You are considering buying a car for $14,000.00. You put $2,800.00 down and are thinking about taking out a 60-month loan at 6.25% simple interest to pay for the rest. Round all answers to the nearest penny, if needed, unless otherwise directed. How much will your principal be?
You are considering buying a car for $14,000.00. You put $2,800.00 down and are thinking about taking out a 60-month loan at 6.25% simple interest to pay for the rest. Round all answers to the nearest penny, if needed, unless otherwise directed. How much will your principal be?
A First Course in Probability (10th Edition)
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ISBN:9780134753119
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Chapter1: Combinatorial Analysis
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Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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able of Contents > Chapter 5 Finance > Chapter 5 Homework > Chapter 5.2
Chapter 5.2
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Jessica Alvarado
Question 12 of 15
You are considering buying a car for $14,000.00. You put $2,800.00 down and are
thinking about taking out a 60-month loan at 6.25% simple interest to pay for the
rest. Round all answers to the nearest penny, if needed, unless otherwise directed.
How much will your principal be?
2$
At the end of 5 years, how much will you have to pay back?
If you made monthly payments, how much would they be?
earch
立
Transcribed Image Text:AT142 To X
Chapter 5.2 - 11969 MAT142 Top x
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Que
How much will the car cost, in total?
Ques
Sum
If you decided to take a 2 year loan at the same rate, what would your monthly
payments be? Assume equal monthly payments.
How much money would you save, if any, with the 2-year loan? Round your final
answer to the nearest whole dollar. If there are no savings, enter 'N A'.
CHECK ANSWER
arch
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