You borrow $6,230 to buy a car. The terms of the loan call for monthly payments for 5 years a rate of interest of 6 percent. What is the amount of each payment? a. $115.26. b. $88.74. c. $113.78. d. $120.44. e. $89.29.

The following loan is a simple interest amortized loan with monthly payments. $7000, 7%, 4 years (a) Find the monthly payment. (Give your answer to the nearest cent.) Payment $189.58 (b) Find the total interest for the given simple interest amortized loan. (Give your answer to the nearest cent.) Total interest $ 2100 X

The following loan is a simple interest amortized loan with monthly payments. $5000, 7 1/2%, 4 years   (a) Find the monthly payment. (Give your answer to the nearest cent.)Payment $ (b) Find the total interest for the given simple interest amortized loan. (Give your answer to the nearest cent.)Total interest $

You want to take out a $250,000 mortgage (home loan). The interest rate on the loan is 5% and the loan is for 25 years. How much will your semi- monthly payments be? a. $655 $622 c. $730 O d. $680 e. $752 O b.

1. Consider a home mortgage of ​$150,000 at a fixed APR of 4.5​% for 25 years.   a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount​ paid, what percentage is paid toward the principal and what percentage is paid for interest.     2. Someone needs to borrow ​$11,000 to buy a car and the person has determined that monthly payments of ​$225 are affordable. The bank offers a 3​-year loan at 7​% ​APR, a 4​-year loan at 7.5​%, or a 5​-year loan at 8​% APR. Which loan best meets the​ person's needs? Explain.       Question content area bottom Part 1 Which loan best meets the​ person's needs? ​(Round to the nearest cent as​ needed.)   A. The first loan best meets the​ person's needs because the monthly payment of ​$enter your response here is less than the maximum budgeted amount of ​$225 per month.   B. The second loan best meets the​ person's needs because the monthly payment of ​$enter your response here…

You obtain a $265,000, 15-year fixed-rate mortgage. The annual interest rate is 6.25 percent. In addition to the principal and interest paid, you must pay $275 a month into an escrow account for insurance and taxes. What is the total monthly payment (to the nearest dollar)? a. $2,272 b. $1,632 c. $2,547 d. $1,907 e. $2,311

You have just taken a 30-year mortgage loan for $200,000. The annual percentage rate on the loan is 6%, and payments will be made monthly. Estimate your monthly payments.   A). $1,245.55   B). $1,188.07   C). $1,205.01   D). $1,199.10   E). $1,263.89   in excel

You want to buy a house and will need to borrow $220,000. The interest rate on your loan is 5.47 percentcompounded monthly and the loan is for 20 years. What are your monthly mortgage payments?Multiple ChoiceA. $1,585.11B. $1459.31 C. $1,530.30D. $1.502.78E. $1,509.63

The following loan is a simple interest amortized loan with monthly payments. $155,000, 9- 9-%, 30 years 2 (a) Find the monthly payment. (Give your answer to the nearest cent.) Payment $ (b) Find the total.interest for the given simple interest amortized loan. (Give your answer to the nearest cent.) Total interest | Enter a number.

1. Consider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using the average balance method). b. How much would you pay in total for interest?