Grisha needs to borrow ​$17001700 for an automobile repair. She finds that Bank A charges 4.24.2​% simple interest on the amount borrowed for the duration of the loan and requires the loan to be repaid in six equal monthly payments. Bank B offers loans of ​$17001700 to be repaid in 12 monthly payments of ​$146.34146.34. Answer parts​ (a) through​ (d).   Number of Payments Annual Percentage Rate ​5.0% ​5.5% ​6.0% ​6.5% ​7.0% ​7.5% ​8.0% ​8.5% ​9.0% ​(Finance charge per​ $100 of amount​ financed) 6 1.46 1.61 1.76 1.90 2.05 2.20 2.35 2.49 2.64 12 2.73 3.00 3.28 3.56 3.83 4.11 4.39 4.66 4.94       Question content area bottom Part 1 ​a) How much interest is charged by Bank​ A?   Bank A charges ​$enter your response here in interest.

For questions that include taxes, PST 7% and GST = 5%. 1. Bea Fehr requires a personal loan to purchase appliances that cost S5000. She meets with the loan officers of two financial institutions. Institution A offers her a fixed interest rate Of 9 ¾% for a three-year loan; Institution B offers her a fixed interest rate of 11 ½ % for a three-year loan. How much will pay Institution A each month? How much will Bea pay Institution B each month? With which financial institution will Bea pay more each month? How much more will she pay? What is the difference in interest over the three years between the two financial institutions?

enny takes out a new car loan for $41,000 at 5% annual interest rate for 5 years. a. What is Jenny’s monthly payment? Two years later, Jenny has already made 24 monthly payments (of amount calculated in a.) and has 36 remaining payments. What is the remaining principal on the loan? Solve using two methods. b. Solve by calculating the Present Worth of the remaining 36 payments. c. Solve using Excel Spreadsheet function CUMPRINC as discussed on page 165 of text. (note: you should get same answer on b. and c.)

Sarah Maddox wants to buy a new car that will cost $15,000. She will make a down payment in the amount of $3,000. She would like to borrow the remainder from a bank at an interest rate of 8% compounded monthly. She agrees to make monthly payments for a period of two years in order to pay off the loan.Select the correct answer for each of the following questions:(a) What is the amount of the monthly payment (A)?1. A = $12,000 (A/P, 0.75%, 24).2. A = $12,000 (A/F, 0.66%, 24).3. A = $12,000 (A/P, 0.66%, 24).4. A = $12,000 (A/F, 9%, 2)/12. (b) Sarah has made 12 payments and wants to figure out the remaining balance immediately after the 12th payment. What is that remaining balance?1. B12 = 12A.2. B12 = A(P/A, 9%, 1)/12.3. B12 = A(P/A, 0.66%, 12).4. B12 = 10,000-12A.

Suppose Lydia needs to borrow $24,200 for the purchase of a car and is considering two loan options. Loan A is a seven-year loan at 8.8% interest while loan B is a six-year loan at 8.3% interest.Determine the monthly payment required to repay Loan A and the total interest paid over the life of Loan A. Round solutions to the nearest cent, if necessary.The monthly payment for Loan A is $ Incorrect.The total interest paid for Loan A is $ Incorrect.Determine the monthly payment required to repay Loan B and the total interest paid over the life of Loan B. Round solutions to the nearest cent, if necessary.The monthly payment for Loan B is $ Incorrect.The total interest paid for Loan B is $ Incorrect.Determine the lower-cost option of the two loans. Loan A is the lower-cost option. Loan B is the lower cost option. Determine the amount of savings Lydia will experience if she chooses the lower-cost loan option.Savings = $

Jill wants to buy a home.  Her monthly gross income (GI) is $7,000.  She currently has a car payment of $480/month.  The bank wants her to escrow $450/month for taxes (T) and insurance (HI).  The bank requires the following income and loan ratios; a minimum down payment of 20%, a P&I as a percent of GI ratio < 25%, a P, I, T, & HI as a percent of GI ratio < 28%, a P, I, T, HI and other debt service as a percent of GI ratio < 36%, and a LTV ratio of 80% or less. What is the maximum market value of a home that Jill could purchase given a current market rate on a 30-year fixed rate loan is 4.75%?

Enter your dollar answers rounded to the nearest two cents and precede numbers that are less than zero (0) with a minus sign (–).) Buy On Time or Pay Cash Cost of Borrowing       1. Terms of the loan       a. Amount of the loan $10,000.00     b. Length of the loan (in years) 5     c. Monthly payment $188.70   2. Total loan payments made       ($  per month  months)   $   3. Less: Principal amount of the loan   $   4. Total interest paid over life of loan   $   5. Tax considerations:       – Is this a home equity loan? no     – Do you itemize deductions on your federal tax return? yes   6. What federal tax bracket are you in? 35%   7. Taxes saved due to interest deductions       ($  x %)   $   8. Total after-tax interest cost on the loan   $   Cost of Paying Cash       9. Annual interest earned on savings       (6% x )   $   10. Annual after-tax interest earnings       ($  x %)   $   11. Total after-tax interest earnings…

I need help with answering question B: A car loan offered by Bank One requires quarterly payments and has an APR of 4.8 percent, whereas a the same loan amount may be obtained from Bank Two at an APR of 5 percent with monthly payments. Which loan would you choose and why?

If Megan has $35,000 in student loans and wants to pay them down using the standard repayment method (interest of 5.5% and starting at the end of the month), how much will she have paid in total towards her loan? $35,000.00 $44,550.45 $45,581.04 $39,786.45 please answer fast i give upvote

A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $2,000 per month for the next 2 years and then $1,000 per month for 2 years after that. If the bank charges a 9% annual percentage rate (APR) it would be willing to lend to the business owner . A) $60,480 B) $63,598 C) $65,143 D) $62,074