How much can the homeowner borrow for 2 years at 9%, compounded monthly, and still stay within the budget?

+ You are looking at buying your first car. Based on your budget you can afford up to $400 per month payments. You go to the DATCU branch in the Union Building and they give you 3 options for preapproved loans. Fill in the table below. Check your answers in Canvas to make sure you got them right before the due date! Unlimited attempts to check your math for the tables! DATCU Options Term in Months (N) Down Payment Required 48 60 72 10% 10% 10% Interest Rate (I/Y) 5.49% 6.49% 6.99% Hint: Convert to monthly on calculator $ 400 $ 400 $ 400 Monthly Payment (PMT) Hint: make it negative on calculator Maximum Amount Financed (PV) Down Payment Required in $$ Maximum Price willing to pay for Car including Tax, Title, and License If you paid the maximum price on the car calculate the following: Total Interest paid on the Car Total Amount paid for car Hint: It is all the payments and down payment

You are considering the purchase of new living room furniture that costs $1,140. The store will allow you to make weekly payments of $25.12 for one year to pay off the loan. What is the EAR of this arrangment? Multiple Choice 27.39% 29.41% 32.99% 31.42%

Natalie decides to buy a poodle print. A poodle print is bought for 24 monthly payments of $200. What is the equivalent cash price if the rate is 18% compounded monthly and the first payment is made one month after the purchase? (Remember: Cash = Now)