Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup (Use Table 14.1) Note: Do not round intermediate calculations. Round the Finance charge to the nearest cent. Purchase price of a used car Down payment 5,773 $ 1,273 Number of monthly payments 48 Amount financed Total of monthly payments 5,829 76 Total finance charge APR

Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup (Use Table 14.1) Note: Do not round intermediate calculations. Round the Finance charge to the nearest cent. Purchase price of a used car Down payment 5,773 $ 1,273 Number of monthly payments 48 Amount financed Total of monthly payments 5,829 76 Total finance charge APR

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

Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase(Cash)Price DownPayment AmountFinanced Add-onInterest Number ofPayments FinanceCharge MonthlyPayment $711 10% $ 6% 12 $ $
Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table. (Round your answers to the nearest cent.) AmountFinanced Number ofPayments APR TableFactor FinanceCharge MonthlyPayment $700 18 16% $ $ $
Find the following. (Round your answers to the nearest cent.) FinanceCharge Number ofPayments Frequency Amount Number ofPayments Left $9.10 12 Monthly $15 5 (b) the amount needed to pay off the loan
Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.). (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.) Purchase priceof a used car Downpayment Number ofmonthly payments Amountfinanced Total of monthlypayments Total financecharge APR $5,673 $1,223 48 $ 4,450 $5,729.76 $1,279.76 13% Monthly Payment By table By formula
Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) AmountFinanced Number ofPayments APR TableFactor FinanceCharge MonthlyPayment $8,800 36 11% $ $ $288.10
Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup.(Use Table 14.1.) Note: Do not round intermediate calculations. Round the Finance charge to the nearest cent. Purchase price of a used car Down payment Number of monthly payments Amount financed Total of monthly payments Total finance charge APR $5,593 $1,183 48 $5,649.76 ANNUAL PERCENTAGE RATE NUMBER OF PAYMENTS 10.00% 10.251% 10.50% 10.75% 11.00% 11.25% 11.50% 11.75% 12.00% 12.25% 12.50% 12.75% 13.00% 13.25% 13.50 13.75% (FINANCE CHARGE PER $100 OF AMOUNT FINANCED) 1 0.83 0.85 0.87 0.90 0.92 0.94 0.96 0.98 1.00 1.02 1.04 1.06 1.08 1.10 1.12 1.15 2 1.25 1.28 1.31 1.35 1.38 1.41 1.44 1.47 1.50 1.53 1.57 1.60 1.63 1.66 1.69 1.72 3 1.67 1.71 1.76 1.80 1.84 1.88 1.92 1.96 2.01 2.05 2.09 2.13 2.17 2.22 2.26 2.30 4 2.09 2.14 2.20 2.25 2.30 2.35 2.41 2.46 2.51 2.57 2.62 2.67 2.72 2.78 2.83 2.88 5 2.51 2.58 2.64 2.70 2.77 2.83 2.89 2.96 3.02 3.08 3.15…
The following loan was paid in full before its due date a) Find the value of h using an appropriate formula b) Use the actuarial method to find the amount of unearned interest c) Find the payoff amount Regular Monthly Payment # of Payments Remaining after Payoff APR 7.2% $247 8 What is the finance charge per $100 financed? h=$ (Round to the nearest cent)
Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for the following installment loan. Purchase(Cash)Price DownPayment AmountFinanced MonthlyPayment Number ofPayments FinanceCharge TotalDeferredPaymentPrice $2,600 0 $ $188.69 18 $ $
Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) Amount Financed Number of Table Finance Monthly Payment APR Payments Factor Charge $9,300 36 13% $ 21.30 $4 11280,74
TABLE 14.2 Loan amortization table (monthly payment per $1,000 to pay principal and interest on installment loan) Terms in months 7.50% 8% 8.50% 9% 10.00% 10.50% 11.00% 11.50% 12.00% 6. $170.34 $170.58 $170.83 $171.20 $171.56 $171.81 $172.05 $172.30 $172.55 12 86.76 86.99 87.22 87.46 87.92 88.15 88.38 88.62 88.85 18 58.92 59.15 59.37 59.60 60.06 60.29 60.52 60.75 60.98 24 45.00 45.23 45.46 45.69 46.14 46.38 46.61 46.84 47.07 30 36.66 36.89 37.12 37.35 37.81 38.04 38.28 38.51 38.75 36 31.11 31.34 31.57 31.80 32.27 32.50 32.74 32.98 33.21 42 27.15 27.38 27.62 27.85 28.32 28.55 28.79 29.03 29.28 48 24.18 24.42 24.65 24.77 25.36 25.60 25.85 26.09 26.33 54 21.88 22.12 22.36 22.59 23.07 23.32 23.56 23.81 24.06 60 20.04 20.28 20.52 20.76 21.25 21.49 21.74 21.99 22.24 TABLE 14.2 (concluded) Terms in months 12.50% 13.00% 13.50% 14.00% 14.50% 15.00% 15.50% 16.00% $172.80 $173.04 $173.29 $173.54 $173.79 $174.03 $174.28 $174.53 9. 89.55 89.79 90.02 90.26 90.49 90.73 12 89.08 89.32 61.68 61.92…

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