Lush Gardens Co. bought a new truck for $52,000. It paid $5,720 of this amount as a down payment and financed the balance at 4.08% compounded semi-annually. If the company makes payments of $1,700 at the end of every month, how long will it take to settle the loan? a. How many deposits will the company have to make to settle the loan? Round up to the next whole number b. How long will it take to settle the loan?
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- Lush Gardens Co. bought a new truck for $50,000. It paid $5,000 of this amount as a down payment and financed the balance at 5.75% compounded semi-annually. If the company makes payments of $1,900 at the end of every month, how long will it take to settle the loan?Lush Gardens Co. bought a new truck for $56,000. It paid $6,160 of this amount as a down payment and financed the balance at 4.47% compounded semi-annually. If the company makes payments of $1,800 at the end of every month, how long will it take to settle the loan? Express the answer in years and months, rounded to the next payment period You plan to save money for a down payment of $32,000 to purchase an apartment. You can only afford to save $6,000 at the end of every 6 months into an account that earns interest at 5.50% compounded monthly. How long will it take you to save the planned amount? Express the answers in years and months, rounded to the next payment periodLush Gardens Co. bought a new truck for $58, 000. It paid $6, 380 of this amount as a down payment and financed the balance at 3.78% compounded semi - annually. If the company makes payments of $1, 800 at the end of every month, how long will it take to settle the loan? years months Express the answer in years and months, rounded to the next payment period. PLEASE GIVE THE RIGHT ANSWER ITS VERY IMPORTANT
- General Computers Inc. purchased a computer server for $60,500. It paid 45.00% of the value as a down payment and received a loan for the balance at 9.00% compounded semi-annually. It made payments of $2,100.12 at the end of every quarter to settle the loan. a. How many payments are required to settle the loan? Round up to the next paymentLush Gardens Co. bought a new truck for $50,000. It paid $5,000 of this amount as a down payment and financed the balance at 4.65% compounded semi-annually. If the company makes payments of $2,000 at the end of every month, how long will it take to settle the loan? Express the answer in years and months, rounded to the next payment periodLush Gardens Co. bought a new truck for $60,000 of this amount 6,000 was paid as a down payment and the balance financed at 5.75% compounded semi annually. If the company makes payments of 1,700 at the end of every month, how long will it take to settle the loan?
- A company borrowed P45,200 from a savings and loan association that charges 14% converted quarterly. To pay off the loan, the company promised to pay P2,000 every 3 months. (show your solutions at the back) a. How many regular payments are needed? b. When will the company make the last P2,000 payment? c. Find the outstanding balance after the 32nd payment.Lush Gardens Co. bought a new truck for $52,000. It paid $4,160 of this amount as a down payment and financed the balance at 4.43% compounded semi-annually. If the company makes payments of $1,600 at the end of every month, how long will it take to settle the loan? o years o months Express the answer in years and months, rounded to the next payment periodLush Gardens Co. bought a new truck for $70,000. It paid $7,000 of this amount as a down payment and financed the balance at 5.50% compounded semi-annually. If the company makes payments of $1,700 at the end of every month, how long will it take to settle the loan? answer in years and months ______years and _____months
- General Computers Inc. Purchased a computer server for $72,000. It paid 30.00% of the value as a down payment and received a loan for the balance at 7.50 compounded semi annually. It made payments of $2,650.32 at the end of every quarter to settle the loan. A. How many payments are required to settle the loan? compoundedAerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the rest, with the agreement to pay nothing for the entire first year and then to pay $576.83 at the end of each month over years 2, 3, and 4 (first payment is in 13th month). a. What nominal interest rate is Aerotron paying on the loan? % b. What effective interest rate are they paying? % Round your answer to 4 decimal places for a and b. The tolerance is ± 0.0005. c. How much of the 14th month's payment is interest? How much is principal? payment interest = $ , and principal = $ d. How much of the 18th month's payment is interest? How much is principal? payment interest = $ , and principal = $ e. How much of the 22nd month's payment is interest? How much is principal? payment interest = $ , and principal = $ Round your answers to the nearest whole dollar for c-e. The tolerance is ± 5.Tan Company purchased a large server for $23,000. The company paid 40.00% of the value as a down-payment and received a loan for the balance at 5.25% compounded monthly. The loan has a term of 4 years and Tan Company has to make month-end payments to settle the loan. a. What is the size of the month-end payments? $0.00 Round to the nearest cent b. What was the total amount paid to settle the loan? 15 SUBMIT QUESTION 1 SAVE PROGRESS