H M9Ro-as re raa troesedb atoa6411 6alo5a,1908ecrcase6. Lonnie needs extra money to buy a truck to start up a delivery service. Hetakes out a simple interest loan for $6000.00 for 5 months at a rate of 6.25%.(a) How much interest must he pay? (b) What is the future value of theloan? (Round to the nearest penny - hundredth place. For example$123.46)(9)108h Nam909PXRXTTtr stPrice x 12 ute asa deumut Y time Cyeus2 b00 0040.0635 x 0.41666-600 01t 0.068X7.G156 2501252100GISG6) 15 6,asmust pay uuc i5,7suinaretA=LunncIntre t roid (Is6.asfurd ed to nurd retks pie ela ce

Calculate the interest amount as follows:

Answered: H M 9Ro-a s re raa troese db ato a6411…

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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A few years down the road you have moved out, buying your own home. You decide to take another look at your finances. Your outstanding loan of $275 per month only has 8 payments left on it (out of the original 60) with an interest rate of 11.75%. a. What is the finance charge “f”? b. What is the unearned interest “u”? c. How much would it cost to pay it off on payment #53?
Suppose you decide to buy a car for $25,485, including taxes and licensing fees. You saved $10,000 for a down payment and can get a five- year loan at 6.52%. Use the present value of an annuity formula to find the monthly payment. Round to the nearest cent as needed. -nt pmt 1- P = $218.99 O $303.13 O $498.88 O $8413.52
A few years down the road you move out, buying your own home. You decide to take another look at your finances. Your outstanding loan of $250 per month only has 10 payments left on it (out of the original 60) with an interest rate of 12.75%. What is the finance charge “f” what is the unearned intrest how much would it cost to pay it off on payment 51
Please answer everything asap. DONT USE EXCEL!
K Which loan best meets the person's needs? (Round to the nearest cent as needed.) Someone needs to borrow $16,000 to buy a car and the person has determined that monthly payments of $300 are affordable. The bank offers a 4-year loan at 7% APR, a 5-year loan at 7.5%, or a 6-year loan at 8% APR. Which loan best meets the person's needs? Explain. ... OA. The first loan best meets the person's needs because the monthly payment of $ amount of $300 per month. B. The second loan best meets the person's needs because the monthly payment of $ amount of $300 per month. KOMENTAR OC. The third loan best meets the person's needs because the monthly payment of $ amount of $300 per month. D. None of the loans meet the person's needs. ch is less than the maximum budgeted is less than the maximum budgeted is less than the maximum budgeted
DETAILS HARMATHAP12 6.5.029.EP. MY NOTES A recent college graduate buys a new car by borrowing $18,000 at 8.4%, compounded monthly, for 5 years. She decides to pay $379 instead of the monthly payment required by the loan. (a) What is the monthly payment required by the loan? (Round your answer to the nearest cent.) $ How much extra did she pay per month? (Round your answer to the nearest cent.) (b) How many $379 payments will she make to pay off the loan? (Round your answer up to the next whole number.) payments (c) How much does she pay in total over the life of the loan by paying $379 per month rather than the required payment? $ If instead of paying $379 per month she only paid the required payment every month, how much would she have paid in total over the life of the loan? (Round your answer to the nearest cent.) $ How much will she save by paying $379 per month rather than the required payment? (Round your answer to the nearest cent.) Need Help? Read It e Show My Work (optional)…
W - 2... History S Bookmarks Window Help SA D21 5.3 Amortized Loans... What will the monthly payment be? Sarah negotiated a price of $25,590.00 for a new Toyota Camry Hybrid Sedan. She is prepared to give a down payment of 17%. Her credit union offered her a 6-year amortized loan for the remaining amount at a rate of 1.8%. How much money will be paid in interest? How much will the car cost, in total? $ D21 Chapter 5.3 - 21516... www d2l.pima.edu CHECK ANSWER LG My Courses - Lookin... If she got a simple interest loan at the same interest rate and time, how much would she pay in interest? LG Academics - Looking...
Nn.160. Subject :- Finance
ery am Proctor Suppose you want to buy a $146,000 home. You found a bank that offers a 30-year loan at 5.3 % APR. What will be your monthly payment? (Round to the nearest cent.) 644.04 How much would you end up paying the bank for the home after 30 years? (Round to the nearest cent.) Suppose you wanted to reduce the time of your loan to 25 years. What would be your new monthly payment? (Round to the nearest cent.) How much would you end up paying the bank for the home after 25 years? (Round to the nearest cent.) How much did you save by reducing the time of your mortgage loan? (Round to the nearest cent.) Question Help: Video Message instructor Submit Question
=t K A friend asks to borrow $54 from you and in return will pay you $57 in one year. If your bank is offering a 6.1% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $54 instead? b. How much money could you borrow today if you pay the bank $57 in one year? c. Should you loan the money to your friend or deposit it in the bank? a. How much would you have in one year if you deposited the $54 instead? If you deposit the money in the bank today you will have $ b. How much money could you borrow today if you pay the bank $57 in one year? You will be able to borrow $ today. (Round to the nearest cent.) c. Should you loan the money to your friend or deposit it in the bank? From a financial perspective, you should end of year. in one year. (Round to the nearest cent.) (Select from the drop-down menu.) ▼ as it will result in more money for you at the
Mf4.
in the picture thanks a bunch yall

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