Robyn is considering the purchase of a new car that sells for $34,000. Čalculate her monthly payment based on a five year car loan charging interest at j12=3.6%. Assume that she makes a down payment of $6,000 and finances the remainder and hat the payments are at the end of each month. pur Answer: Answer

Robyn is considering the purchase of a new car that sells for $34,000. Čalculate her monthly payment based on a five year car loan charging interest at j12=3.6%. Assume that she makes a down payment of $6,000 and finances the remainder and hat the payments are at the end of each month. pur Answer: Answer

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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Isiah a sales manager of a big companyl, wants to buy herself a car that she can use at her job and for personal use. She is considering getting a car loan. Loan amount: P1,500,000.00 5 years 10% 10% Installment term: Annual rate: Annual effective interest rate: Required: Complete the amortization table for the loan Isiah is considering. Months Total Payment Principal Interest Outstanding 1,500,000 1 2 4 5 3.
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14. Nadia takes out a loan of $150,000 to purchase an apartment. The loan is being charged a yearly interest rate of 2.5% applied monthly. Nadia is paying off the loan by making monthly payments of $500.00. (a) How much of Nadia's first payment goes towards paying interest and how much of it goes towards reducing the initial $150,000 loan amount? Show how you found your answers (b) Did Nadia reduce the loan amount she owed more in the first payment or the second payment? Justify.
A woman decides to purchase a $23000 car, and makes down payment of $3500. She arranges to borrow the remainder from a bank that will charge her 4.5% interest. She will make monthly payments for 4 years. a. Find her monthly payment amount b. determine the total amount she would pay for the car and the total amount of interest paid
give me answer in step by step
1. Ginny took out a 3-year loan of $5800 for her son's wedding at an annual interest rate of 4.1% compounded monthly. a) What is Ginny's monthly payment on this loan? $. N = 1% = PV = PMT= 2. b) After making payments for 14 months, Ginny decided to repay the loan in full. Use this information and the monthly payment, found above, to calculate her payoff amount (PV) on the loan. FV = P/Y = C/Y = PMT: END BEGIN How many payments does Ginny have left (Win the TVM Solver below)? The payoff amount (PV) will be $ N = 1% = PV = PMT= FV = P/Y= C/Y = PMT: END BEGIN A career counselor decides to make monthly payments of $170 on credit card debt of $6845.21 and discontinue using the credit card. Assuming the annual interest rate is 22.3%, how many months will it take her to repay the debt? Round UP to the nearest month. "Hint: Make PMT a negative
A student needs to borrow $9,000 to pay for college. She can get the loan at an APR of 10% to be paid off in monthly installments over the next 4 years. If she decides to pay the loan off in monthly installments over 3 years instead of 4 years at the given APR, how much money will she save altogether? Round your answer to the nearest cent.) 62.14

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