ou are negotiating to buy a new car with a car salesman at a local dealer. You have negotiated the price to $29,000.  You have $3,000 to put towards the down payment and plan to get a loan for the rest.  If you can get an annual interest rate of 7 percent APR (with monthly compounding) over a 5-year period, what would be your monthly payment? Round it to two decimal place

To buy a car, you borrow $28,000 with a term of five years at an APR of 7%. What is your monthly payment? (Round your answer to the nearest $ 554.43 How much total interest is paid? (Round your answer to the nearest cent. )

You want to buy a car, and a local bank will lend you $35,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 11% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places. Monthly loan payment: $_____   EAR: _____  %

You are looking to buy a car. You can afford $460 in monthly payments for four years. In addition to the loan, you can make a $1100 down payment. If interest rates are 7.25 percent APR, what price of car can you afford

You can afford to pay $15,000 at the end of each of the next 30 years to repay a home loan. If the interest rate is 7.50%, what is the most you can borrow?

You are borrowing money to buy a car. If you can make payments of $280 per month starting one month from now at an interest rate of 9%, how much will you be able to borrow for the car today if you finance the amount over 5 years?

You want to buy a car. The loan amount will be $21,000. The company is offering a 5% interest rate for 48 months (4 years). What will your monthly payments be?

You want to buy a house. The loan amount will be $285,000.00. A bank is offering a 5% interest rate for 240 months (20 years). What will your monthly payments be? My monthly payment will be $_________ .

You want to buy a car, and a local bank will lend you $35,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 10% with interest paid monthly. A. What will be the monthly loan payment? Do not round intermediate steps. Round your answer to the nearest cent. B. What will be the loan's EAR? Do not round intermediate steps. Round your answer to two decimal places.

You determine you can afford $300 per month for a car. What is the maximum amount you can afford to pay for a car if the interest rate is 9% and you want to repay the loan in 5 years?