A 48-month car loan of $12,000 can be completely paid off with monthly payments of $300 made at the end of each month. What is the nominal rate of interest convertible monthly on this loan?

You have taken out a 60-month, $26,000 car loan with an APR of 8%, compounded monthly. The monthly payment on the loan is $527.19. Assume that right after you make your 50th payment, the balance of the loan is $5,083.64. How much of your next payment goes toward principal and how much goes toward interest? Compare this with the prinicipal and interest paid in the first month's payment. (Note: Be careful not to round any intermediate steps less than six decimal places.) The amount that goes towards interest is $. (Round to the nearest cent.) C

a car loan of 25,293.25 is to be repaid with​ end-of-month payments of 554.68. If interest is ​7% compounded monthly how long is the term of the​ loan? State your answer in years and months​ (from 0 to 11​ months).

What is the monthly payment to repay a 10 year loan of $200,000 at a nominal rate of 15% per year if the interest is compounded quarterly?  Assume interperiod compounding.

Find the length of the loan in months, if $500 is borrowed with an annual simple interest rate of 3% and with $517.5 repaid at the end of the loan.

You receive a car loan of $22,000 and must pay off the loan in 60 monthly installments. If your interest rate is 18% per year compounded monthly, what are your approximate monthly payments on this loan? O $558.66 $885.50 O $658.35 O $500.00 O $605.89

You have taken out a 60-month, $26,000 car loan with an APR of 6%, compounded monthly. The monthly payment on the loan is $502.65. Assume that right after you make your 50th payment, the balance of the loan is $4,890.99. How much of your next payment goes toward principal and how much goes toward interest? Compare this with the prinicipal and interest paid in the first month's payment. The amount that goes towards interest is $ . (Round to the nearest cent.) The amount that goes towards the principal is $. (Round to the nearest cent.) Compare this with the prinicipal and interest paid in the first month's payment. (Select the best choice below.) O A. In the first month, the amount that goes towards principal is $372.65 and toward interest is $130.00. Therefore, you can see that over time, as you pay down the principal of the loan, less of your payment has to go to cover interest and more of your payment can go towards reducing the principal. O B. In the first month, the amount that…

A loan of $1500 is repaid with a check for $1575.  If the annual simple interest rate was 15%, what was the time length of the loan in years? In months?

Assume that interest is the only finance charge. Use financial calculator to answer the questions. How much interest would be paid on a $8,000 installment loan to be repaid in 48 monthly installments of $211.10? Round the answer to 4 decimal places. % per month What is the APR on this loan? Round the answer to 2 decimal places. %

Prescott Bank offers you a $22,000, 6-year term loan at 10 percent annual interest. What will your annual loan payment be?