Hi, can you please help me solve this problem? I need one amortization table per each problem, 3 of them at all. List price, $ 350,000 Payment alternatives 1. Down payment of 20% and the rest paid monthly for 5 years. The fixed interest rate of the financier is 15.99% annually / monthly. Commission for opening credit equal to 3% (initial single payment on the approved amount). 2. Down payment of 20% and the rest to be paid in 36 months with a fixed interest rate of 15.99% per year / per year. Commission for opening credit equal to 3% (initial single payment on the approved amount). 3. Pay a car in cash with a discount of 5% invoice value. If Juan decides this option, he knows that he would have to apply for a personal loan at the bank where he has his payroll, he would offer to supplement the amount of the value of the car. The rate that would be charged for the personal loan is 23.75% per year / biweekly for a 72-month term, with fixed biweekly payments. THANK YOU SO MUCH!
Hi, can you please help me solve this problem? I need one amortization table per each problem, 3 of them at all.
List price, $ 350,000
Payment alternatives
1. Down payment of 20% and the rest paid monthly for 5 years. The fixed interest rate of the financier is 15.99% annually / monthly. Commission for opening credit equal to 3% (initial single payment on the approved amount).
2. Down payment of 20% and the rest to be paid in 36 months with a fixed interest rate of 15.99% per year / per year. Commission for opening credit equal to 3% (initial single payment on the approved amount).
3. Pay a car in cash with a discount of 5% invoice value. If Juan decides this option, he knows that he would have to apply for a personal loan at the bank where he has his payroll, he would offer to supplement the amount of the value of the car. The rate that would be charged for the personal loan is 23.75% per year / biweekly for a 72-month term, with fixed biweekly payments.
THANK YOU SO MUCH!
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