Vladimir has purchased a new car and the discrete interest rate is 2% per month and the purchase price is $43,000. a. What is the expected monthly payment over a 4-year period? b. What is the total interest paid over the 4-year period?
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- Suppose you borrow $10,000 from your parents to buy a car. You agree to pay $208 per month for 48 months. What is the monthly interest rate? Respuesta:You decide to finance a $21,000.00 car at a 4% interest rate for 4 years.A. How much will your monthly payment? My payment will be $______ a month B. How much interest will you pay over the life of the loan? I wil pay $______ in interest over the life of the loanTo help finance the purchase of a house and lot, a couple borrows P350,000. The loan is to be repaid in equal monthly installment over a period of 8 years. If the interest rate is converted monthly, how much is the monthly payment at 15% interest, m=12?
- Suppose James will have $25,000.00 for a down payment on a house in 6 years. How much would he have to invest today (present value) if his investment earns a nominal rate of 5 ¼ % compounded monthly? b. How much interest did James’s account earn during the 6 years?Assume that you have purchased a new car and after your down payment, you borrowed $10,000 from a bank to pay for the car. Also assume that you have agreed to pay off this loan by making equal monthly payments for 4 years. Given that the annual interest rate is 11%, how much will be the payment each month? How much will be the payment if you want to pay all the rest of the loan at once at the beginning of third year?4. Cloy availed a cash loan that gave him an option to pay P10,000 monthly for one year. The first payment is due after 6 months. How much is the present value of the loan if the interest rate is 12% compounded monthly?
- 11) Max purchases a lot for $300,000. Max will pay $25,000 dollars at the end of each year. the interest rate is 4% compounded annually, how many full payments must be made? a) what will be the size of the payment one year after the last full payment?Tony has taken a $12,000 car loan. He wants to pay off this debt quickly, so he chooses to pay it in just two years. The loan has a 12% nominal interest rate, compounded quarterly.a. He will make quarterly payments. Draw the cash flow diagram. b. What is his quarterly payment?c. Complete the amortization table, showing the amounts for each payment, interest, and principal.You invest 10.000 dolar in a bank account to buy a house at annual interest rate 14 per year, compounded monthly, for 10 years. What is the price of house in this respect?
- You took out a loan to buy a new car. The monthly interest rate on the loanis 2.5% . You haveto pay S260 every month for 60 months.What is the present value of the cash flows if it's an annuity due?What is the future value of the cash flows if it's an annuity due?You would Ilike to have $59,000 in 5 years for the down payment on a new house following graduation by making deposits at the end of every three months in an annuity that pays 4.25% compounded quarterly. (a) How much should you deposit at the end of every three months? (b) How much of the $59,000 comes from deposits? (c) How much of the $59,000 comes from interest? (Round UP to the nearest dollar. For example, $247) OPensyrooo n 21 l 1e0 (6)' s 6Tei 0hcc doirdW (b)Saaviz wDi 26. 7 1 0 59.000 6 00You borrow $11,000 and promise to make payments of $3,359.50 at the end of each year for 5 years. What is the interest rate earned? Round your answers to the nearest whole number
