Instructions: Fill in the blanks and calculate the monthly payments for a car loan having the details as provided below. Item Computation Sticker price of a car Excise tax Licensing Fee Down Payment Annual interest rate "r" Number of payments a year Number of years Periodic rate of interest i Loan PV Php 1,700,000.00 20% Php 20,000.00 35% 6.0% 12 Answer: Answer: PMT Answer:

Q: Develop a general-purpose Excel spreadsheet to calculate the balance due, principal payment, and…

A: Amortization refers to the process of gradually paying off a debt, such as a loan, through regular…

Q: You have a loan of $44354 and will repay the loan over 5 years at 2% interest under fixed payment…

A: Present value of an annuity: It is the value of all future payments at the present date at some…

Q: Find the amount (in $) of interest on the loan. Principal $90,000 Rate (%) m/+ Time 9 months LA…

A: Step 1 The amount a lender charges a borrower is called an interest rate, and it is expressed as a…

Q: a. If the interest rate on the loan is 12%, how long will it take for her to repay the loan fully?…

A: By rearranging a PV of ordinary annuity formula we can determine the time taken.  PV = PMT…

Q: Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to…

A: A loan is a sum of money that is borrowed from a lender with the agreement that it will be repaid by…

Q: Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to…

A: Given:Purchase price =$4,195Down payment = $95Number of payments = 60Amount financed = $4,100Total…

Q: Use the information for the question(s) below. You are in the process of purchasing a new automobile…

A: Loan: It represents the amount borrower from the lender by the borrower. The principal amount of…

Q: A car dealership offers car loan for purchasing a type of truck. The interest on the loan is i12) =…

A: Given: Interest rate = 1.5% Payment = $1,243.40 Period = 3years

Q: Determine the monthly payment that must be made, as well as the financial run, to acquire a Nissan…

A: List Price is $238,900 Down payment is $11,945 Annual interest rate is 14.65% Number of periods are…

Q: You borrow $2600 at 6% APR to purchase a computer. You plan to make monthly payments of $28.86 until…

A: The amortization table is a presentation method of installment payments, interest amount…

Q: NAB offers a car loan that will require you to pay 8% per annum, compounded weekly. Which of the…

A: Effective annual rate is the equivalent rate in comparison with the interest rate that is compounded…

Q: For the car loan described, give the following information. A car dealer will sell you the $30,950…

A: In this problem we have to get interest rate from given data.

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A: Cash Price = $6000 Down payment = 15% Interest rate = 13.5 / 12 = 1.125% Number of payment = 30

Q: Correct ans please

A: Given: Price of car : $84,500 APR : 4.7% Time period : 60 months

Q: Not use of the excel Q)A car loan of $36601 is to be repaid by making payments each month for 3…

A: Loans are paid by the monthly payment that carry the interest payment and payment for the principal…

Q: Find the monthly house payment necessary to amortize the following loan. $60,000 at 6.00% for 30…

A:

Q: Construct an amortization schedule for a $1.000, 3.5% annual rate loan with 3 equal payments. The…

A: Annual Payment = [PV of Annuity * r] /[1 - (1 + r)-n]

Q: As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI…

A: Given, Monthly payment is $1773.60 Annual tax is $6,513 Annual insurance is $2,186

Q: Suppose that you decide to buy a car for ​$23,635​, including taxes and license fees. You saved…

A: We need to use loan amortization formula to calculate monthly payment( PMT) of loan.wherePMT =…

Q: 46143.60 ) amount of interest 15793.60 =) interest rate (Round your 0.40 X % 1) APR (rounded to the…

A: in this you have to find out the interest rate from calculating present value FACTOR.

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A:

Q: onsider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using…

A: Equated Monthly Installments are one part of the equally divided monthly outgoes to clear off an…

Q: i. How much interest will you pay on the loan ii. If the interest is compounded once a year instead…

A: Hi There, Thanks for posting the question. As per our Q & A honour code, we must answer the…

Q: Fill in the table by the appropriate present value or periodic payment Periodic Payment (Php)…

A: The given problem can be solved using PMT and PV function in excel. PMT function computes…

Q: b) Sale price of the car = S 23800 DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT c) If the…

A: A concept through which it is studied that the current worth of money is higher than its future…

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A: The add-on interest method adds the total interest and the principal amount to reflect the amount…

Q: (Refer to this word problem The accumulated value of a 3-month loan of P5,000 is P5,085. What is the…

A: Principal (P) = P 5000 Accumulated value (F) = P 5085 n = 3 months = 0.25 years Let r = Simple…

Q: In the Excel Payment Function file that follows, you are looking to see what your basic mortgage…

A: When you make monthly payments for a loan the quantum of each monthly payment is same for the…

Q: Consider a student loan of $10,000 at a fixed APR of 10% for 5 years. a. Calculate the monthly…

A: Here,LoanAmount (PV) is $10,000Interest Rate (r) is 10%Time Period of Loan (n) is 5 yearsCompounding…

Q: Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to…

A: The purchase price of the car is $4255 The down payment is $95 The total number of the monthly…

Q: Monthly payment of loan b, rounded to the nearest cent

A: Monthly payment for the loan is the amount paid for loan over a time.

Q: for your next car For the Questions 3-5 assume you want to finance (borrow) $12, and your interest…

A: In this question monthly payment is to be calculated and monthly payment paid for a loan comprises…

Q: James Hogan is purchasing a $30,000 automobile, which is to be paid for in 48 monthly installments…

A: Compound = Monthly = 12Present Value = pv = $30,000Number of Payment = nper = 48Monthly Payment =…

Q: Prepare an amortization schedule for a three-year loan of $87,000. The interest rate is 10 percent…

A: Loans are equal and fixed amount of periodic payments and these payments carry the payment for…

Q: Calculate the monthly payment by table lookup and formule. (Answers will not be exact due to…

A: Introduction   The amount you pay each month to repay your loan to the lender is known as the…

Q: This worksheet requires you to use the IPMT and PPMT funtions to calculate the loan balance, and the…

A: EMI or monthly mortgage payments are the fixed amount paid by the borrower to the lender that…

Q: Question Danny put a $5.500 down payment on a car. He financed the remairing balance with a 70 month…

A: Car finance: Automobile finance refers to the many financial solutions that allow someone to obtain…

Q: Amount Number of Financed Payments $6,400 36 APR tA 13% $ Table Factor to Finance Charge Monthly…

A: An amortization schedule, is a table that shows the breakdown of each periodic payment made towards…

Q: Purchase Price $32,000.00 Rebate $2,000.00 Gas credit 2% of purchase price Down payment 10% of…

A: We need to use formula mention in written notes

Q: 4 Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to…

A: An amortization schedule is a complete schedule of periodic blended loan payments showing the amount…

Q: Purchase price: $21,000 Down payment: $4,000 Interest rate: 3.9% Loan length: 36 months Car value at…

A: Total amount of interest paid on loan = Total monthly payments made - Amount of loan taken