QUESTION 11. Debbie wants to buy a new car. The bank is prepared to give her a loan on thebasis that she pays a 30% deposit, a residual value of R 200 000.00 and finances the balancewith a loan. The loan is for a period of five (5) years. The full purchase price of the car is R800 000.00. The instalments on the loan are payable at the end of every month. The interestrate is 13.5% per annum. Calculate what the amount of Debbie's monthly instalments on theloan will be. R 12 742.16 R 10 416.36 R 10 533.55 R 12 885.51 None of the above

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QUESTION 11. Debbie wants to buy a new car. The bank is prepared to give her a loan on the basis that she pays a 30% deposit, a residual value of R 200 000.00 and finances the balance with a loan. The loan is for a period of five (5) years. The full purchase price of the car is R 300 000.00. The instalments on the loan are payable at the end of every month. The interest ate is 13.5% per annum. Calculate what the amount of Debbie's monthly instalments on the oan will be. R 12 742.16 R 10 416.36 R 10 533.55 R 12 885.51 None of the above

QUESTION 11. Debbie wants to buy a new car. The bank is prepared to give her a loan on the basis that she pays a 30% deposit, a residual value of R 200 000.00 and finances the balance with a loan. The loan is for a period of five (5) years. The full purchase price of the car is R 300 000.00. The instalments on the loan are payable at the end of every month. The interest ate is 13.5% per annum. Calculate what the amount of Debbie's monthly instalments on the oan will be. R 12 742.16 R 10 416.36 R 10 533.55 R 12 885.51 None of the above

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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Direction: Solve and Find for Monthly amortize and Amount of Interest. 1. A newly married couple decided to buy a brand-new car. The net amount of the loan is P 500,000. They plan to amortize the loan in monthly installment for 1 year. If money is worth 12% convertible monthly, how much is the monthly amortization? 2. Janica received a loan from her bank for Php 4,085 for a period of one year. The interest rate is 4.95%. The original loan amount and the interest must be repaid in full at the end of the year. Determine the amount of interest that Janica will pay.
aa.2 Joe purchases a $100,000 home. Mortgage payments are to be made monthly for 30 years, with the first payment to be made one month from now. The annual effective rate of interest is 5%. After 10 years, the amount of each monthly payment is increased by $325.40 in order to repay the mortgage more quickly. Calculate the amount of interest paid over the duration of the loan.
5) George wants to purchase a new house that costs $185, 500. The terms of the sale are 10% down payment and the rest to be paid off at a 5.75% interest rate compounded monthly for 30 years. paying $974.28 for his monthly payment b.) how much will george pay in interest for the life of the loan
4. Laura wants to accumulate RM150, 000 in her bank account by depositing RM1000 at the beginning of each month. If interest on the account is 5% compounded monthly, for how long does Laura have to deposit the money?
April borrows $20000 at an interest rate of 7% to purchase a new automobile. At what rate (in dollars per year) must she pay back the loan, if the loan must be paid off in 5 years? (Use decimal notation. Give your answer to two decimal places.) withdrawal rate: $ per year
Question 5: JJ takes out a conventional loan to purchase a car. The interest rate is 6.8% compounded monthly and JJ has six years to repay the $10,000 they borrowed. What are JJ's monthly payments?
A. Solve the following problems and show your complete solution. 1. Anna bought a diamond necklace worth P185,000. Securing 15% down payment, they agreed to pay the remaining for 1 year with 12% annual interest rate. a. How much is the down payment? b. How much is the mortgage loan? 00 c. How much is the monthly amortization? d. Create an amortization table. HRISTIA
Answer and show the solution
7. Lisa has decided to purchase a seaside villa in Tobago and is considering borrowing $800,000 from a local bank. The 15 year mortgage would have an interest rate of 6% per annum. Monthly payments are expected to be made on the loan. Required: b) Prepare an Amortization Schedule in the form of a table showing monthly interest payment over the first 3 months of the loan. Please answer this question showing all working.
8. Daryl wants to have a total of P4000 in two years so that he can have an upgrading of his bike. He finds an account that pays 5% interest compounded monthly. How much should Daryl deposit into his account so that he will have P4000 at the end of two years?
A year after buying her car, Anita has been offered a job in Europe.Her car loan is for $27,000 at a 6% nominal interest rate for 48 months. If she can sell the car for $20,000, how much does she get to keep after paying off the loan? 6-61 (a) You are paying off a debt at a nominal 8% per year by paying $400 at the end of each quarter for the next year. Find the interest paid in the last $400 payment. (b) If this debt were to be paid off in two equal payments of $1650 at the end of this year and next year, find the interest paid in the first $1650 payment. Again the loan rate is a nominal 8% per year compounded quarterly.
How much interest, in total, will be earned? Need last

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