new furniture. To pay the balance of the purchase price, she has secured a loan from her bank at 6%/year compounded monthly. Under the terms of her finance agreement, she is required to make payments of $75.32 at the end of each month for 24 months. What was the purchase price of the furnitureGrandin wishes to take out an installment loan to finance the purchase of a small antique dining set costing $79,500. Her loan requires a 22.5% down payment and equal payments of $2,577 for 40 months. What is the amount of the finance charge on this loan? a. $38,180.64 b. $40,295.27 c .$41,467.50 d. $42,950.00