Calculate the APR of a loan for $10,025, including loan fees of $310, at 11% for 6 years. (Do not round intermediate calculations.Round your answer to the nearest tenth percent.)APRIf you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount fromyour checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehneis going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 6% APR and thefollowing transactions? (Round your answer to the nearest cent.)31-day billing cycle10/1 Previous balance10/3 Credit10/12 Charge: King Soopers10/15 Payment10/25 Charge: Delta10/30 Charge: Holiday Fun$1,158$ 85 cr.142250 cr.31555Answer is not complete.Amount owedCalculate (a) the amount financed, (b) the total finance charge, and (c) APR by formula. (Do not round intermediate calculations.Round the "Finance charge" to the nearest cent and "APR" to the nearest tenth percent.)Purchase price of aused carNumber of monthlypaymentsAmountfinancedDown paymentTotal of monthlyTotal financechargeAPRpayments5,833 $1,3034,530 S485,889.76 S1,359.76

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Calculate the APR of a loan for $10,025, including loan fees of $310, at 11% for 6 years. (Do not round intermediate calculations. Round your answer to the nearest tenth percent.) APR

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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Assume that you take out a $3000 loan for 47 months at 6.5% APR. How much total interest will you have paid at the end of the 47 months? (Round your answer to the nearest cent.) $ 3631.12
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A $23,430 loan is to be settled by making payments of $6,743 at the end of every six months. The interest is 6.25% compounded semi-annually. a) Find the number of payments in the term. N = b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Enter a positive value for all answers. Payment Number 0 1 2 3 4 Payment Amount($) PMT tA Interest Portion Principal Portion Loan Balance ($) ($) INT ($) PRN BAL LA LA $ $ $ $ $ $23,430
Consider a student loan of $25,000 at a fixed APR of 12% for 20 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
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