You want to buy a new car. You can afford payments of $475 per month and can borrow the money at an interest rate of 4% compounded monthly for 5 years. You should show your work for this question. How much are you able to borrow? How much interest do you pay?
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- 4 Math Applications MyOpenMath You can afford a $200 per month car payment. You've found a 5 year loan at 7% interest. How big of a loan can you afford? Submit Question Search 1 04Request edit access SH 9. You are going to buy your first house, you have saved $4,000 to put down and have been qualified for a 20 or 30 year loan at a rate of 4.5% interest. You are recently out of college and not making much money yet so you want to keep your monthly payment low. You can afford a monthly payment of $900. a. What price house could you afford if you did a 20 year loan? b. What price house could you afford if you did a 30 year loan? c. You decide to do the 30yer loan. After 10 years you sell your home for $220,000 and pay off the rest of the loan on your house how much money do you make?You want to buy a new car. You can afford payments of $500 per month and can borrow the money at an interest rate of 5.1% compounded monthly for 5 years. How much are you able to borrow? How much interest do you pay? Question Help: D Video 1 D Video 2
- You can afford a $200 per month car payment. You've found a 5 year loan at 7% interest. How big of a loan can you afford? S Submit Question Q Search hp OQuestion a Tori is planning to buy a car. The maximum payment she can make is $3400 per year, and she can get a car loan at her credit union for 7.3%interest. Assume her payments will be made at the end of each year 1–4. If Tori’s old car can be traded in for $3325, which is her down payment, what is the most expensive car she can purchase? Full explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this linath Advanced MathQ&A LibraryYou borrow Ksh 1.2million to buy a new car. The lender charges 5% p.a. compounded at the end of each month. You intend to pay the loan off in 5 years. i. How much interest will you pay on the loanii. If the interest is compounded once a year instead of monthly, how much interest would you pay iii. What is the effective interest rate for the loan iv. How would the effective interest rate change if interest was compounded fortnightly instead of monthly? v. Generate a table to show how the Loan of 1million to 2million should be paid over 1 yr, 2yrs and 3yrs in successive quantums of 100,000 to enable any borrower to see what best fits their capability of repayment Formulae A = P(1 +i)n B =P(1+ i/m)mn C =(1+i/m)m- 1 You borrow Ksh 1.2million to buy a new car. The lender charges 5% p.a. compounded at the end of each month. You intend to pay the loan off in 5 years. i. How much interest will you pay on the loanii. If the interest is compounded once a year…
- Find the interest paid on a loan of $2,600 for three years at a simple interest rate of 10% per year. .... The interest on the loan is $ st Help Me Solve This Calculator Get More Help - Cle JDecimals & Percents.6 J Decimals & Percents-7 / Decimals & Percents-8 ype here to search DELL prt sc F10 F2 F3 F4 F5 F6 F7 FB F9 %23 %24 & 4. 7. R. * CO 5Q A friend asks to borrow $55 from you and in return will pay you $58 in one year. If your bank is offering a 6% interest rate on deposits and loans: How much would you have in one year if you deposited the $55 instead? How much money could you borrow today if you pay the bank $58 in one year? Should you loan the money to your friend or deposit it in the bank?Practice Question 2You need to borrow $800,000 to buy a house.You borrow the money from a bank via amortgage with a 25-year term. The mortgagerequires you to make monthly repayments, withthe first payment one month from now. If themonthly interest rate is 0.5%, work out the fairmonthly repayment that you will have to make.
- Question Help ▼ You plan to deposit $800 in a bank account now and $500 at the end of the year. If the account earns 3% interest per year, what will be the balance in the account right after you make the second deposit? The balance in the account right after you make the second deposit will be $ (Round to the nearest dollar.) Enter your answer in the answer box.View History Bookmarks Window Help E Amortized Loans - 21516 MAT142 Topics In College Math DERIVITA lit ( Tiana Klughart EA $ Miguel can afford to pay $150.00 per month for a car. He has $6,000.00 saved up for a down payment. His bank is offering amortized car loans for 1.5% compounded monthly. If he takes out a 5-year loan, what is the price of the most expensive car he can afford? How much will the car cost him in total? $ CHECK ANSWER a D2L 5.3 Amortized Loans - 21516 MAT142 Topics In College Math **** - d2l.pima.edu 3D 5 5.3 **** C Question 4 of 8 M E ** C C Q Q Qu SuQUESTION 1 Afamily planning to buy a house can afford a monthly payment of $1650.00. What is the maximum amount of 20 year-long mortgage they can afford taking, given that the bank charges 3.75% per year compounded monthly? Attach File Browse Local Files