ABLE 14.2an amortization table (monthly payment per $1,000 to pay principal and interest on installment loan)Terms inmonths61218243036424854607.50%$170.3486.7658.9245.0036.6631.1127.1524.1821.8820.048.00%$ 170.5886.9959.1545.2336.8931.3427.3824.4222.1220.288.50%$ 170.8387.2259.3745.4637.1231.5727.6224.6522.3620.529.00%$ 171.2087.4659.6045.6937.3531.8027.8524.7722.5920.7610.00%$ 171.5687.9260.0646.1437.8132.2728.3225.3623.0721.2510.50%$171.8188.1560.2946.3838.0432.5028.5525.6023.3221.4911.00%$ 172.0588.3860.5246.6138.2832.7428.7925.8523.5621.7411.50%$172.3088.6260.7546.8438.5132.9829.0326.0923.8121.9912.00%$ 172.5588.8560.9847.0738.7533.2129.2826.3324.0622.2412.50%$ 172.8089.0861.2147.3138.9833.4529.5226.5824.3122.5013.00%$ 173.0489.3261.4547.5439.2233.6929.7626.8324.5622.7513.50%$ 173.2989.5561.6847.7839.4633.9430.0127.0824.8123.0114.00%$ 173.5489.7961.9248.0139.7034.1830.2527.3325.0623.2714.50%$ 173.7990.0262.1548.2539.9434.4230.5027.5825.3223.53 Before purchasing a used car, Cody Lind checked www.kbb.com to learn what he should offer for the used car he wanted to buy. Thenhe conducted a carfax.com search on the car he found to see if the car had ever been in an accident. The Carfax was clean so hepurchased the used car for $14,750. He put $2,000 down and financed the rest with a 48-month, 7.5% loan. What is his monthly carpayment by table lookup? (Use Table 14.2)Note: Do not round intermediate calculations. Round your answer to the nearest cent.Monthly payment

Whenever loan is taken , Interest payments and principal payments are required to be made . loan…

Answered: Before purchasing a used car, Cody Lind…

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

See similar textbooks

Similar questions

Franki finances a motor home for $44,700 by taking out an installment loan for 36 months. The payments were $1,774.31 per month and the total finance charge was $19,175.16. After 25 months, Franki decided to pay off the loan. After calculating the finance charge rebate, find the loan payoff amount.
Before purchasing a used car, Cody Lind checked www.kbb.com to learn what he should offer for the used car he wanted to buy. Then he conducted a carfax.com search on the car he found to see if the car had ever been in an accident. The Carfax was clean so he purchased the used car for $15,300. He put $1,900 down and financed the rest with a 48-month, 8.0% loan. What is his monthly car payment by table lookup? (Use Table 14.2
John has 50/250/25 car insurance. Last week he caused a car accident that damaged the following:: Al's car = $2000 damage Bob's car = $6000 damage Charlie's car = $5000 damage Telephone pole = $4000 damage Guard rail = $5000 damage Based on John's insurance, how much will the insurance company have to pay for the damage?
Marisol finances a sports car for $27,700 by taking out an installment loan for 36 months. The payments were $998.61 per month and the total finance charge was $8,249.96. After 21 months, Marisol decided to pay off the loan. After calculating the finance charge rebate, find her loan payoff amount.
Big Sean is buying a new truck from Willie’s Auto Sales, the dealer is providing the financing and he uses the discount method. If borrows $40,000 at 9% for 48 months, how much is his monthly payment?
CNBC reported that one in five consumers who purchase bitcoin do so using their credit card. Melissa Gamez purchased a used RV with 19,300 miles for $47,200. Originally the RV sold for $71,500 with a residual value of $20,300. After subtracting the residual value, depreciation allowance per mile was $0.89. How much was Melissa's purchase price over or below the book value? Note: Input the amount as positive value. Purchase price was the book value by Does she have any equity that might assist her with purchasing bitcoin? Yes No
While jogging around his suburb one morning, Pedro sees a speedboat parked outside a house. There is a sign posted on the boat’s windshield saying: “For sale $9,000, Text Andres on 0409876543. Direct buyers only!” A boat lover, Pedro calls the number advertised and leaves a voice message saying that he’s happy to buy the boat for $7,000. He also leaves his return number. Andres is busy all day, and only hears Pedro’s message the next morning. He calls Pedro back; he also leaves a voice message saying that Pedro’s price is too low, but he can get the boat for $8,000. That same day, however, another buyer sees the boat and makes a $9,000 cash offer to Andres on the spot. Andres takes the money, signs over the boat’s registration papers, and the buyer tows the boat away. Pedro passes by Andres’ house and sees that boat is gone. Panicking, he listens to his voice messages and hears Andres’ message for the first time. He calls Andres right away and told him in no uncertain words that he…
Please answer all parts of the question
Sam decided to start a printing company called, Sam Printing Inc. This company was his dream joband he saved up $30 000 to start the company therefore he didn’t need a loan from the bank. Samdid his first job for $300 to customer Mike. Mike paid him $200 and the rest on account. Sam wasrunning out of supplies so he had to buy pens, notebooks, paper etc for $500. He decided that heshould pay his rent for $200 and gas for $100. Sam was getting really busy and needed to buy acomputer. He paid $500 for an Acer laptop on account. He received a call from Mike who told himshe sent him the money he owed him. Sam is doing really well and decided to buy another store tocontinue his printing business. The store costs $5000. He needed a loan from the bank to purchasethis store. After receiving the loan he decided to pay off the Acer laptop. Use the template below:Prepare an income statement for Sam Printing Inc. using the following information to see ifhe is profiting or loosing?
CNBC reported that one in five consumers who purchase bitcoin do so using their credit card. Melissa Gamez purchased a used RV with 20,000 miles for $47,900. Originally the RV sold for $75,000 with a residual value of $21,000. After subtracting the residual value, depreciation allowance per mile was $0.96. How much was Melissa’s purchase price was over or below the below the book value? Note: Input the amount as a positive value. Purchase Price was: The book value by:
Hank has a $30,000.00 GIC which is locked in for the next 2 months at which time he can access his money. Today he was offered the opportunity to purchase his friends antique Harley Davidson motorcycle for $20,000.00 providing he can pay for it in the next few days or his friends is going to sell it on Kjiji. Hank really wants the motorcycle and has approached Everyday Bank about a loan noting that he can only afford a very small payment. What product would best meet Hank’s needs? a. A personal line of credit for $20,000.00 b. An interest only demand koan for $20,000.00 c. A fixed repayment Loan for $20,000.000 with a variable interest rate and fixed monthly payments. d. An Everyday Bank MasterCard with a limit of $20,000.00
Gerry likes driving small cars and buys nearly identical ones whenever the old one needs replacing. Typically, he trades in his old car for a new one costing about $15,000. A new car warranty covers all repair costs above standard maintenance (standard maintenance costs are constant over the life of the car) for the first two years. After that, his records show an average repair expense (over standard maintenance) of $2500 in the third year (at the end of the year), increasing by 50 percent per year thereafter. If a 30 percent declining-balance depreciation rate is used to estimate salvage values and interest is 9 percent, how often should Gerry get a new car? Click the icon to view the table of compound interest factors for discrete compounding periods when i = 9%. Gerry should get a new car every years, which has the (Round to the nearest whole number as needed.) EAC of $

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS