Suppose Capital One is advertising a 60-month, 5.98% APR motorcycle loan. If you need toborrow $9,200 to purchase your dream Harley-Davidson, what will be your monthly payment?(Note: Be careful not to round any intermediate steps less than six decimal places.)If you can show the steps on excel, would be perfect!

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

Answered: Suppose Capital One is advertising a…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

Suppose Capital One is advertising a 60-month,5.85% APR motorcycle loan. If you need to borrow $7,100 to purchase your dream Harley-Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.)
Suppose Capital One is advertising a 60-month, 5.08% APR motorcycle loan. If you need to borrow $9,500 to purchase your dream Harley-Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.)
Suppose Capital One is advertising a 60-month, 5.83% APR motorcycle loan. If you need to borrow $9,100 to purchase your dream Harley Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places) Your monthly payment will be $ (Round to the nearest cont.)
Suppose Capital One is advertising a 60-month, 5.14% APR motorcycle loan. If you need to borrow $7,400 to purchase your dream Harley-Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your monthly payment will be $______ (Round to the nearest cent.)
Example : You want to buy a $18,500 car. The company is offering a 3% interest rate for 4 years. What will your monthly payments be? I will do this one for you and show you how I want you to describe your formula/inputs in excel if that is how you choose to go about solving problems 2 through 5 - which I strongly recommend. If you choose to perform the calculations by hand show the formula used with values. Excel: Formula used: PMT Rate input: .03/12 NPer input: 4*12 Pv input: 18500 Answer : $409.49 per month 2. You want to buy a $22,500 car. The company is offering a 4% interest rate for 5 years. a.What will your monthly payments be? Round to the nearest cent .b. Assuming you pay that monthly amount for the entire 5 years, what is the total amount of money you will pay during those 5 years for the car? c.How much interest will you pay during those 5 years?
Suppose Capital One is advertising a 60-month, 5.62% APR motorcycle loan. If you need to borrow $7,200 to purchase your dream Harley-Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your monthly payment will be $ xample Get more help. A ch or enter website name (Round to the nearest cent.) MacBook Pro 6 Clear all 7 & ( 19 & JAAAAR Check answer XE WAT In
Suppose Capital One is advertising a 60-month, 5.81% APR motorcycle loan. If you need to borrow $8,500 to purchase your dream Harley-Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your monthly payment will be $nothing. (Round to the nearest cent.)
Suppose Capital One is advertising a 60 month, 5.58% APR motorcycle loan. If you need to borrow $8100 to purchase your dream Harley- Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.) I keep typing this into my Ti - nspire but it keeps giving me the incorrect answer and I do not know why. (8100*0.465)/ (1 - (1 + 0.465) ^ - 60)) which I know isn't nthe correct monthly payment...
Please show me how to solve this in excel using an excel spreadsheet and please show the excel formulas! Thank You! A house price of $100,000 can be financed with two loans below with monthly payments. The total origination cost associated with these two loans in the table attached is $3000. Alternatively, the borrower can borrow one loan in the amount of $90,000 with monthly payments and origination cost of $2,000. What should the interest rate be on the loan of $90,000 so that the borrower will be indifferent between these two choices?
solve using the appropriate formulas show full workings and find the answer. DONT USE EXCEL TO SOLVE ANYTHING ONLY USE RELEVANT FORMULAS TO SOLVE AND SHOW ALL WORKINGS 5. You have $33,556.25 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $220,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal?
Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments are $989 per month, and the total finance charge is $9,504. After 25 months, you decide to pay off the loan. After calculating the finance charge rebate, find your loan payoff (in $). (Round your answer to the nearest cent.) Need Help? Read It Watch It Master It
Use Excel to answer this question: You want to borrow money from your bank to purchase a car. The maximum amount you are willing to pay is $450 per month. How much can you borrow if the loan lasts for 7 years, your first payment starts today, and the interest rate is 4.5% APR under monthly compounding? $32,495.13 O$29,489.45 O $31,576.98 O $27,456.87

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS