For the car loan described, give the following information.A car dealer will sell you a used car for $6,698 with $798 down and payments of $161.51 per month for 48 months.(a) amount to be paid$(b) amount of interest$(c) interest rate (Round your answer to two decimal places.)(d) APR (rounded to the nearest tenth of a percent)%Need Help?Read It

Loan is a contract between lender and borrower where lender provide funds to borrower for finite…

For the car loan described, give the following information. A car dealer will sell you a used car for $6,698 with $798 down and payments of $161.51 per month for 48 months. (a) amount to be paid 2$ (b) amount of interest 2$ (c) interest rate (Round your answer to two decimal places.) % (d) APR (rounded to the nearest tenth of a percent) Need Help? Read It

For the car loan described, give the following information. A car dealer will sell you a used car for $6,698 with $798 down and payments of $161.51 per month for 48 months. (a) amount to be paid 2$ (b) amount of interest 2$ (c) interest rate (Round your answer to two decimal places.) % (d) APR (rounded to the nearest tenth of a percent) Need Help? Read It

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 newspaper advertisement offers a $4,000 used car for nothing down and 36 easy monthly payments of $156.62. (a) amount to be paid 24 (b) amount of interest $ (c) interest rate (Round your answer to two decimal places.) % (d) APR (rounded to the nearest tenth of a percent)
You just bought a new TV for $2,559.72 on your credit card; assume no other purchases The APR is 18% and monthly payments. What is your monthly payment if you seek to pay off the balance at the end of 5 years from now? Round to the nearest whole number and use the $ symbol ($98 would be the form of a correct answer)
You can buy a car for $6,998 with $798 down and payments of $164.51 each month for 48 months. what's the amount of interest, interest rate (rounded to two decimal places) and the APR (rounded to the nearest 10th of a percent)
A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $1, 100 per month for the next three years and then $2, 200 per month for two years after that. If the bank is charging customers 7.75 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.)
For the Questions 3-5 assume you want to finance (borrow) $12,000 for your next car and your interest rate will be 6%. 3. What will be your monthly payment and the total amount paid over the life of the loan if you finance for 48 months? Provide the car payment and the TVM inputs you used to calculate the payment. Рayment Total of all payments PV FV RATE/INTEREST PERIODS/N (See next page for Questions 4 and 5)
A borrower has two alternatives for a loan: (1) issue a $630,000, 75-day, 6% note or (2) issue a $630,000, 75-day note that the creditor discounts at 6%. 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) $630,000, 75-day, 6% interest-bearing note: $ (2) $630,000, 75-day note discounted at 6%: $ c. Alternative is more favorable to the borrower because the borrower
Need hood explanation, don’t use excel please. Tsinoor takes out a loan of $6800. He will repay the loan over 5-years with semi-annual payments of $816 (first payment due in 6-months). Using linear interpolation, what rate of interest, j2 is being charged on the loan?
You wish to buy a $10,900 dining room set. The furniture store offers you a 2-year loan with an APR of 7.2 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.)
** HINT: Look online or look back at your worksheets for "add- on interest" problems! Melanie bought a used car for $10,000. (S)he put $100 down and financed the balance with the dealer at 5% add-on interest. If they agreed to make 36 monthly payments, then: (Round each answer to the nearest penny) What is the total payback amount of the loan? $ What is the amount of each payment? $ /month What is the total amount of interest paid on the loan? $
You want to financed a car that advertised at $31318 but you don't have money. However after checking your credit the dealer offered you that if you pay $571 per month for 6 years, they will give you the car. What is the total amount you will have to pay to the dealer if you finance the car? Write the answer without the "$" sign. Add your answer I
Please help me please get the correct answer in text
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

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