In the first payment on a 60- month, $10,000 car loan with an APR of 2.89%, how much pays off the principal?
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How much pays off the principal??
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- 1. Consider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using the average balance method). b. How much would you pay in total for interest?What is the annual interest expense of this accounting question?You are borrowing $10,000 over a two-year period. The annual percentage rateis 4.5%.1) What is the monthly payment?2) What is the total amount paid for loan? 3) What is the total interest paid for the loan?
- Suppose you borrow $15,000 and then repay the loan by making 12 monthly payments of $1,297.92 each. What rate will you be quoted on the loan? NO EXCELWhat is the monthly car payment on a 5 year $17,500 car loan at 5% annual interest?you obtained a $10000 loan at 1.5% compunded monthly. how much more interest will you pay in the second year compared to the third year of the loan
- what is the total amount of the monthly payments for a 5-year loan is $10,692. The APR is 7%. How much money was originally borrowed?After making 45 payments on a 60 - month, $10,000 car loan with APR of 4%, what is the outstanding balance on the loan?What is the monthly payment amount on a $100,000 home loan if the rate is 6.0% APR, and the loan is made for a 15-year period?
- Find the interest paid on a loan of $2,700 for one year at a simple interest rate of 11% per year. The interest on a loan is SFind the monthly payment and estimate the remaining balance (to the nearest dollar). Assume interest is on the unpaid balance. 10) 30-year car loan for $235,000 at 3.21%; remaining balance after 20 years.Need help with this accounting question
