You want to buy a car worth $20,000. The dealership offers a 4-year loan at 6% APR. What would be your monthly payment, assuming no down payment? a) $416.67 b) $452.10 c) $468.37 d) $474.21
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- You take out a 5-year car loan with monthly payments of $425. The interest rate for the loan is 4.75%. How much total interest will you pay over the life of the loan? Group of answer choices $1,575.06 $22,658.31 $25,500.00 $2,841.69d You have decided to buy a car that costs $31,000. Since you do not have a big down payment, the lender offers you a loan with an APR of 6.27 percent compounded monthly for 7 years with the first monthly payment due today. What is the amount of your loan payment? Multiple Choice $294.91 $454.51 $456.89 $374.71 $293.38Suppose that you decide to buy a car for $25,635, including taxes and license fees. You saved $6000 for a down payment and can get a four-year car loan at 6.53%. Use PMT= total interest for the loan. tbook The monthly payment is $
- Suppose that you decide to buy a car for $26,635, including taxes and license fees. You saved $7000 for a down payment and can get a five-year car loan at 7.71%. Use PMT= find the monthly payment and the total interest for the loan. CE to [-]Suppose that you decide to buy a car for $27,635, including taxes and license fees. You saved $7000 for a down payment and can get a four-year car loan at 7.12%. Use PMT= to find the monthly payment and the total interest for the loan. The monthly payment is $ (Round to the nearest cent as needed.) D PAYou are purchasing a new car for $27,600. The dealership offers you three options: • 0% financing: 0 down and 0% financing for 48 months. • Rebate: 0 down. If you choose the rebate, you will need to secure a loan for the balance at your local bank. • Down payment: Make a down payment of 5% or more and get financing at 1.5% compounded monthly for 48 months:
- You recently graduated from Miami University and are looking to purchase a new vehicle. The car costs $21,000. The bank quotes you an interest rate of 15 percent APR for a 72-month loan with a 10 percent down payment. What will your monthly payment be? $375.27 $2,835.12 $399.64 $3,150.13 $444.05You can afford a $350 per month car payment. You've found a 5 year loan at 6% interest. How big of a loan can you afford? Submit Question Search hpYou have decided to purchase a new car that costs $44,500. You need to make a 20% down payment, then you will finance the rest with a loan. Your bank will extend you a car loan where the APR is 4.32% and you will make monthly payments over five years. What is the monthly payment on the vehicle? O $593.33 O $660.78 O $512.79 O $825.98