When Maria Acosta bought a car  2 1/2  years ago,  she borrowed $11,000 for 48 months at 7.8% compounded monthly. Her monthly payments are $267.51, but she'd like to pay off the loan early. How much will she owe just after her payment at the  2 1/2 -year  mark? (Round your answer to the nearest cent.)$

Q: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: Peter purchased a cottage for $360,000. He paid $32,500 down and agreed to make equal payments at…

A: Solution-The price of the cottage =$360000Down payment=$32500Rate(r)=3.2% or 0.032Time(t)=8…

Q: Tomasz purchased a new heating and air-conditioning system for his home and financed $9,600 at an…

A:

Q: Sallie wants to buy a new home.  She will borrow $400,000 at 3% compounded monthly for 30 years.

A: Given, Initial amount: Interest rate: Interest rate for compounded monthly: Number of years:…

Q: Alexander loaned $70,000 to a small business at 4.18% compounded monthly for 1 year and 6 months.…

A: Alexander loaned  to a small business at  compounded monthly for  year and  months.We have to find…

Q: You take out a loan to purchase a car for $7600. The bank offers you 3.8%, compounded monthly for 4…

A: Interest = $ 26525.22

Q: David plans to purchase a motorcycle. He needs to borrow $7500 and interest is 8% per annum…

A:

Q: . Find the size of the payments if money earns 3% compounding quarterly.

A: Given: Helen has borrowed $4000, and agreed to pay it back in two equal payments to be made in 6…

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

A:

Q: Your electric bill is $128. You are charged 12% simple interest for late payments. How much do you…

A: Solution-: Given: Amount of  electric bill is $128. Rate of simple interest =12% . How much do you…

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

A:

Q: Juan invested $5,600 at 5.75% compounded quarterly for 7.5 years. How much will be in his account at…

A: See calculation below