Rachel took out a personal loan for $4,500 with a monthly payment of $173.06 for 36 months. Determine the finance charge on Rachel's loan if she takes all 36 months to pay it off.
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- Rachel took out a personal loan for $4,500 with a monthly payment of $173.06 for 36 months. Determine the finance charge on Rachel's loan if she takes all 36 months to pay it off.Ans ??Jessica borrows $1,000.00 from a credit card company at 25% annually for two years. Determine Jessica’s monthly payment. Show your work.
- Janet borrows $3500 from a credit card company at 22.5% annually for 3 years. Determine Janet’s monthly payment. Show your work.Yusra has a term loan that she still owes $11,138.67. The annual interest rate on this loan is 4.22% this month she is making payment 34. Her monthly payment is $413.25 how much will her balance be after she makes this months paymentPhyllis borrowed $1,000 at 2% APR for six months. Use the simple interest formula to calculate the total amount of interest Phyllis will pay if she pays $200 two months into the loan and the rest at six months.
- Janet borrows $3800 from a credit card company at 24.5% annually for 3 years. Determine Janet's monthly payment.mary, a college student, needs to borrow $8000 today for her tuition. She agrees to pay back the loan in a lump-sum payment upon graduationg, 4 years from today. The lender agrees to lending at a fixed 3.85% interest rate during the loan period. what the total cost of Mary's student loan?Theresa borrowed $7258.00 compounded monthly to help finance her education. She contracted to repay the loan in monthly payments of $265.00 each. If the payments are due at the end of each month and interest is 4% coumpunded monthly, how long will Theresa have to make monthly payments? State your answer in years and months (from 0 to 11 months). theresa will have to make payments for _____ year(s) and ______ month(s)
- Natalia will owe $6,050 to repay a personal loan she took out to go on vacation. The loan was for a term of 10 months at 5.2% ordinary interest. What was the original amount of her loan?Jane took out a loan from the bank today for X. She plans to repay this loan by making payments of $520.00 per month for a certain amount of time. If the interest rate on the loan is 1.12 percent per month, she makes her first $520.00 payment later today, and she makes her final monthly payment of $520.00 in 7 months, then what is X, the amount of the loan? O An amount less than $3,501.00 or an anmount greater than $4,238.00 O An amount equal to or greater than $3,501.00 but less than $3,739.00 O An amount equal to or greater than $3,739.00 but less than $3,980.00 O An amount equal to or greater than $3,980.00 but less than $4,081.00 O An amount equal to or greater than $4,081.00 but less than $4,238.00Sonia borrowed $7829.00 compounded monthly to help finance her education. She contracted to repay the loan in monthly payments of $331.00 each. If the payments are due at the end of each month and interest is 5% compounded monthly, how long will Sonia have to make monthly payments? State your answer in years and months (from 0 to 11 months). Sonia will have to make payments for year(s) and month(s)
