Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.). (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.)    Purchase priceof a used car Downpayment Number ofmonthly payments Amountfinanced Total of monthlypayments Total financecharge APR $5,673 $1,223 48 $ 4,450 $5,729.76 $1,279.76 13%           Monthly Payment By table   By formula

Use financial calculator app to compute the present value of 10 equal payments of $16,000, with an interest rate of 8 percent. (Round "Present Value" to nearest whole dollar amount.) Calculator Function: Annuity payments: Present Value: no IN %

PLEASE DO NOT ROUND THE ANSWERS Selling Price of Home Down Payment Rate of Interest Years $ 160,000.00 $ 20,000.00 3.50% 30 Required: Please use the above information to answer the below questions: (Use Table 15-1) How many total payments on this mortgage? What is the principal (loan)? What is the payment per $1,000? What is the monthly mortgage payment? TABLE 15.1 Amortization table (mortgage principal and interest per $1,000) Term in Years INTEREST 3½% 5% 5½% 6% 6½% 7% 7½% 8% 8½% 9% 9½% 10% 10½% 11% 10 9.89 10.61 10.86 11.11 11.36 11.62 11.88 12.14 12.40 12.67 12.94 13.22 13.50 13.78 12 8.52 9.25 9.51 9.76 10.02 10.29 10.56 10.83 11.11 11.39 11.67 11.96 12.25 12.54 15 7.15 7.91 8.18 8.44 8.72 8.99 9.28 9.56 9.85 10.15 10.45 10.75 11.06 11.37 17 6.52 7.29 7.56 7.84 8.12 8.40 8.69 8.99 9.29 9.59 9.90 10.22 10.54 10.86 20 5.80 6.60 6.88 7.17 7.46 7.76 8.06 8.37 8.68 9.00 9.33 9.66 9.99 10.33 22 5.44 6.20 6.51 6.82 7.13 7.44 7.75 8.07 8.39 8.72 9.05 9.39…

Using this table as needed, calculate the required information for the mortgage. Amount Interest Financed Rate $88,500 8.00% Need Help? Read It Submit Answer Term of Loan (years) 30 Number of $1,000s Financed 88.5 Table Factor (in $) 7.34 Monthly Payment (in $) X LA Total Interest (in $) X

Calculate the present value of the following annuities, assuming each annuity payment is made at the end of each compounding period. (FV of $1. PV of $1. FVA of $1, and PVA of $1) (Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places.) 1. 2. 3. Annuity Payment $ 5,600 10,600 4,600 Annual Rate Interest Compounded Semiannually 9.0% 10.0% Quarterly 11.0% Annually Period Invested 3 years 2 years 5 years Present Value of Annuity

Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. Use Exhibit 7-6, Exhibit 7-7. Note: Round your intermediate and final answers to the nearest whole dollar. Monthly gross income $ 4,850 Other debt (monthly payment) $260 20-year loan at 5 percent Down payment to be made (percent of purchase price ) 10 percent Monthly estimate for property taxes and insurance $ 385

Complete the following table: (Use Table 15.1.) (Do not round intermediate calculations. Round your answers to the nearest cent.)   First Payment Broken Down Into—   Selling price Down payment Amount mortgage Rate Years Monthly payment Interest Principal Balance at end of month   $221,000 $44,200   7.00 % 15

Gmail News Translate Post Attendee - Zo... A new car costing $28,000 can be financed with a four-year loan at 6.12%. A three-year-old model of the same car costs $16,000 and is financed with a four-year loan at 6.86% with monthly payments of $382.10. Use the present value of an annuity formula to find the difference in monthly payments between financing the new car and the used car. Rund to the nearest cent. ni pmt 1 P- $ 282.58 O$ 277.02 O$ 382.10 O$ 166.11

Estimating the annual interest rate with an ordinary annuity. Fill in the missing annual interest rates in the following table for an ordinary annuity stream: Number of Payments or Years 10 19 25 80 Annual Interest Rate % (Round to two decimal places.) % (Round to two decimal places.) % (Round to two decimal places.) % (Round to two decimal places.) Future Value $0.00 $12,286.30 $0.00 $1,435,078.21 C Annuity Present Value $580.00 $444.01 $1,985.57 $450.00 $2,298.49 $0.00 $37,000.00 $0.00

Buy On Time or Pay Cash Cost of Borrowing 1. 2. 3. 4. 5. 6. 7. 8. Cost of Paying Cash 9. 10. Terms of the loan a. Amount of the loan b. Length of the loan (in years) c. Monthly payment Total loan payments made ($ per month Less: Principal amount of the loan Total interest paid over life of loan Tax considerations: - Is this a home equity loan? - Do you itemize deductions on your federal tax return? What federal tax bracket are you in? Taxes saved due to interest deductions ($ %) Total after-tax interest cost on the loan X months) Annual interest earned on savings (6% X Annual after-tax interest earnings ($ %) X $10,000.00 5 $188.70 no yes 35% $ $ $ 00 00 $