Car cost 12,000 1,000 down payment you need 11,000 loan Auto financing calculates interest for life of loan on borrowed amount using the Simple Interest Formula You borrow 11,000 for 5 years (60 mo.) at 12% interest What is total interest on loan what total cost of car

Data Table Problem Financing a Car What can I afford? We can figure out the monthly payment to finance a car using the PMT function in Excel. That payment will be dependent on how much the car costs and the interest rate. Let's fix the duration of the loan to 5 years. Once we figure out the monthly paymenet for say $25,000 loan at 4.00% annual interest rate, then we can create a Data Table to see how the monthly payment is affected for all combinations of loan amounts and annual interest rates. Loan Amount Annual Interest Rate Monthly Payment Data Table $ 15,000.00 $ 20,000.00 $ 25,000.00 $ 30,000.00 $ 35,000.00 $ 40,000.00 $25,000 4% 1% 2% 3% Annual Interest Rates 4% 5% 6% 7% 8% Instructions Put in the PMT formula in C13 Create the Data table Make B16 equal the value in C13 (important step) Highlight the data table and fill in the data table Format values in the data table as currency Possible Points Points Earned 2 2 1 2

P/Y = 12 PV C/Y = 12 PMT = $200.61 PMT: END BEGIN Monthly payment would be $ 200.61 After making payments for 19 months, Natasha decides to repay the loan in full. Use this information and the monthly payment, found above, to calculate her payoff amount (PV) on the loan. How many payments does Natasha have left (Use this as N in the TVM Solver below)? Calculate the payoff amount (PV). N C/Y = FV = 1% = P/Y = PV = N = 5 years PMT = FV = 10,500 PMT: END BEGIN 1% = 5.51%

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Calculating the Total Interest Payment for a negative amortizing CPM:   $100,000 Mortgage   7% Interest   30 Years   Monthly Payments   110% unpaid loan balance at maturity   Answer is 217,049.1 but need help with work!!!!

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Buying a house for 245000 bank requires a down payment of 15 percent calculate the Down payment

You bought a new car for $40,000 paying 10% down and financed the rest with a 36-month loan. What monthly payments are required to amortize the loan if you borrowed at an annual interest rate of 6.9%? O $1,112.40 O $1,050.19 O $1.095.19 O $1,109.93. 14 *N