Suppose Bill purchases a car and he is going to finance $12,000 for 24 months at an APR of 5.1% compounded monthly. Find the monthly payments on the loan.

You want to buy a $15,000.00 car. You can make a 10% down payment, and will finance the balance with a 5% interest rate for 48 months (4 years). What will your monthly payment be? My monthly payment will be $________

You plan to use a 15 year mortgage obtained from a local bank to purchase a house worth $124,000.00. The mortgage rate offered to you is 7.75%. You will make a down payment of 20% of the purchase price. a. Calculate your monthly payments on this mortgage. List in a spreadsheet the cash flow the bank expects to receive from you. Submit the spreadsheet with your answers. b. Calculate the amount of interest and principal for the 60th payment. Show your work. c. Calculate the amount of interest and principal to be paid on the 180th payment. Show your work. d. What is the amount of interest paid over the life of this mortgage?

You have just taken out a ​$15,000 car loan with a 7% ​APR, compounded monthly. The loan is for 5 years. When you make your first payment in one​ month, how much of the payment will go toward the principal of the loan and how much will go toward​ interest? The amount of your first payment that will go toward the interest of the loan is The amount of your first payment that will go toward the principal of the loan is

Suppose you want to borrow $20,000 for a new car. You can borrow 8% per year, compounded 8 monthly (12 = 0.66667% per month. Take a 4 year loan, what is your monthly payment?

If you borrow $25,000 from a local finance company and you are required to pay $4,424.50 per year for 10 years, what is the annual interest rate on the loan?

You take out a 20​-yearmortgage for ​$310,000 to buy a new house. What will your monthly payments be if the interest rate on your mortgage is 9 percent? Use a spreadsheet to calculate your answer.  ​Now, calculate the portion of the 96th monthly payment that goes toward interest and principal. Use five decimal places for the monthly interest rate in your calculations. a.  Using a spreadsheet to calculate your​ answer, your monthly payments will be ​

You have just purchased a car and taken out a $50,000 loan. The loan has a five-year term with monthly payments and an APR of 6.0%. a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) b. How much will you pay in interest, and how much will you pay in principal, during the fourth year (i.e., between three and four years from now)? (Note: Be careful not to round any intermediate steps less than six decimal places.) a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) During the first month, you will pay $ in principal. (Round to the nearest cent.)

Suppose that you buy a car costing $14,000. You agree to make payments at the end of each monthly period for 4 years. You pay 7% interest, compounded monthly.(a) What is the amount of each payment? (b) Find the total amount of interest you will pay.

A man buys a car for $34,000. If the interest rate on the loan is 12%, compounded monthly, and if he wants to make monthly payments of $900 for 36 months, how much must he put down? (Round your answer to the nearest cent.)$ _____