Cali loans $2,000 to Arturo to buy a car. Cali wants to be paid 8% annual interest, and she wants the loan repaid in nine months. What is the total amount Arturo will have to pay Cali in nine months?
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- Megan takes out a car loan for $13,000. She intends to make monthly payments for 5 years to pay off her loan. If the bank charges her an annual interest rate of 4.2% computed monthly on the loan balance, how much will her monthly payments be?Every two weeks, Betty makes a $210 payment toward a car loan whose annual rate is 4.8%. If she will be debt - free in 5 - years, how much interest will she pay on this loan?Skylar bought a $270,000.00 house, paying 10% down, and financing the rest at 3% interest for 15 years. A. What is the monthly payment? Skylar has a payment of a month $________. B. How much interest will be paid over the life of the loan? Skylar will pay $_______ in interest over the life of the loan.
- Patty purchases a $240,000 house. She pays $40,000 down and takes out a 25 year mortgage with monthly payments, at an interest rate of 12% interest compounded monthly. How much money will Patty have to pay each month?Luis is expected to settle a loan by paying $5,500. What amount should she pay if she decides to settle the loan seven months earlier? The interest rate is 3.25% compounded monthly.Rebecca Carlson purchases a car for $25,000 and finances her purchase by borrowing the money at 8% per year compounded monthly; she pays off the loan with equal monthly payments for 5 years. What will be the size of her monthly loan payment?
- Jane took out a loan from the bank today for X. She plans to repay this loan by making payments of $520.00 per month for a certain amount of time. If the interest rate on the loan is 1.12 percent per month, she makes her first $520.00 payment later today, and she makes her final monthly payment of $520.00 in 7 months, then what is X, the amount of the loan? O An amount less than $3,501.00 or an anmount greater than $4,238.00 O An amount equal to or greater than $3,501.00 but less than $3,739.00 O An amount equal to or greater than $3,739.00 but less than $3,980.00 O An amount equal to or greater than $3,980.00 but less than $4,081.00 O An amount equal to or greater than $4,081.00 but less than $4,238.00Patty purchases a $190,000 house. She pays $50,000 down and takes out a 15-year mortgage with monthly payments, at an interest rate of 12% Interest. Find Patty's monthly payment. Patty will have to pay $ each month. (Round to the nearest cent as needed.)Maria wants to attend Clarke University. She will need $90,000 eight years from today. Assume Maria's bank pays 6% interest compounded semiannually. What must Maria deposit today to have $90,000 in eight years? verify your answer.
- Jeanette took out a loan from the bank today for X. She plans to repay this loan by making payments of $100.00 per month for a certain amount of time. If the interest rate on the loan is 0.66 percent per month, she makes her first $100.00 payment later today, and she makes her final monthly payment of $100.00 in 12 months, then what is X, the amount of the loan? A O An amount less than $1,153.00 or an anmount greater than $1,324.00 O An amount equal to or greater than $1,153.00 but less than $1,199.00 O An amount equal to or greater than $1,199.00 but less than $1,245.00 O An amount equal to or greater than $1,245.00 but less than $1,275.00 O An amount equal to or greater than $1,275.00 but less than $1,324.00Emma bought a $360,000.00 house, paying 10% down, and financing the rest at 2% interest for 20 years. A. What is the monthly payment? Emma has a payment of __?__a month. How much interest will be paid over the life of the loan? Emma will pay __?__ in interest over the life of the loan.Jenna 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.
