Chuck Wells is planning to buy a Winnebago motor home. The listed price is $175,000. Chuck can get a secured add-on interest loan from his bank at 7.45% for as long as 60 months if he pays 15% down. Chuck's goal is to keep his payments below $4,100 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 $4,100? 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.) try to negotiate a higher interest ratetry to bargain for a lower sale pricetry to negotiate a lower interest ratemake a lower down paymenttry to bargain for a higher sale pricemake a higher down payment (c) Chuck spoke with his bank's loan officer, who has agreed to finance the deal with a 6.85% 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.)

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%

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

Jim Thorpe borrows $70,000 toward the purchase of a home at 12 percent interest. His mortgage is for 30 years. a. How much will his annual and monthly payments be? b. How much interest will he pay over the life of the loan? c. How much should he be willing to pay to get out of a 12 percent mortgage and into a 10 percent mortgage with 30 years remaining on the mortgage? Suggestion: Find the annual savings and then discount them back to the present at the current interest rate (10 percent).

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?

Arnold has determined that he can afford a monthly payment of $325 for a car. If he can obtain a 4 year car loan at an annual interest rate of 3.1%, what is the maximum amount (in dollars) he can finance? Round your answer to the nearest cent. 

Clark and Lana take a 30 you're home mortgage of $122,000 at 7.9%, compounded monthly. They make their regular monthly payments for five years, then decide to pay $1000 per month. (A) find their regular monthly payment round your answer to the nearest cent (b)Find the unpaid balance when they begin paying the $1000 round your answer to the nearest cent  (c)How many payments of $1000 will it take to pay off the loan (round your answer to two decimal places) (d)How much interest will they saved by paying the loan using the number of payments from parts (c)? (Round your answer to the nearest cent)

Brayden and Noah plan to purchase a home for $140,000. They will pay 20% down and finance the remainder for 25 years at the APR of 5.2%, compounded monthly. c) How much interest will they pay during the 9th year of the loan? $ d) If they were to increase their monthly payments by $150, how long would it take to pay off the loan? Give your answer in whole months.

A couple plans to purchase a vacation home. The bank requires a 5% down payment on the $450,000 vacation home. The couple will finance the rest of the cost with a fixed-rate mortgage at 9% annual interest with monthly payments over 30 years. Complete the parts below. Do not round any intermediate computations. Round your final answers to the nearest cent if necessary. If necessary, refer to the list of financial formulas. (a) Find the required down payment. (b) Find the amount of the mortgage. (c) Find the monthly payment.