QUESTION 7. Calculate the monthly payments for Clytemnestra's new Honda. She picks a model that sells for $33,800 when all the options, fees and taxes are added. Clytemnestra makes a down payment of 15% of the total purchase price and finances the rest. Her loan term is 5 years. Her interest rate is 4.6% How much is her monthly payment, rounded to the nearest dollar?

Q: You have agreed to pay off an $8,000 car loan with 24 monthly payments of $400 each. Use the simple…

A: Formula used: To find the interest rate in simple interest:…

Q: You want to buy a $24,000 car. The company is offering a 2% interest rate for 36 months (3 years).…

A:

Q: A business must pay an annuity of $ 20,000 quarterly with j4 = 5%. Calculate the semester payment to…

A:

Q: Steve borrowed $300 for 2 months at a simple interest rate of 6% per annum. How much interest does…

A: Simple interest =( principal × rate × time)/100

Q: Suppose you have budgeted $ 1130 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Given that, the monthly payment towards a mortgage is $1130, the number of years is 30 years and the…

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

A: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

Q: Trevor plans on getting a $166,000 loan for 30 years to purchase a home. Lender A offers him a 5%…

A: The objective of this question is to calculate the difference in monthly payments for a home loan…

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

A:

Q: Ellen is looking to purchase a car.  She determines that she can afford a monthly payment of $325.…

A: To determine the cost of car that Marie can afford.

Q: Suppose you obtain a 30-year mortgage loan of $194,000 at an annual interest rate of 7.9%. The…

A: We have to find out answer of given question....

Q: Nicole Lieu received $25,000 from the sale of an investment on April 1. She will need $8,441 on…

A:

Q: You want to buy a $13,000 car. The company is offering a 4% interest rate for 48 months (4 years).…

A: Where,PVA = Present value of the annuityA = Monthly paymenti = Monthly interest rate in decimal…

Q: Consider a 30-year fixed-rate home loan of $525,500 with an interest rate of 3.75%. What is the…

A: We have to find the interest of given amount. The solution is following.

Q: The house you find that would accommodate your growing family costs $295,000. You obtain a 30-year…

A: Loan amountinterest rate per month, number of periods in 30 years,