Chuck Wells is planning to buy a Winnebago motor home. The listed price is $155,000. Chuck can get a secured add-on interest loan from his bank at 7.35% for as long as 60 months if he pays 15% down. Chuck's goal is to keep his payments below $3,600 per month and amortize the loan in 42 months. (a) Find Chuck's monthly payment (in $) with these conditions. (Round your answer to the nearest cent.) $ Can he pay off the loan and keep his payments under $3,600? Yes, under these conditions, Chuck will meet his goal. No, the monthly payment is too high.     (b) What are Chuck's options to get his payments closer to his goal? (Select all that apply.) make a higher down payment try to bargain for a higher sale price try to bargain for a lower sale price try to negotiate a lower interest rate try to negotiate a higher interest rate make a lower down payment (c) Chuck spoke with his bank's loan officer, who has agreed to finance the deal with a 6.95% loan if Chuck can pay 20% down. What will Chuck's new monthly payment (in $) be with these conditions? (Round your answer to the nearest cent.) $ With these conditions, will Chuck be able to pay off the loan and meet his goals? Yes, under these conditions, Chuck will meet his goal. No, the monthly payment is too high.

Aidan wants to pay off the loan on his refrigerated trailer on which he has made 15 payments. If Aidan's monthly payment is $387.79 on a 3-year loan at an annual percentage rate of 5.5%, what is the payoff amount (in dollars)? (Round your answer to the nearest cent. See Example 10 in this section.)

John and Judy Jacobson have purchased a house for $450,000. They are putting 20% or $90,000 down payment and just signed a 30 year, 4% loan for the remainder price of the house ($360,000) to buy their house. What is this couple's monthly mortgage payment? Prepare a loan amortization schedule for the Jacobson for the first 2 months. Loan = 450,000 – 90,000 = $360,000 Terms: 30 years @ 4%

Max Small has outstanding school loans that require a monthly payment of $1,000. He needs to buy a new car for work and estimates that this purchase will add $350 per month to his existing monthly obligations. Max will have $3,000 available after meeting all his monthly living (operating) expenses. This amount could vary by plus or minus 10%. Can Max afford the additional loan payment and should Max take on the additional loan payment? (calculate the DFL in tabular form for both the current and proposed loan payments using Max’s available $3,000 as a base and a 10% change.)

Evan and Emmanuel want to buy a $250,000 home. They plan to pay 15% as a down payment, and take out a 30 year loan at 4.9% interest for the balance. a) How much is the loan going to be? b) What will the monthly payment be for Evan and Emmanuel? c) How much of the first payment is interest? d) What is the total of the payments? e) How much interest was paid?

Chuck Wells is planning to buy a Winnebago motor home. The listed price is $155,000. Chuck can get a secured add-on interest loan from his bank at 7.35% for as long as 60 months if he pays 15% down. Chuck's goal is to keep his payments below $3,600 per month and amortize the loan in 42 months. (a) Find Chuck's monthly payment (in $) with these conditions. (Round your answer to the nearest cent.)

Bozo decides to take out a loan for $50,000 for 5 years at 7% monthly. If he paysan extra $200 per month when will the loan be paid off, and how muchinterest will be saved? TVM FORMULA

Curtis buys a piece of commercial property for $230,000. He is offered a 20-year loan by the bank, at an interest rate of 9% per year. The loan requires annual payments to be made. What is the annual loan paymen Curtis must make assuming the first payment will be due one year from the date of purchase? O A. $40,313.10 O B. $30,234.83 O C. $35,273.97 O D. $25,195.69 O Time Remaining: 00:29:43 Next dtv 11 DD F11 F9 F10 F8 F7 F5 esc F4 F2 F3 F1 & @ 2# $ % 8 1 3. 4 { P < CO

Jonathan wishes to buy a used chevy malibu for $12,500. He only has $1,000 for a down payment so th ebest deal he can get on a loan is 9% for 48 months a.) what will his payments be? b.)What is the total interest over the life of the loan?

15) Ben decides to take out a loan for $50,000 for 5 years at 7% monthly. If he pays an extra $200 per month when will the loan be paid off? a) How much interest will be saved?