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:A person borrows an amount for a new house and s/he is going to make monthly payments of 8,000 $ for the next 10 years. The nominal annual interest rate is quoted as 12%. (Assume the first instalment is going to be paid 1 month after s/he borrows.) a. Find the amount borrowed by this person. b. How much does this credit worth at the end of the last payment date? c.lf this person decides on closing his/her loan after paying the 34th instalment, how much should s/he pay? It is given that the closing fee of this credit is 1,453 $.A person borrows an amount for a new house and s/he is going to make monthly payments of 8,000 $ for the next 10 years. The nominal annual interest rate is quoted as 12%. (Assume the first instalment is going to be paid 1 month after s/he borrows.) a. Find the amount borrowed by this person. o. How much does this credit worth at the end of the last payment date? c.lf this person decides on closing his/her loan after paying the 34th instalment, how much should s/he pay? It is given that the closing fee of this credit is 1,453 $.
- Suppose Allison purchases a condominium and secures a loan of P13,400,000 for 30 years at an annual interest rate of 6.5%. a. Find the monthly mortgage payment. b. What is the total of the payments over the life of the loan? c. Find the amount of interest paid on the loan over the 30 yearsSolve this questionYou 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 loan
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