Answered: C5: Nathaniel wants to buy a Toyota…

C5: Nathaniel wants to buy a Toyota Prius Limited. It will cost $32,200. The loan will be 60 months at 4.93%. How much will his payments be per month? $606.62 $707.73 $808.84 $505.51

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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Concept explainers

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.

Question

C5: Nathaniel wants to buy a Toyota Prius Limited. It will cost $32,200. The loan
will be 60 months at 4.93%. How much will his payments be per month?
$606.62
$707.73
$808.84
$505.51

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Your bank is offering to finance your new car purchase for 7 years at 14.95%. If you were to borrow $27,000 for the car, what would your payment be? $489 $520 $425 $460 $469
For 4 – 7. Georgina wanted to borrow P125,000. If the bank offers her 6.5% annual simple interest rate and give her 3 years to repay the amount. 4. What is P125,000 in the given problem? A. Payment 5. How much interest will she pay? A. P2,708.33 6. How much will she pay after 3 years? A. P152,083.33 B. P149,375.00 7. If Georgina wanted to repay her debt for only 1 year, how much must she repay B. Principal C. Future Value D. Interest B. P14,625.00 C. P24,375.00 D. P27,083.33 C. P139,625.00 D. P127,708.33 then? A. P8,125.00 B. P16,250.00 C. P133,125.00 D. P141,125.00
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A. You borrowed $10,000 from a bank to invest in IT & Mobile technology with payback the loan in graduated payment plan. If your first payment is $1,000 at the end of first year and i=10% over 5 years. Note: (P/G, 10%, 5) = 6.86 %3D ?What is the G payment $561 $628 $730 $905 Find the total earned interest by the ?bank at the end of period $7,055 $6,100 $5,085 $4,560
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