You want to buy a motorcycle for $15,500 plus freight of $155 and other delivery charges of $125. You have already saved 15% of the total purchase price (including all charges) towards a down payment. The bank is willing to finance the remaining balance at 8.62% compounded quarterly. What is the size of your monthly payment if the loan is for 5.25 years. The monthly payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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- You want to buy a motorcycle for $13,500 plus freight of $105 and other delivery charges of $125. You have already saved 15% of the total purchase price (including all charges) towards a down payment. The bank is willing to finance the remaining balance at 9.06% compounded quarterly. What is the size of your monthly payment if the loan is for 3.25 years. The monthly payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)You want to buy a motorcycle for $ 12,500 plus freight of $155 and other delivery charges of $225. You have already saved 25% of the total purchase price (including all charges) towards a down payment. The bank is willing to finance the remaining balance at 8.67% compounded quarterly. What is the size of your monthly payment if the loan is for 3.75 years.You plan to purchase a $500,000 home with a 20% down payment. You can take out a 30-year FRM of $400,000 at an APR of 7.2%. (1) What is your monthly payment? (2) If you make regular monthly payments, how long will it take to pay off half of the loan? (i.e., reduce the principle of the loan balance to half) (3) After making regular monthly payments for 10 years, how much will be the loan balance? Assume you obtain two quotes with and without (discount) points: either 7.2% APR without point or 6% with 2.5 points.
- You want to buy a motorcycle for $10 comma 50010,500 plus freight of $195195 and other delivery charges of $225225. You have already saved 1515% of the total purchase price (including all charges) towards a down payment. The bank is willing to finance the remaining balance at 9.169.16% compounded quarterly. What is the size of your monthly payment if the loan is for 4.754.75 years.You want to buy a car, and a local bank will lend you $15,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 10% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places. Monthly loan payment: $ 318.71 EAR: 4.98 %You want to buy a boat, and a local bank will lend you $25,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 6% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places.
- You are negotiating to buy a new car with a car salesman at a local dealer. You have negotiated the price to $29,000. You have $3,000 to put towards the down payment and plan to get a loan for the rest. If you can get an annual interest rate of 7 percent APR (with monthly compounding) over a 5-year period, what would be your monthly payment? Round it to two decimal placeYou are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly payment plan at 18%. but instead of monthly payment plan, you are interested in quarterly installment. Compute the amount you will pay after each quarter. Suppose you are planning to take this car through bank loan but you already have saving of Rs.150,000 which you paid to bank as down payment and rest you agree on monthly installment at 18%. Compute monthly payment. Consider the following future value problem. The respective cash flows for t = 0, 1, 2, and 3 are $3,000, $2,000, $8,000, and $5,000 and the discount rate is ten percent. What is the future value at t = 4?You are negotiating to buy a new car with a car salesman at a local dealer. You have negotiated the price to $38,000. You have $3,000 to put towards the down payment and plan to get a loan for the rest. If you can get an annual interest rate of 11 percent APR (with monthly compounding) over a 5-year period, what would be your monthly payment? Round it to two decimal place (cents), e.g., 234.56.
- You want to buy a $120,000 house, and you apply for a mortgage loan. The bank requires a 20% down payment. It will give you a 25-year loan at 8.75% annual interest rate, payable in monthly installments. How much is your monthly payment? use monthly compunding formulaSuppose that you borrow $17,000 for three years at 8% toward the purchase of a car. Use PMT= PA [---] -nt The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.) to find the monthly payments and the total interest for the loan.You are interested in buying a brand new jalopy and expect the purchase price to be $19,000. The car dealership can offer financing at a 6% interest rate over 6 years. If you put 1,000 down towards the purchase and accept the financing terms, what will your monthly payment for the loan be? In Excel