Fast Eddie's Used Cars will sell you a 1989 Mazda Miata for OMR5,000 with no money down. You agree to make weekly payments for 2 years, beginning one week after you buy the car. The stated rate on the loan is 13%. How much is each payment? Select one: O a. OMR99.65 O b. OMR68.19 c. OMR54.66 O d. OMR42.96 O e. OMR75.90 Clear my choice
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- d You have decided to buy a car that costs $31,000. Since you do not have a big down payment, the lender offers you a loan with an APR of 6.27 percent compounded monthly for 7 years with the first monthly payment due today. What is the amount of your loan payment? Multiple Choice $294.91 $454.51 $456.89 $374.71 $293.38Suppose that you decide to borrow $15,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A: three-year loan at 5.9% Installment Loan B: five-year loan at 4.8% P Use PMT = to complete parts (a) through (c) below. - nt 1- 1+ a. Find the monthly payments and the total interest for Loan A. The monthly payment for Loan A is $. (Do not round until the final answer. Then round to the nearest cent as needed.)Suppose that you decide to borrow $15,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A: three-year loan at 6.3% Installment Loan B: five-year loan at 4.8% PA [¹-(1+] Use PMT= -nt7 to complete parts (a) through (c) below. a. Find the monthly payments and the total interest for Loan A. The monthly payment for Loan A is $. (Do not round until the final answer. Then round to the nearest cent as needed.)
- A used car dealer advertises financing at 0% interest over 3 years with monthly payments. You must pay a processing fee of $500 at signing. The car you like costs $9000. (a) What is your effective annual interest rate? (b) You believe that the dealer would accept $8200 if you paid cash. What effective annual interest rate would you be paying, if you financed with the dealer?You are interested in purchasing a new automobile that costs $35,000. The dealership offers you a special financing rate of 6% in APR for 48 months. The repayment needs to be made on the monthly frequency. Assume that you do not make any down payment on the auto and take the dealer's financing deal. What is your monthly car payment? O $1533.4 O $8,859.65 O $821.98 O $729.2Suppose that you decide to borrow $13,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A: three-year loan at 6.3% Installment Loan B: five-year loan at 4.8% P. Use PMT = to complete parts (a) through (c) below. - nt 1- a. Find the monthly payments and the total interest for Loan A. The monthly payment for Loan A is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for Loan A is $. (Round to the nearest cent as needed.) b. Find the monthly payments and the total interest for Loan B. The monthly payment for Loan B is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for Loan B is $. (Round to the nearest cent as needed.) MacBook Air
- A lending company advertises that for a fee of P10, you can immediately borrow up to P200 for one month.If a person accepts the offer, what is the nominal interest rate per year? O a. 60% O b. 6% O c. 50% O d. 5%suppose you want to buy a new car that costs you 15514 OMR by a loan from bank Muscat for 6 years. the bank charges you 4.004 percent on your loan. what is the annual payment should you pay to the bank every year on your loan? Select one: a. 2485.64 b. None of the options c. 3657.71 d. 81315.86 e. 2959.87suppose you want to buy a new car that costs you 11993 OMR by a loan from bank Muscat for 6 years. the bank charges you 4.004 percent on your loan. what is the annual payment should you pay to the bank every year on your loan? Select one: a. 2827.57 b. 62860.71 c. None of the options d. 2288.11 e. 1921.51
- You take out a consumer loan at your credit union for new insulated windows for your house. The total installed cost is $8,900 of which you pay 16% down. The balance is to be paid in 48 equal monthly payments with a finance charge equal to 6.8% add-on interest on the outstanding balance. Find the monthly payment. OA S255,14 O B. S171.39 OC. 5198.11 O D. $211.27 QUESTION 7 Find the minimum cash investment for a FHA loan on a home in a low closing cost state costing $107,450 with closing costs of $650. OA $2960,18 OB. 53712.32 ০s3223.50 OD.53175.07Suppose that you decide to borrow $15,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A: three-year loan at 6.3% Installment Loan B: five-year loan at 5.2% Use PMT= nt] to complete parts (a) through (c) below. The total interest for Loan A is $1501.35. (Round to the nearest cent as needed.) b. Find the monthly payments and the total interest for Loan B. The monthly payment for Loan B is $284.42 (Do not round until the final answer. Then round to the nearest cent as needed.)You want to buy a car, and a local bank will lend you $20,000. The loan will be fully amortized over 5 years (60 months), and nominal annual interest rate will be 6%. What will be the monthly loan payment? $275.75 $444.89 $304.81 $386.66 $295.78