Suppose that you borrow $30,000 for four years at 8% for the purchase of a car. Find the monthly payments and the total interest for the loan. Round answers to the nearest dollar. 1. Monthly payments. 2. The total interest for the loan.

Q: Suppose you purchase a refrigerator for $1,275 and make payments of $59.91 per month for 2 years.…

A: We can solve this as follows:

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A: given that  Purchase (cash) Price = 2000 Down Payment = 15% Add-On Interest, R= 13 1/2 % Number of…

Q: down payment     $  mortgage     $

A: Solution:

Q: Calculate the simple interest earned. Round to the nearest cent. P = $3000, r = 6.6%, t = 23 days

A: The given data .The objective is to find the simple interest earned.

Q: A vehicle is purchased for $45000. If the vehicle depreciates (loses value) at a rate of 20 percent…

A: Given query is to find the value of the vehiuafter 6 years.

Q: K Suppose that you borrow $12,000 for three years at 5% toward the purchase of a car. Use PMT= to…

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Q: Suppose that you borrow $11,000 for five years at 7% toward the purchase of a car. Use PMT= to find…

A:

Q: 2. Donald wishes to borrow $250,000, and he qualifies for a rate of 3.29%. Find the monthly loan…

A: The compound interest formula is given by; CA=P1+r100t Where; CA→Compounded amountP→Principel…

Q: Find the amount (in $) of interest on the loan. Principal Rate (%) $50,000 Alw 5- Time 6 months $…

A: Interest = (Principal * Interest Rate * Time) / 100Given:Principal = $50,000Interest Rate = 23/4% =…

Q: A bank makes a car loan of $27,700, at 5.3% interest and with a loan period of 3 years. What is the…

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Q: Find the interest. Round to the nearest cent. $400 at 7% for 3 years

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Q: Consider a student loan of $20,000 at a fixed APR of 12% for 20 years. a. Calculate the monthly…

A: From the above details we have,

Q: Calculate the simple interest earned. Round to the nearest cent. P = $9070, r = 5.50%, t = 4 months…

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Q: A person owes $1000 on a credit card that charges an interest rate of 2% per month. Complete this…

A: solutionGivenInterest rate=2% per monthowes=1000$

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $503,000 home…

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Q: Find the compound amount for the deposit. Round to the nearest cent. 4) $8000 at 6% compounded…

A: To work out the amount earned through compound interest under the given terms

Q: P Suppose that you borrow $14,000 for four years at 5% toward the purchase of a car. Use PMT = to…

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Q: 3. A restaurant bill is $59 and you pay $72. What percentage gratuity did you pay

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Q: Calculate the simple interest earned. Round to the nearest cent. P = $9070, r = 4.25%, t = 6 months

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Q: A. You need a simple interest bridge loan to cover the costs of buying a new home while waiting to…

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Q: Suppose that you decide to buy a car for $28,635, including taxes and license fees. You saved $7000…

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Q: Jo borrowed $4,750 for 4 months from a bank. The bank discounted the loan at 3.5%. a. How much…

A: Jo borrowed $4,750 for 4 months from a bank. The bank discounted the loan at 3.5%.a. How much…

Q: Suppose that you borrow $12,000 for three years at 5% toward the purchase of a car. Use PMT= to find…

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