2. Now consider: 4.05% APR on 5 years for $23,000 car a. Estimate the monthly payment (using the average balance method) b. How much would you pay in total for interest?

can you solve this? thank you...

4. Suppose $5,000 is deposited in a savings and loan account that pays 5.5% interest compounded semiannually. Use compound interest to calculate the following:a. How much money will be saved?b. How much will be owed after 2 years?

For the Questions 3-5 assume you want to finance (borrow) $12,000 for your next car and your interest rate will be 6%. 3. What will be your monthly payment and the total amount paid over the life of the loan if you finance for 48 months? Provide the car payment and the TVM inputs you used to calculate the payment. Рayment Total of all payments PV FV RATE/INTEREST PERIODS/N (See next page for Questions 4 and 5)

You have just purchased a car and taken out a $50,000 loan. The loan has a five-year term with monthly payments and an APR of 6.0%. a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) b. How much will you pay in interest, and how much will you pay in principal, during the fourth year (i.e., between three and four years from now)? (Note: Be careful not to round any intermediate steps less than six decimal places.) a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) During the first month, you will pay $ in principal. (Round to the nearest cent.)

Suppose you want to accumulate $20,000 for a down payment on a house in 5 years. How much must you deposit today into an account with an APR of 5% compounded monthly in order to have $20,000 in 5 years? PV = PMT= FV = APR = Periods = Compounding:

Find the monthly payment and estimate the remaining balance (to the nearest dollar). Assume interest is on the unpaid balance. 10) 30-year car loan for $235,000 at 3.21%; remaining balance after 20 years.

Suppose you decide to buy a car for $25,485, including taxes and licensing fees. You saved $10,000 for a down payment and can get a five- year loan at 6.52%. Use the present value of an annuity formula to find the monthly payment. Round to the nearest cent as needed. -nt pmt 1- P = $218.99 O $303.13 O $498.88 O $8413.52

es If you borrow $6,100 at $510 interest for one year, what is your annual interest cost for the following payment plan? (Round the final answers to 2 decimal places.) a. Annual payment b. Semiannual payments c. Quarterly payments d. Monthly payments Effective rate

United Rug Company is a small rug retailer owned and operated by Pat Kirwan. After the accounts have been adjusted on December 31, the following selected account balances were taken from the ledger: Advertising Expense $ 33,940 Depreciation Expense 14,560 Freight In 20,410 Merchandise Inventory, January 1 371,500 Merchandise Inventory, December 31 462,050 Miscellaneous Expense 9,000 Purchases 1,764,000 Purchases Discounts 39,590 Purchases Returns and Allowances 45,080 Pat Kirwan, Drawing 66,960 Salaries Expense 370,350 Sales 2,216,000   The estimated cost of merchandise returns from December sales is $23,330.   Required:   Journalize the closing entries on December 31. Refer to the Chart of Accounts for exact wording of account titles.