A new furniture set costs $ 2100. If you make a down payment of $ 700 and finance the rest at a rate of 9.4% for 12 months, find the monthly payments on your loan. How much will you have paid in interest over the course of the loan? Repayment amount= Interest paid=

You want to buy a $194,000 home. You plan to pay 20% as a down payment, and take out a 3.3% APR loan for the rest. a) How much is the loan amount going to be? b) What will your monthly payments be if the length of the loan is 10 years? c) What will your monthly payments be if the length of the loan is 20 years? $ d) Over the course of the entire loan, how much more do you end up paying with the longer loan? (Hint: take the difference of the total amounts paid) $4 %24 %24 %24

You need to borrow $750,000 to purchase a new house. JRE bank will loan you the money at an APR of 4.3% (monthly compounding) and a 15 year term (i.e. 180 monthly payments in total). After making exactly 27 payments, what is the total amount of interest you will have paid (rounded to the nearest dollar)? The total amount of interest is closest to: A. $63,309 OB. $84,140 c. $68,709 OD. $70,734 ...

To repay a $35,000 loan you will make 30 equal annual payments (starting one year from today) of $4,998.10. What is the interest rate on the loan? If you don’t have a financial calculator, you can use the fact that it is one of the following rates. a) 8% b) 10% c) 12% d) 14% e) 16%

You buy a new truck for your trailer that costs $55,000. What are your monthly payments for a 5 year loan assuming an annual interest rate of 4.75%? Your down payment was $10,000. Make sure your answer is shown to the nearest whole cent.

You want to buy a $205,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 4.15% interest for the rest. a) How much is the loan amount going to be? b) What will your monthly payments be? c) How much of the first payment is interest?

You lend $450 to a friend who promises to make 4 payments to you of $120 at the end of 6 months, 12 months, 18 months and 24 months. Draw a timeline from your perspective. If you can reliably earn 5% per year, what is the net present value (NPV) of this loan?

You can afford a loan payment of $1200 a month. You have put an offer of $175,000 on a house. You are considering three different loans.   Loan A.  P = $175,000 at a rate of 5% with monthly payments for 30 years.   Loan B. P = $175,000 at a rate of 4% with monthly payments for 15 years.   Loan C. P = $175,000 at a rate of 4.5% with monthly payments for 20 years.   Find the payment and total interest for each loan. Loan A:     Payment =                             Total Interest = Loan B:     Payment =                             Total Interest = Loan C:     Payment =                             Total Interest =

You want to buy a $168,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan at 6.95% interest for the rest. How much is the loan amount going to be? What will your monthly payments be?

You borrow 30,000 to buy a new car.         If interest rate permonth is 0.45% and you intend to pay off the loan after 36 monthly payment what should be your monthly payment?