Suppose that you borrow $11,000 for four years at 6%toward the purchase of a car. Find the monthly payments and the total interest for the loan.
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Suppose that you borrow $11,000 for four years at 6%toward the purchase of a car. Find the monthly payments and the total interest for the loan.
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- Suppose that you borrow $20,000 for four years at 8% toward the purchase of a car. Find the monthly payment and the total interest for the loan.Suppose that you borrow $17,000 for five years at 6% toward the purchase of a car. Find the monthly payments and the total interest for the loan. The monthly payment is $Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly payments and the total interest for the loan.
- Suppose you purchase a car for a total price of $25,445, including taxes and license fee, and finance that amount for 4 years at an annual interest rate of 8%. Please provide step by step to find the monthly payment and what is the total amount of interest paid over the term of the loan? ThanksSuppose you purchase a car for a total price of $24,790 including taxes and licensee and finance that amount for five years at an annual interest rate of 6%. (Round your answer to the nearest cent) Find the monthly payment? What is the total amount of interest paid over the term of the loan?Suppose you borrow 11,000 for 5 years at 6% towards the purchase of a car. What would be the monthly payments and total interest for the loan?
- Suppose you purchase a car for a total price of $22,565 including taxes and license fee, and finance that amount for 7 years at an annual interest rate of 6%. (Round your answer to the nearest cent) a)find the monthly payment? b) what is the total amount of interest paid over the term of the loan?Suppose you borrow $21,000 from your bank to buy a car. You agree to pay $433.89 per month for 60 months. What is the interest rate (APR) for the loan?If you take out an $8,000 car loan that calls for 7 annual payments of $2,400 each. What is the interest rate?
- Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments are $987 per month, and the total finance charge is $9,432. After 25 months, you decide to pay off the loan. After calculating the finance charge rebate, find your loan payoff (in $).Suppose that you borrow $200,000 in the form of a 12-year loan with an annual interest rate of 6% with monthly payments and monthly compounding. How much principal will you pay in the last year of the loan? Please describe how to solve using a financial calculator thank you.Suppose that you decide to borrow $35,000 for a new car. You can select one of the following loans, each requiring regular monthly payments: Installment Loan A: three-year loan at 6% Installment Loan B: five-year loan at 9%. Find the monthly payments and the total interest for Loan A. Find the monthly payments and the total interest for Loan B. Compare the monthly payments and total interest for the two loans. Use this formula to find the monthly payments: