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 pleasemary, 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?
- 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.Jasper purchased a car for 47,500. He paid a 20% down payment and financed the rest at 2.88 % for 6 years. Find the amount of down payment the monthly payment and the total interest jasper will have paid at the end of his loan.
- Liz borrowed $52,500 to purchase a home. The bank offered her an APR of 3.49% for a term length of 15 years. Excel calculates the monthly payment to be $375.06. If she were to pay only the minimum payment for the lifetime of the loan, how much will Liz be paying in interest?Marisol finances a sports car for $27,500 by taking out an installment loan for 36 months. The payments were $998.61 per month and the total finance charge was $8,449.96 After 21 months, Marisol decided to pay off the loan. After calculating the finance charge rebate, find her loan payoff amount.Megan takes out a car loan for $13,000. She intends to make monthly payments for 5 years to pay off her loan. If the bank charges her an annual interest rate of 4.2% computed monthly on the loan balance, how much will her monthly payments be?
- Jodi takes out a loan to buy a car for $29,000. If her monthly payment is $500 and the annual interest rate of the loan is 8%, how many payments must she make to pay off the loan? 73.57 (months) 49.19 (months) 105.49 (months) 85.49 (months)Britt owes $1,984.92 on a personal loan. The interest rate is 15.4%. How long will it take to pay off this loan if she pays $25 a month? If she pays $50 a month? What is the minimum she needs to pay each month in order to make any progress on paying off the loan?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 payment