Lush Gardens Co. bought a new truck for $66,000. It paid $6,600 of this amount as a down payment and financed the balance at 4.50% compounded semi-annually. If the company makes payments of $2,200 at the end of every month, how long will it take to settle the loan? years    months       Katherine obtained a business loan of $245,000 at 5.09% compounded semi-annually.   a. What was the size of the semi-annual payments to be made over 25 years in order to pay off the loan?     b. Calculate the interest paid on the loan.     How long would it take to save at least $13,500.00 by making deposits of $800.00 at the end of every 6 months in a savings account that earns 3.63% compounded quarterly?   years  months

Lush Gardens Co. bought a new truck for $70,000. It paid $7,000 of this amount as a down payment and financed the balance at 5.50% compounded semi-annually. If the company makes payments of $1,700 at the end of every month, how long will it take to settle the loan? answer in years and months   ______years and _____months

Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the rest, with the agreement to pay nothing for the entire first year and then to pay $576.83 at the end of each month over years 2, 3, and 4 (first payment is in 13th month). a. What nominal interest rate is Aerotron paying on the loan? % b. What effective interest rate are they paying? % Round your answer to 4 decimal places for a and b. The tolerance is ± 0.0005. c. How much of the 14th month's payment is interest? How much is principal? payment interest = $ , and principal = $ d. How much of the 18th month's payment is interest? How much is principal? payment interest = $ , and principal = $ e. How much of the 22nd month's payment is interest? How much is principal? payment interest = $ , and principal = $ Round your answers to the nearest whole dollar for c-e. The tolerance is ± 5.

Lush Gardens Co. bought a new truck for $56,000. It paid $6,160 of this amount as a down payment and financed the balance at 4.47% compounded semi-annually. If the company makes payments of $1,800 at the end of every month, how long will it take to settle the loan? Express the answer in years and months, rounded to the next payment period You plan to save money for a down payment of $32,000 to purchase an apartment. You can only afford to save $6,000 at the end of every 6 months into an account that earns interest at 5.50% compounded monthly. How long will it take you to save the planned amount? Express the answers in years and months, rounded to the next payment period