Tasha borrowed $18000 to purchase a new car at 11% APR, with monthly payments of $391.36 for 5 years. How much will she have paid in all after 5 years? Round to the nearest cent (2 places)
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- Samuel Ames owes 20,000 to a friend. He wants to know how much he would have to pay if he paid the debt in 3 annual installments at the end of each year, which would include interest at 14%. Draw a time line for the problem. Indicate what table to use. Look up the table value and place it in a brief formula. Solve.Sara deposited $3000 in an account that earns 5.5% simple interest. How much money will be on Sara's account (Principle + interest) in 5 years from now?Round to the nearest cent.Armita is saving for the down payment on a house. She deposits $12,500.00 today, $8,250.00 in 4 months, and $6,900.00 in 3 years. The account earns interest at the rate i(1)= 8.788%. How much does she have in her account after 6 years?
- Can you show me how this is done? Ava Darling plans to buy a home and can deposit $1,703 per year for the next 5 years.. If the annual interest rate is 6%, how much can Ava Darling expect to have for a down payment in 5 years? Selected Answer: 65,579 Correct Answer: 9,600 ± 5Trevor took a loan of $7,700 from her parents to purchase equipment for her hair salon. If they agreed on an interest rate of 7% compounded monthly on the loan, what quarterly payments will settle the loan in 5 years if she made her first payment 3 years and 4 months from now? O $570.55 O $507.23 O $460.08 O $409.02Determine whether each scenario below is a savings/investments question or a loans question. 1. Sabrina finances a $21,999 car at 4.25% APR over 5 years. If she makes a down payment for $5,000, how much will she end up paying in interest for the car? 2. Alejandro deposits $1,500 into an investment account with an APR of 2.25% compounded monthly. How much does Alejandro need to put into his account each month in order to have $5,000 in 3 years to purchase a car in cash? 3. Amy wants to buy a house for $150,000. She doesn't have enough yet for a 20% down payment. If she puts $2,000 into the account now and $500 every month, how long will it take for her to have enough for a 20% down payment to buy this house? 4. Arnie paid $500 for his $1,200 laptop. If he finances the rest at 6.75% over 24 months, how much money will he end up paying in total for this laptop?
- Pat Lavoie bought a home for $180,000 with a down payment of $10,000. Her rate of interest is 6% for 30 years. (Use Table 15.1.) ****TABLE ATTACHED****** a. Calculate her monthly payment Monthly Payment= b. Calculate her first payment, broken down into interest and principal. First payment interest= First payment Principal= c. Calculate her balance of mortgage at the end of the month. Balance of mortgage=Fatema has decided to invest BD 1500 in a savings account paying 4% interest compounded quarterly. If she leaves his money in the account for 7 years, how much she will get back in total? a. BD1981.94 b. BD1881.46 c. BD1139.87 d. BD1919 Please answer fast I give you upvoteSarah graduated from college with $29000 in student loan debt. The annual rate on her loans is 6 percent simple interest, and she will make monthly payments for 10 years. What is the remaining balance on her loan after five years, or 60 months? (Hint: Use the amortization function on your financial calculator or Excel Worksheet 5.6.) O $14500 O $16654 O $9682 $19318
- When Maria Acosta bought a car 2 owe just after her payment at the 2 $ years ago, she borrowed $13,000 for 48 months at 6.6 % compounded monthly. Her monthly payments are $308.89, but she'd like to pay off the loan early. How much will she -year mark? (Round your answer to the nearest cent.)April borrows $20000 at an interest rate of 7% to purchase a new automobile. At what rate (in dollars per year) must she pay back the loan, if the loan must be paid off in 5 years? (Use decimal notation. Give your answer to two decimal places.) withdrawal rate: $ per yearYolanda deposited $1,600 at the end of each six months for 2 years in a savings account. If the account paid 8% interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.) qu Need Help? Read It Watch It Master It