James wants to purchase a 2017 Porsche 911 for $120,000. Two financing options are available for him: option 1: 6% APR compounded monthly $20, 000 down payment and 60 equal monthly payments option 2: 5% APR compounded continuously, $10,000 down payment and 36 equal monthly payments. What is the monthly payment for each of these financing options?
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- Need helpTian can afford to put a down payment of $8,000 on a car. He can also afford to make monthly payments of $218.52 at the end of each month for the next five years. If Tian is quoted an annual interest rate of 4.49%, what is the highest price he can afford to pay for a car? Group of answer choices $19,724.14 $11,724.14 $14,118.14 $5,330.13If I buy a truck at17,000 and plan to finance my purchase with a loan and repay over two years. The dealer offer two options either dealer financing with 0% or a 1700 rebate on the purchase price. If I take the rebate I will get a loan for $15,300 at an apr of 5.5%. What will my monthly payments be if I take the rebate
- Suppose that you decide to borrow 13000 for a new car. You can select one of the following loans each requiring regular monthly payments. Installment loan A three-year loan at 5.9% Installment loan B five -year loan at 5.8% What would be the monthly payments for each loan and total interest for them also?Explain well with proper answer. And type the answer.Easton has two options for buying a car. Option A is 1.5% APR financing over 36 months and Option B is 5.5% APR over 36 months with $1800cash back, which he would use as part of the down payment. The price of the car is $35,042 and Easton has saved $3500 for the down payment. Find the total amount Easton will spend on the car for each option if he plans to make monthly payments. Round your answers to the nearest cent, if necessary. Option A: $ Option B: $
- Harrison has two options for buying a car. Option A is 2.1% APR financing over 36 months and Option B is 5.1% APR over 36 months with $ 1600 cash back, which he would use as part of the down payment. The price of the car is $ 29,089 and Harrison has saved $2900 for the down payment. Find the total amount Harrison will spend on the car for each option if he plans to make monthly payments. Round your answers to the nearest cent, if necessary.Chuck Wells is planning to buy a Winnebago motor home. The listed price is $185,000. Chuck can get a secured add-on interest loan from his bank at 7.35% for as long as 60 months if he pays 15% down. Chuck's goal is to keep his payments below $4,300 per month and amortize the loan in 42 months. (a) Find Chuck's monthly payment (in $) with these conditions. (Round your answer to the nearest cent.) $ Can he pay off the loan and keep his payments under $4,300? Yes, under these conditions, Chuck will meet his goal. No, the monthly payment is too high. (b) What are Chuck's options to get his payments closer to his goal? (Select all that apply.) try to negotiate a higher interest rate make a higher down payment make a lower down payment try to bargain for a higher sale price try to negotiate a lower interest rate try to bargain for lower sale price (c) Chuck spoke with his bank's loan officer, who has agreed to finance the deal with a 6.85% loan if Chuck can pay 20% down. What will Chuck's…Chuck Wells is planning to buy a Winnebago motor home. The listed price is $185,000. Chuck can get a secured add-on interest loan from his bank at 7.35% for as long as 60 months if he pays 15% down. Chuck's goal is to keep his payments below $4,300 per month and amortize the loan in 42 months. (a) Find Chuck's monthly payment (in $) with these conditions. (Round your answer to the nearest cent.) $ 4257.64 × Can he pay off the loan and keep his payments under $4,300? Yes, under these conditions, Chuck will meet his goal. No, the monthly payment is too high. (b) What are Chuck's options to get his payments closer to his goal? (Select all that apply.) □ □ □ □ □ make a lower down payment try to bargain for a lower sale price make a higher down payment try to negotiate a higher interest rate try to bargain for a higher sale price try to negotiate a lower interest rate
- Chuck Wells is planning to buy a Winnebago motor home. The listed price is $175,000. Chuck can get a secured add-on interest loan from his bank at 7.45% for as long as 60 months if he pays 15% down. Chuck's goal is to keep his payments below $4,100 per month and amortize the loan in 42 months. (a) Find Chuck's monthly payment (in $) with these conditions. (Round your answer to the nearest cent.) $ Can he pay off the loan and keep his payments under $4,100? Yes, under these conditions, Chuck will meet his goal.No, the monthly payment is too high. (b) What are Chuck's options to get his payments closer to his goal? (Select all that apply.) try to negotiate a higher interest ratetry to bargain for a lower sale pricetry to negotiate a lower interest ratemake a lower down paymenttry to bargain for a higher sale pricemake a higher down payment (c) Chuck spoke with his bank's loan officer, who has agreed to finance the deal with a 6.85% loan if Chuck can pay 20% down. What…Chuck Wells is planning to buy a Winnebago motor home. The listed price is $145,000. Chuck can get a secured add-on interest loan from his bank at 7.45% for as long as 60 months if he pays 15% down. Chuck's goal is to keep his payments below $3,400 per month and amortize the loan in 42 months. (a) Find Chuck's monthly payment (in $) with these conditions. (Round your answer to the nearest cent.) $ Can he pay off the loan and keep his payments under $3,400? Yes, under these conditions, Chuck will meet his goal.No, the monthly payment is too high. (b) What are Chuck's options to get his payments closer to his goal? (Select all that apply.) try to bargain for a lower sale price make a higher down payment make a lower down payment try to bargain for a higher sale price try to negotiate a higher interest rate try to negotiate a lower interest rate (c) Chuck spoke with his bank's loan officer, who has agreed to finance the deal with a 6.85% loan if Chuck can pay 20% down.…I need help solving this on excel 9.You a buying a home for $425,000 and would like to determine the monthly mortgage payment. You can obtain a $340,000 30-year fixed-rate mortgage at 3.5%. What is your monthly payment?