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You can afford an $800 per month mortgage payment. You found a 30-year loan at 6% interest. How big of a loan can you afford?  How much will you pay the loan company? How much of that money is interest?

You have monthly interest rate of 1.65% and a balance on your credit card of 2000.00. If you paid the minimum payment of 50.00 each month: How much of the 50.00 would go towards interest? What PERCENTAGE would go towards reducing the principle (the balance)

A payday lender might lend you $350 now, and you'll be asked to pay them back when your paycheck comes. Of course, you'll have to pay interest. The median fee charged by these types of lenders is $15 per every 100 borrowed. How much would you have to pay back in ten days?

You want to buy a $214,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 5.6% interest for the rest.a) How much is the loan amount going to be?b) What will your monthly payments be?c) How much of the first payment is interest?

you want to buy a car and a local bank will lend you 15000. the loan will be fully amortized over 5 years and the nominal interest rate will be 10% with interest paid monthly. What will be the monthly loan payment and what will be the loan's EAR?

You have saved $6,946 for a down payment on a new car. The monthly payment you can afford is $495. You will make payments for 48 months (starting 1 month from today). If the relevant interest rate is 0.44% per month (this is an Effective Monthly Rate), the price of the car you can afford (taking into account the down payment as well) is $ Hint: Loan problems are typically PV annuity problems, where the amount you are borrowing is the PV of the series of future payments. Margin of error for correct responses: +/- .05

Your business had to borrow 584, 069.18 to cover some urgent experises. The loan carries an annual interest rate of 15%, and the monthly payment is $2000. How many years will it take to pay off this loan? ROUND YOUR ANSWER TO THE NEAREST WHOLE NUMBER

A $230,000 mortgage has a stated annual rate of 4.5% on a 30 year loan.  Approximately how many payments would it take to pay off the loan if you made payments of $2000 each month? (NOTE: don't forget to "undo" to get your formula back into the payment amount in your table after changing for this question!)

A new furniture set costs $ 2700. If you make a down payment of $ 300 and finance the rest at a rate of 7.6% for 18 months, find the monthly payments on your loan. How much will you have paid in interest over the course of the loan? Repayment amount =  Interest paid =