S Cars Just sold you a clunker (you need it to get to class on time). You financed the $4,728.48 purchase price for 24 months. They said your payment
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- Sultan’s Used Cars just sold you a clunker (you need it to get to class on time). You financed the $8,000 purchase price for 48 months. They said your payment would be $250. What interest rate did they charge you (assume monthly compounding)?Suppose that you decide to buy a car for $26,635, including taxes and license fees. You saved $7000 for a down payment and can get a five-year car loan at 7.71%. Use PMT= find the monthly payment and the total interest for the loan. CE to [-]A car dealer will sell you a used car for $6798 with $798 down and payments of $162.51 per month for 47 month for 48 months. What is the simple interest rate ?
- Suppose that you decide to buy a car for $25,635, including taxes and license fees. You saved $6000 for a down payment and can get a four-year car loan at 6.53%. Use PMT= total interest for the loan. tbook The monthly payment is $You just bought a used car for $11,000 with no down payment using dealer financing at 4% APR compounded monthly. If you make monthly payments of $300, how many months will it take you to payoff the loan? Your Answer: AnswerSuppose that you decide to buy a car for $27,635, including taxes and license fees. You saved $7000 for a down payment and can get a four-year car loan at 7.12%. Use PMT= to find the monthly payment and the total interest for the loan. The monthly payment is $ (Round to the nearest cent as needed.) D PA
- Suppose that you decide to buy a car for $26,635, including taxes and license fees. You saved $7000 for a down payment and can get a three-year car loan at 5.94%. Use PMT= to find the monthly payment and the total interest for the loan. The monthly payment is $ (Round to the nearest cent as needed.) The total interest for the loan is S (Round to the nearest cent as needed.). SEED PA [¹-¹-] 4Suppose you owe $15,000 on a credit card that carries an APR of 24%. Because the balance is so high, you choose to stop charging and pay off the card. You can afford to make only the minimum monthly payment, which is 5% of the balance. Then your balance after t months is given by B = 15,000(1.02 ✕ 0.95)t dollars. How many payments will you have to make to get the balance below $200? (Enter the smallest such number of payments as an integer.)A car dealer offers to buy your car for $9,500 so that you can purchase a new one. If your monthly payment is $464.23 with an annual interest rate of 3.9% and you have 20 more payments remaining, is the present value of your car loan more or less than the amount the dealer is offering? How much Less?
- A used car dealer advertises financing at 0% interest over 3 years with monthly payments. You must pay a processing fee of $500 at signing. The car you like costs $9000. (a) What is your effective annual interest rate? (b) You believe that the dealer would accept $8200 if you paid cash. What effective annual interest rate would you be paying, if you financed with the dealer?Use the PMT function or your buy/rent calculator. You bought a house for $650,000 and had an LTV of 75% on a 15-year amortized loan at 7.25%. What is your payment? (Dollars and cents only, no $. Canvas will add a comma. Need typed answer only.No playgarismYou are to receive $ 400,000 exactly 5years from now. You do not want towait for the money and contact JTGoneworth so that they can "Show youthe money" today. JT Goneworthrequires 6 % interest (annual) on thistype of loan. How much with JTGoneworth pay you TODAY for thisclaim on the money to be received 5years from now? ______