Sarah's home loan requires monthly payments and has an effective annual rate of 5.85%. The APR on this home loan is closest to: a. 5.70% b. 6.00% c. 5.95% d. 6.15%
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- General accountingYour credit card company charges you 1.32 percent per month. What is the APR on your credit card?Multiple Choicea. 17.04%B. 16.44% C. 17.89%D. 15.05%E. 15.84%Your credit card company charges you 1.45 percent per month. What is the EAR on your credit card?Multiple ChoiceA 16.53%B 18.13% C 18.86%D 17.40%E 19.80%
- Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) Monthly Payment Amount Number of Table Finance APR Financed Payments Factor Charge $800 18 16% $ 15.91 $ 50.29 $ 105.22please use ba II when able A homeowner has five years of monthly payments of $1,100 before she has paid off her house. If the interest rate is 5% APR, what is the remaining balance on her loan? A. $46,632 B. $69,948 C. $58,290 D. 81, 606Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase(Cash)Price DownPayment AmountFinanced Add-onInterest Number ofPayments FinanceCharge MonthlyPayment $711 10% $ 6% 12 $ $
- Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) Amount Number of Financed Payments $6,200 36 APR 11% LA Table Factor Finance Charge Monthly PaymentCalculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.)I want to this question answer general Accounting
- A borrower with a 645 credit score is buying a $449,481 home with 95% LTV financing. The percent annual premium from the private mortgage insurance (PMI) company is 1.43% for a 30% coverage policy. The borrower's monthly premium payment is? Note: the question is asking for the monthly premium only, not the loan payment + premium. (Input your answer rounded to the nearest whole penny and without the $ sign, e.g., 1000.01)Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) Amount Number of Table Finance Monthly Payment APR Financed Payments Factor Charge $700 18 16%K Wei-Jen needs to borrow $5000. She can borrow from a finance company at 6.90% add-on interest for 4 years. Or she can borrow from a credit union (48 monthly payments of $134.14 each.) Find each APR and determine the better choice. 10.0 APR 10.5 APR 11.0 APR 11.5 APR 12.0 APR # of monthly payments (n) 24 36 48 60 10.75 16.16 21.74 27.48 11.30 17.01 22.90 28.96 11.86 17.86 24.06 30.45 12.42 18.71 25.23 31.96 Use the table to find the APR for the finance company loan.% (Round to the nearest half percent.) Use the table to find the APR for the credit union loan. % (Round to the nearest half percent.) Which is the better choice? 12.98 19.57 26.40 33.47 12.5 APR 13.54 20.43 27.58 34.99 13.0 APR 14.10 21.30 28.77 36.52