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

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 want to buy a $130,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan at 6.25% interest for the rest. The bank will charge 3 points on the amount financed.a) What is the amount of the down payment?b) How much is the loan amount going to be?c) What will be the amount charged for 3 points?d) Find the amount of the monthly payment.

You just borrowed $10,000 at a rate of i(¹2)=8% per year and you pay $150 per month, starting in one month: a) How long do you expect to be paying the loan? b) If you paid the loan off with a balloon payment, how large would that payment be? c) If you paid the loan off with a drop payment, how large would that payment be?

You buy a house for $250,000 and pay $50,000 down.  The loan is for 25 years at 6% monthly.  What is the payment?

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

You want to buy a $13,000.00 car. You can make a 10% down payment, and will finance the balance with a 3% interest rate for 36 months (3 years). What will your monthly payment be? My monthly payment will be $______

You buy a new truck for your trailer that costs $55,000. What are your monthly payments for a 5 year loan assuming an annual interest rate of 4.75%? Your down payment was $10,000. Make sure your answer is shown to the nearest whole cent.

Suppose you want to buy a $159,000 home. You found a bank that offers a 30-year loan at 3.3% APR. What will be your monthly payment? (Round to the nearest cent.) How much would you end up paying the bank for the home after 30 years? (Round to the nearest cent.) $ Suppose you wanted to reduce the time of your loan to 25 years. What would be your new monthly payment? (Round to the nearest cent.) $ How much would you end up paying the bank for the home after 25 years? (Round to the nearest cent.) $ How much did you save by reducing the time of your mortgage loan? (Round to the nearest cent.) $

You lend $450 to a friend who promises to make 4 payments to you of $120 at the end of 6 months, 12 months, 18 months and 24 months. Draw a timeline from your perspective. If you can reliably earn 5% per year, what is the net present value (NPV) of this loan?