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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- You borrow $5,000 at 10% per year and will pay off the loan in 3 equal annual payments starting 1 year after the loan is made. The end-of-year payments are $2,010.57. Which of the following is true for your payment at the end of year 2? a. Interest is $500.00 and principal is $1,510.57 b. Interest is $450.00 and principal is $1,560.57 c. Interest is $348.94 and principal is $1,661.63 d. Interest is $182.78 and principal is $1,827.79.What is the monthly car payment on a 5 year $17,500 car loan at 5% annual interest?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?
- 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?You borrow $64,000 in the form of an unsubsidized loan at 3.98% APR. How much money do you owewhen you begin making payments six months after you graduate?A loan for $36, 000 was obtained to be paid off over 5 years at 5.5% P. A with monthly repayments. a) What are the required monthly payments? b) How much is paid in interest over the life of the loan?
- 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.Consider a student loan of $10,000 at a fixed APR of 6% for 4 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $. (Do not round until the final answer. Then round to the nearest cent as needed.)
