Dr. Dennis Natali plans to take advantage of a 0% interest balance transfer credit card offer to pay off a $7,250 loan he has. If his loanis at 7.5% interest for 12 months, what is his payment? How much will he save in interest? (Use Table 14.2)Note: Do not round intermediate calculations. Round your final answers to the nearest cent.PaymentSavings in interest

Here,Loan amount = $7,250Interest rate = 7.5%Number of payments = 12 monthsPayment per $1,000 at…

Answered: Dr. Dennis Natali plans to take…

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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For the car loan described, give the following information. A car dealer will sell you the $30,350 car of your dreams for $6,000 down and payments of $669.06 per month for 60 months. (a) amount to be paid $ (b) amount of interest $ (c) interest rate (Round your answer to two decimal places.) % (d) APR (rounded to the nearest tenth of a percent)
Please help me please get the correct answer in text
Kelly O’Brien met Jody Jansen at Sunshine Bank and suggested she consider a loan on exact interest. Recalculate the loan for Jody under this assumption. Jody Jansen went to Sunshine Bank on: 9/12/2020 She borrowed: $ 2,300.00 Her interest rate was: 0.09 Date the money borrowed is due: 1/27/2021 Previous interest was: 78.78 Required: Complete the following using the information above and exact interest: How many days is Jody Jansen borrowing this money for? Assume the loan is on exact interest. What interest will Jody owe on January 27? What is the total amount Jody must repay at maturity How much would she save in interest?
A small business owner visits his bank to ask for a loan. The owner states that he can repay a loan at $3,100 per month for the next three years and then $2,100 per month for two years after that. If the bank is charging customers 10.00 percent APR, how much would it be willing to lend the business owner? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
A borrower has two alternatives for a loan: (1) issue a $570,000, 90-day, 7% note or (2) issue a $570,000, 90-day note that the creditor discounts at 7%. Assume a 360-day year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet a. Compute the amount of the interest expense for each option. Round your answer to the nearest dollar. for each alternative. b. Determine the proceeds received by the borrower in each situation. Round your answers to the nearest dollar. (1) $570,000, 90-day, 7% interest-bearing note: $ (2) $570,000, 90-day note discounted at 7%: $ c. Alternative is more favorable to the borrower because the borrower
You want to borrow $59,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,100 but no more. Assuming monthly compounding, what is the hughest rate you can afford on a 66- Training month APR loan? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places
Give only typing answer with explanation and conclusion Tim Houston purchased a wall unit for $2,400. He made a $600 down payment and financed the balance with an installment loan for 48 months. If Tim's payments are $43.50 per month, use the APR formula to calculate what annual percentage rate he is paying on the loan. (Round your answer to two decimal places.)
Suppose you want to have $600,000 for retirement in 25 years. Your account earns 4% interest. How muc would you need to deposit in the account each month? Submit Question /course/showcalendar.php?cid=179278 Search
You wish to buy a $9,700 dining room set. The furniture store offers you a 2-year loan with an APR of 9 percent. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Pay it back Credit is a payday loan company that offers quick, short term loans using the borrower's future paychecks as collateral. Pay it back Credit charges $28 for each $100 loaned for a term of 21 days. Find the APR charged by Pay it back. Round your answer to the nearest hundredth of a percent.
Match the following credit terms with the correct description. APR [Choose ] [Choose ] Known as the Annual Percentage Rate. Some credit cards charge these. They can be charged for membership and you may be required to pay them once a year. Credit cards that offer these give you cash or points for purchases you make. Occurs when you don't pay your monthly payment on time. These occur when you transfer your balance to a different card. When you move an existing balance to another credit card or account. The least amount of money you are obligated to pay back on a monthly basis to avoid fees and penalties. [Choose ] [Choose ] [Choose ] [Choose ] Fees Rewards Finance Charges Late fees Balance Transfer Minimum payment

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