Question a  .Derek borrows $42,116.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 5.09%. After a 13.00 months Derek decides to pay off his car loan. How much must he give the bank? Show financial calculator entries.  Full explain this question and text typing work only      We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line

Q: You want to buy a car, and a local bank will lend you $20,000. The loan will be fully amortized over…

A: Loan amortization refers to the process of gradually paying off a debt, typically a loan, through a…

Q: n't get a bank loan because he has no credit history. Which of these will be a better choice for…

A: Mortgage is long-term debt agreement which is generally used to finance capital assets as houses,…

Q: You plan to retire in 45 years and would like to be able to spend $4,000 a month (at the end of…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Q: Pedro bought a late-model car on credit that he will have to pay as follows: $ 105,400 down…

A: Down Payment = $105,400 Payment Per month = $14.284.62 Interest Rate = 1% per month Time Period = 3…

Q: Andrew borrows a certain amount of money now and has to repay it in 4 years time. At the end of…

A: Andrew borrows a certain amount of money that he needs to repay in 4 years.The repayment amount at…

Q: To buy a car, Mr. Gómez obtains a loan of $200,000 with interest of 15% per year, compounded…

A: Loan = $200,000Interest = 15% compounded bi-weeklyBi-weekly payments = $4700

Q: 9. The price of money Suppose that Rajiv borrows $50,000 at 5% per year to purchase equipment for…

A: Amount = Principle* (1+ interest)^time where, Principle = borrowed amount Amount = Total to be…

Q: .You think you will be able to deposit $2,000 at the end of each of the next three years in a bank…

A: The future value represents the value of a sum of money at a future date, taking into account a…

Q: Your girlfriend just won the Florida lottery. She has the choice of $13,300,000 today or a 20-year…

A: She has the choice to receive $13,300,000 today or a 20-year annuity of $1,050,000.Therefore, the…

Q: Derek will deposit $4,080.00 per year for 11.00 years into an account that earns 12.00%. Assuming…

A: To calculate the future value of an annuity (a series of equal payments made at equal intervals), we…

Q: Derek plans to buy a $32,246.00 car. The dealership offers zero percent financing for 53.00 months…

A: Present value is the estimation of the current value of future cash value which is likely to be…

Q: Becky Anderson bought a television set with money borrowed from the bank at 11% interest compounded…

A: Interest rate is the rate that a lender charges on the amount provided to the borrower for the total…

Q: George buys a car every 6 years for P18,000. He trades in his current car to count as the 20%…

A: For George Price of car = ₱18,000 Down payment : 20% Price of car after Down Payment = ₱14,400…

Q: Holly received a 15 year loan of $340,000 to purchase a truck. The interest rate on the loan was…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: Question 14 ( Bobby bought a house for $275,000 by putting 15% down and borrowing the balance. His…

A: Given information,Total amount: Down payment: Years:  yearsRate:

Q: A father loaned his daughter $17,000 at a 3% annual simple interest rate for a down payment on a…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: You plan to save money for a down payment of $43,000 to purchase an apartment. You can only afford…

A: The future value is a financial term that represents the value of an investment or cash flow at a…

Q: Lisa Anderson deposits $3,400 in her bank today. a. ง If the bank pays 4 percent interest per year…

A: Step 1: Given Value for Calculation Present Value = pv = $3400Interest Rate = r = 4%Time = t = 5…

Q: Question A     .Most adults have an annual financial cycle that drives our home lives and needs.…

A: An "annual financial cycle" refers to the recurring financial activities and commitments that…

Q: Loan Payment Formula (monthly payments) PYMT - Principal. (APR) 12 APR (-months) 1-(1+APP) 12 PYMT=…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: Ed wants to have $30,000 in 20 years. He opens a savings account in a bank which pays 7.2% interest…

A: Interest - The sum that the borrower pays to the lender above the principal amount and is fixed at a…

Q: Suppose you start saving for retirement when you are 45 years old. You invest $4,000 the first year…

A: Amount of investment4000growth rate4%tenure20Interest rate10%We have to calculate the amount saved…

Q: rate for 4 yea

A: Introduction : In simple words, opportunity cost refers to the amount of profits lost by choosing…

Q: Your Question :Your Question :Your Question :Your Question :help  please answer in text form with…

A:

Q: To start her business, Mrs. González obtains a loan of $250,000 with interest of 22% per year,…

A: We can determine the time period by rearranging the formula below and solving for n. In the formula…

Q: Question 2 You want to buy a new ski boat 6 years from now, and you plan to save $1,000 every year.…

A: Compounding is a technique to find out the equivalent future value of the present amount.

Q: For a savings account that earns 5.7% interest, compounded daily, compute the simple interest rate…

A: In case of simple interest, the interest amount or component is computed only on the principal…

Q: You can afford a $200 per month car payment. You've found a 5 year loan at 7% interest. How big of a…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: Michelle borrows $7, 200 from her father to buy a used car. She repays him after 9 months, at an…

A: Total amount she repays at the end is calculated using following equation Total amount = P×1+rt…

Q: You did not answer. Dan opens a line of credit at a local bank, and immediately borrows 2080…

A: A line of credit (LOC) is a fixed amount of money that you can borrow at any time.

Q: Dérek bórrows $37,784.00 to buy a car. He will make monthly payments for 6 years. The car loan has…

A: Time value of money (TVM) means that the amount of money received in the present period will have…

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: You can afford a $900 per month mortgage payment. You've found a 30 year loan at 8% interest. a) How…

A: A mortgage is a loan used to purchase a property or real estate. The property serves as collateral…

Q: You just took out a 10-year commercial real estate loan for your business. The loan amount is…

A: Loans are paid by equal monthly installments that carry payment for interest and payment for loan…

Q: Use the Buying a Car information above to answer this question. The rebate offer is $3500, and you…

A: Calculation of the monthly payment if the rebate is chosen and secure a loan for the balance at the…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: To calculate the down payment, we multiply the home price by the down payment percentage. In this…

Q: Problem 4: Read the question and solve the problem below. Write your complete solution. Mike Marquez…

A: The Rule of 78 is a method used by some lenders to calculate interest charges on a loan. The Rule of…

Q: Please correct answer and don't use hand

A: Step 1:     Step 2:         Step 3:

Q: A person needs $18,000 immediately as a down payment on a new home. Suppose that she can borrow this…

A: Continuously compounded interest rate:The concept of continuously compounded interest rate refers to…

Q: Question 11 You borrowed $30,000 today that you must pay back in 3 years paying 3 equal installment…

A: To calculate the payment (PMT), principal, and interest for each of the three equal installment…

Q: You work as a loan officer for Auburn Bank. A couple has financed their mortgage with your bank. The…

A: To compute the amount of loan we can use PV(rate, nper, pmt) function of excel and value of the loan…

Q: A loan's quirky terms require the first payment to be made at the moment the money is lent. Payments…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: You are purchasing a new car for $27,600. The dealership offers you three options: • 0% financing: 0…

A: Car Price = $27,600 Time Period(Months) = 48 Interest Rate = 0% Down Payment = $0