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:Avishek is saving up to buy a boat. He will make deposits of $787.50 at the end of every two weeks. The interest rate is 8.875% compounded weekly. How much will he have at the end of 1 years? a) This question deals with the value of an annuity + . b) There will be payments. The payment period is + c) The payment amount is $ d) The effective interest rate per period is % e) The present/future value is $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?3. You wish to purchase a land worth P750,000 and the seller requires 20% downpayment. Then you will loan the balance from a bank that charge 6% annual interest rate to be paid for 1 year. a. How much is the monthly amortization? b. How much is the total interest?
- You invest $ 1.000 in a bank account to buy a house at annual interest rate 14 per year, compounded monthly, for 5 years. What is the price of house in this respect?A car buyer takes out a 25,000 e loan to purchase the car. Suppose that the annual interest rate is 3%. Assume that interest is compounded continuously and that payments are also made continuously.(i) What monthly payment is required to pay off the loan in 10 years?(ii) What is the total interest paid during the term of the mortgage?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.
- Boris wants to save $27,000.00 for the down payment on a house. He already has $2,700.00, and he will make bi-weekly deposits for the next 2 years (at the end of each period). The interest rate is 1.225% compounded monthly. How much will the bi-weekly deposits be? a) This question deals with the value of an annuity b) There will be payments. The payment period is c) The payment amount is $ d) The effective interest rate per period is % e) The present/future value is $An investor requires an annual (year-end) income of $15,000 in perpetuity. Assuming a fixed rate of interest of 4% each year, and ignoring administrative charges, what is the sum required now to purchase the annuity? Give your answer to the nearest $. 2. A saver invests $1,500 now and at the end of each of the next 4 years. If the interest rate is 6%, what is the present value (to 2 decimal places) of this investment? (Use tables)Suppose that you buy a car costing $14,000. You agree to make payments at the end of each monthly period for 4 years. You pay 7% interest, compounded monthly.(a) What is the amount of each payment? (b) Find the total amount of interest you will pay.
