Jack Fitzgerald wishes to purchase a used car that has a cash price of $13,000. The installment terms include a down payment of $4,000 and 48 monthly payments of $222. a) What finance charge will Jack pay? b) What is the APR to the nearest half percent? C Annual Percentage Rate Table for Monthly Payment Plans. (Finance charge per $100 of amount financed) Number 7.50% 8.00% 8.50% 9.00% 9.50% of Payments 36 48 11.98 12.81 13.64 14.48 15.32 16.06 17.18 18.31 19.45 20.59
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- Jack Fitzgerald wishes to purchase a used car that has a cash price of $11,000. The installment terms include a down payment of $4,000 and 36 monthly payments of $225. a) What finance charge will Jack pay? b) What is the APR to the nearest half percent? Annual Percentage Rate Table for Monthly Payment Plans. (Finance charge per $100 of amount financed) Number 7.50% 8.00% 8.50% 9.00% 9.50% of Payments 36 11.98 12.81 13.64 14.48 15.32 48 16.06 17.18 18.31 19.45 20.59please answer with correct calculations and explanations. QUESTION: Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed with a year mortgage at 8% and 4 discount points. Kari made a deposit of $30,000 (applied to the doen payment) when the sales contract was signed. Kari also has three expenses: credit report, $70; appraisal fee, $110; title insurance premium, 1% of amount financed; title search, $200; and attorney's fees, $500. Find the closing costs (in $).Jill Walsh purchases a bedroom set for a cash price of $3,920. The down payment is $392, and the monthly installment payment is $176 for 24 months. Find the amount financed the finance charge The deferred payment price. What will be the APR for this auto loan?
- You purchase an RV by making a down payment of $10,500. The terms of your finance agreement have an annual interest rate of 2.56%, compounded monthly, and require you to make 36 monthly payments of $1,495.75 each. What is the cash price (in dollars) of your RV? (Round your answer to the nearest dollar.) $ 659855 XYou purchase an RV by making a down payment of $10,700. The terms of your finance agreement have an annual interest rate of 2.66%, compounded monthly, and require you to make 36 monthly payments of $1,493.75 each. What is the cash price (in dollars) of your RV? (Round your answer to the nearest dollar.)You purchase an RV by making a down payment of $10,500. The terms of your finance agreement have an annual interest rate of 2.56%, compounded monthly, and require you to make 36 monthly payments of $1,495.75 each. What is the cash price (in dollars) of your RV?
- Find the monthly house payment necessary to amortize the following loan. 9) In order to purchase a home, a family borrows $121,000 at 3.0% for 30 yr. What is their monthly payment? Round the answer to the nearest cent.Philo needs to borrow $310,000 to purchase a home. He is able to obtain a fifteen year mortage with a flixed-rate of 12.0%, What is his monthly payment? For numerical entries, please 1. do NOT enter commas 2. do NOT enter the dollar symbol: $ 3. DO enter the percent symbol when it is needed: % 4. enter dollar amounts to the nearest cent, for example: 12345.67 Please complete the TVM Framework table to compute Philo's monthly payment on this mortgage: Time Value of Money (TVM) Framework FV PV PMT type CPT Piease complete the first rows of the amortization table: Amortization Table Excess Payment Principal Remaining Principal INTEREST Balance If Philo started this mortgage at the beginning of December, how much interest would he pay during its first calendar year?Boyd purchases a snow blower costing $1,742 by taking out a 12.5% add-on installment loan. The loan requires a 35% down payment and equal monthly payments for 2 years. How much is the finance charge on this loan? O $217.75 O $283.08 O $435.50 O $609.70
- Jorge is buying a new car for $24,750. Compare the two loan offers by finding the monthly payments for each and calculating the total amount paid for each. Loan Options Down Payment Monthly Payment Total 5% down payment, 4.25% APR for 5 years 10% down payment, 3.25% APR for 4 yearsNoor is buying a home with a $200,000 mortgage using a 5.5 percent, 30-year loan. How much of the first month's payment will go toward the principal if the payment per $1000 on this loan is $5.6779? O a. $917 O b. $219 O c. $0 O d. $538Gert needs to borrow $415,000 to purchase a home. He is able to obtain a thirty year mortage with a fixed-rate of 3.0%. What is his monthly payment? For numerical entries, please 1. do NOT enter commas 2. do NOT enter the dollar symbol: $ 3. DO enter the percent symbol when it is needed: % 4. enter dollar amounts to the nearest cent, for example: 12345.67 Please complete the TVM Framework table to compute Gert's monthly payment on this mortgage: Time Value of Money (TVM) Framework i PV PMT с Please complete the first rows of the amortization table: Amortization Table INTEREST LA n n Principal Balance Excess Payment FV type CPT Principal Remaining If Gert started this mortgage at the beginning of December, how much interest would he pay during its first calendar year?