Find the monthly payments on a 3-year lease for a $26,467 car if the car's residual value is $17,194 and the lease has an annual interest rate of 3.9%.
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- An installment contract for the purchase of a car requires payments of $202.94 at the end of each month for 3.5 years. Interest is 8 % per annum compounded monthly. (a) What is the amount financed? (b) How much is the interest cost?i will 10 upvotes urgent. Find the monthly payments on a 3-year lease for a $27,051 car if the car depreciates at an annual rate of 11% and the lease has an annual interest rate of 4.1%. Round your answer to the nearest dollar.An installment contract for the purchase of a car requires payments of $311.25 at the end of each month for 5 years. Interest is 4% per annum compounded monthly. (a) What is the amount financed? (b) How much is the interest cost?
- You are preparing a loan amortization table for a 1-year loan of $1000 with a monthly interest rate of 1%. What is your principal payment in month 3 of the amortization schedule?A leasing contract calls for an immediate payment of $101,000 and nine subsequent $101,000 semiannual payments at six-month intervals. What is the PV of these payments if the annual discount rate is 9%? (Hint: First find the semiannual rate that is equivalent to the annual rate.)What is the present value of a 7 - year lease with monthly rental payments of $4, 200 due at the beginning of each month, if the opportunity cost of capital is 9% ?
- What monthly lease payment due in advance should be charged for a tract of land valued at $39,000 if the agreed interest is 7.33% compounded annually? The monthly lease payment shouid be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)A leasing contract calls for an immediate payment of $108,000 and nine subsequent $108,000 semiannual payments at six-month intervals. What is the PV of these payments if the annual discount rate is 12%? (Hint: First find the semiannual rate that is equivalent to the annual rate.) Note: Do not round intermediate calculations. Round your answer to 2 decimal places.A fully amortizing mortgage is made for $112,000 at 6.5 percent interest. Required: If the monthly payments are $1,060 per month, when will the loan be repaid? (Round up your answer to the nearest whole number)
- calculate the mortgage payment for a home mortgage price costing $ 280,000. Calculate the payment and amortization schedule for 30 years fixed rate of 8%. What are the first four payment?A fully amortizing mortgage loan in the amount of $100,000 is made at 12 percent interest for 20 years. Payments are to be monthly. If 3 points are deducted in closing costs, what is the effective interest rate for the loan?Consider a 30-year, 8.5% loan for $130,000 with fixed monthly payments. Construct an amortization schedule for the following payment numbers: 1, 24, 60, 120, 180, 240 and 360.
