You want to financed a car that advertised at $31318 but you don't have money. However after checking your credit the dealer offered you that if you pay $571 per month for 6 years, they will give you the car. What is the total amount you will have to pay to the dealer if you finance the car? Write the answer without the "$" sign. Add your answer I

You want to financed a car that advertised at $31318 but you don't have money. However after checking your credit the dealer offered you that if you pay $571 per month for 6 years, they will give you the car. What is the total amount you will have to pay to the dealer if you finance the car? Write the answer without the "$" sign. Add your answer I

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

After making the thirtieth payment of $582.48 on your car loan, you wanted to find out how much is left of your original 5 years loan at 7.6% compounded monthly of $29,000.00. What is the amount of the remaining balance of your car loan?The remaining balance of your car loan would be $. (Round to 2 decimal places.) The answer is not $17,474.40 or $24,881.07
You want to buy a car and have negotiated a sale price of $50,000. You can get a loan from your local bank at a rate of 6% annually for 6 years. What is your MONTHLY payment? Reference the below formulas when solving the problem above: PV = FV / (1+r)^t FV = PV(1+r)^t FVA = PMT(((1+r)^t) -1) / r FVA = PMT((1+(r/12)^t(12))-1)/(r/12) PVA = PMT(((1-(1+r)^-t) / r)) PVA = PMT((1-(1+(r/12))^-t(12)))/(r/12)
suppose Tim is buying a new car. He agreed to a price of $21,000 and he has $3,500 for a down payment. He is taking out a 6-year loan with a 3.6% annual interest rate. How much are his monthly car payments? 274.58 329.50 373.92 324.74 270.61
i keep trying to do this and it says the answer i’m getting is wrong, i really need help
The formula below finds the monthly payment for a loan (car, mortgage, student): P=I (r/1-(1+r)-n ) 7. If you want to buy a car that costs $16,000 with a loan at 3% APR how many years should you finance the car if you want your payment to be below $230? Do this problem any way you want, but clearly communicate your thinking.
Give typing answer with explanation and conclusion you want to borrow $71,400 from your local bank to buy a nee sailboat. you can afford to make monthly paymnets of $1,480 but no more. assuming monthly compounding, what is the highest rate per year you can afford on a 78- month-loan?
You just got a new part-time job and you need to buy a new car for your job. Suppose you have enough savings to pay the downpayment and you can only afford to pay $400 a month starting one month from now. Suppose your car dealer offers you a car loan with an annual interest rate of 6 %, how much will you be able to borrow for the new car today if you finance the amount over 5 years?
A few years down the road you move out, buying your own home. You decide to take another look at your finances. Your outstanding loan of $250 per month only has 10 payments left on it (out of the original 60) with an interest rate of 12.75%. What is the finance charge “f” what is the unearned intrest how much would it cost to pay it off on payment 51
You are shopping for a car and read the following advertisement in the newspaper: "Own a new Spitfire! No money down. Four annual payments of just $18,000." You have shopped around and know that you can buy a Spitfire for cash for $64,800. What is the interest rate the dealer is advertising (what is the rate that equates the PV of the payments to today's cash price of the car)? Assume that you must make the annual payments at the end of each year. C The rate that equates the PV of the payments to today's cash price of the car is %. (Enter your response as a percent rounded to two decimal places.)
Suppose you want to buy a car right now. Your credit is pretty good so you can get an 4% I interest rate on the loan for the car. You can afford to make payments of $300 each month. You would like to pay this loan back over 4 years. How much car can you afford?
A car dealer will sell you a used car for $6798 with $798 down and payments of $162.51 per month for 47 month for 48 months. What is the simple interest rate ?
You currently work part-time making $1,500 per month. You have $1,000 in your bank account and drive a 2010 Honda Civic worth $5,000. You hope to pay off the loan on the car next year but still owe $1,000. You use your credit card for simple monthly expenses like groceries and gas with the intention of always paying it off before you owe any interest. Currently the card has an outstanding balance of $300. You have few items of any value (you rent your apartment which comes furnished) but you do have a laptop that you use for school. You estimate it is worth $500. You are in your last semester of college. Because you work part-time you are going to graduate with only $5,000 in student loans. Based on this information what is your Net Worth? Question 8 Answer a. $1,700 b. $800 c. $200 d. $1,200

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