7 of 7New 2021Ram 1500Lone StarGetÖ%!09APRfor 72 monthsYou decide to buy a truck. They offer a $3500 rebate off the purchase price OR 0% for 72months. The truck you want costs $50,000. Take the rebate off the purchase price at the time ofpurchase (PW).10. You choose(The Rebate with a 4% per year interest loan, the 0% loanwith no rebate)11. You made that choice because the cost per month between the 4% loan with rebate vs.the 0% is

Cost is the expenditure that is incurred in producing goods and services. It has of two types that…

Answered: You decide to buy a truck. They offer a…

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter6: Saving And Investing

Section6.1: Why Save?

Problem 6R

See similar textbooks

Similar questions

QUESTION 1 Muhammad takes out a loan of $ 2,130, at 8% simple interest, for 8 years. How much will he pay back at the end of year 8? QUESTION 2 Calculate the amount of interest on an investment of AED 103,971 at 8% simple interest for 5 years. QUESTION 3 If you deposit today $7,335 in an account for 6 years and at the end accumulate $10,885, how much compound interest rate (rate of return) you earned on this investment ? QUESTION 4 You will deposit 12,025 at 10% simple interest rate for 9 years, and then move the amount you would receive to an investment account at 12 % compound rate for another 3 years. How much money would you have at the end of the entire period ?
1 You deposit $17,000 in a retirement account on your 25th birthday, and you plan to retire on your 65th birthday. (a) If you expect to have a quarter million dollars in the retirement account when you retire, what nominal annual interest rate r, compounding annually, will make this happen? (b) If you expect to have $250,000 in the retirement account when you retire at 65, what nominal annual interest rate r, compounding quarterly, will make this happen?
Consider a student loan of $12,500 at a fixed APR of 9% for 30 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
b. How much would you expect to pay per month on a $20,000 auto loan if you pay the loan back for 48 month and pay 10% interest?
Q 2 Can you show how this is done step by step, please.
Lane French had a bad credit rating and went to a local cash center. He took out a $100 loan payable in two weeks at $113.50. What is the percent of interest paid on this loan? (Do not round intermediate calculations. Round your answer to the nearest whole percent.) Percentage of Interest? %
Mr. Benedito, a grocery store owner, borrows $50,000.00 from a loan shark, handing him a $77,000.00 promissory note with a maturity of 6 months. What is the annual and monthly simple interest rate charged by the loan shark?
1. You borrow $20,000 from a family member and agree to pay it back in 6 months. Because you are part of the family, you are only being charged simple interest at the rate of 0.5% per month. How much will you owe after 6 months? How much is the interest?
QUESTION 4 A cash flow consists of $100 income at the end of Year 1, $200 at the end of Year 2, $300 at the end of Year 3, and so forth for ten years. What is the equivalent uniform annual cash flow? Use i = 10%.
Edward wants to take a long trip around Europe 7 years from now. He estimates that he will need $12,000 to finance the trip. Edward has found a stock portfolio that generates a 8% yearly rate of return. How much does Edward need to invest today to afford the trip? Round to the nearest dollar, do not enter a dollar sign.
How long will it take money to double if it earns 4 percent per annum compounded annually?
You purchase a house for $250,000 directly from the buyer who owns the home outright. You pay a 20% down payment. You sign a first mortgage and the buyer agrees to finance the remaining $200,000 at 7% annual compound interest with annual end-of-year payments over 12 years. How much is a single yearly payment?

SEE MORE QUESTIONS

Recommended textbooks for you

Economics Today and Tomorrow, Student Edition

Economics

ISBN:

9780078747663

Author:

McGraw-Hill

Publisher:

Glencoe/McGraw-Hill School Pub Co

Economics Today and Tomorrow, Student Edition

Economics

ISBN:

9780078747663

Author:

McGraw-Hill

Publisher:

Glencoe/McGraw-Hill School Pub Co

SEE MORE TEXTBOOKS