Different payment plans can affect the amount of money you need to borrow. a) Ali is paying off a loan by making $50 payments at the end of every month for 2 years, at 6%, compounded monthly. How much money did they borrow originally?

2. Alex needs to repay a $ 8500 debt. His bank offers personal loans with terms from one to five years at 8.9% per year, compounded monthly. a) Determine Alex's monthly payment for a five-year term. Use formula and show your work. ( gag. b) Calculate the total interest paid on the loan if he makes monthly payment. c) Determine Alex's payment if he chooses to make bi-weekly and weekly payments. Use TVM Advanced Calculator and fill up the blank. Bi-weekly Weekly TVM Advanced Calculator TVM Advanced Calculator Mode *End O Beginning Mode End Beginning Present Value PV Present Value PV Payments PMT Payments PMT

Heather borrowed $4700 on her credit card to purchase new furniture. Find the monthly interest charges, which are 1.8% per month on the unpaid balance. Find the interest charges if she moves the debt to a credit card charging 0.7% per month on the unpaid balance. What are the interest charges at 1.8% a month? What are the interest charges at 0.7% a month? What are the savings that using the 0.7% card brings over the 1.8% card?

You want to buy a car and therefore you borrowed $10,000 from a bank today for 6 years. The nominal interest rate that the bank charges is 7.2%. If you start making equal monthly payments beginning today then what will be your approximate monthly installment?   Group of answer choices   $170.43 $154.31 $160.31 $171.45

Karen has a QuikTrip credit card. The card has a balance of $988.62 with an APR of 28.75%. The QuikTrip expects the minimum payment to be 4.1% of the balance. What is Karen’s minimum payment? How long will it take Karen to pay off her QuikTrip credit card? How much interest will Karen pay if she only pays the minimum payment? Show steps

Calculate the interest and total amount to be paid for each of the following. Pay attention to the term, sometimes people take out loans that do not equal a whole year. Total loan amount to be paid Loan Total Interest to be paid Princi Interest pal Name Total Total rate Interest Interest term (in per year per month months Johanna 4550 5.5% 24 Martin 7240 6.5% 36 Sonia 5000 7% 17 Ferdy 8500 3.5% Dave 950 8.5% Liz 11400 7.45% 9 Jermaine 12500 5.5% 24 Rudy 22600 3% 22 Nora 15400 6.5% 20 Nilliam 4800 4.75% 32

it For pre nments Unit Activity: Credit Cards and Large Purchases Buying a House Bethany and Samuel are buying a new house. They have $25,000 saved for a down payment and know that they can afford a monthly payment of $1,500 or less. They also know that the best interest rate they can get is 5.1% annually and they want to sign a 30-year mortgage. Part A If 5.1% is the annual interest rate, what is the monthly interest rate? BI U X² X₂ V 田 15px- Space used (includes formatting): 0/ 15000 V V Part B If they sign a 30-year mortgage, how many monthly payments will they make? BIUX² X₂ 15px M くく EEEEE 6 of 7 E Dec 1 1:56 Save & Exit

How do we work out how much was saved by making the partial payment? I know the answer is $26.91, but I don't know how to get there. Please help me.   Polly Flynn borrowed $6,000 for 90 days at 7%. On day 20, Polly made a $2000 partial payment. (Assume ordinary interest) What is Polly’s ending balance due?     How much did Polly save by making the partial payment?

It does not have to be a long explanation.

Mateo and Klaus have now saved up their down payment to buy a home, but they still need to borrow to cover the rest.  For the home they want this will require a mortgage of $585,000 to cover the remaining amount and they're not sure whether they could afford the monthly loan payments.  The bank has offered them a mortgage interest rate of 5.15%, compounded semi-annually.  How much would they have to be able to afford to pay each month in order to pay off their mortgage in 25 years? [Blank-1]What is the total amount of interest that would be paid to the lender after 25 years of payments? [Blank-2]What if Mateo and Klaus could only afford a monthly payment of $2,500?  What would be the maximum mortgage amount they could afford to borrow from the bank, if all the other conditions were the same? [Blank-1]What is the total amount of interest that would be paid to the lender over 25 years? [Blank-2]