You look at your budget and decide that you can afford $280 per month for a car. What is the maximum loan you can afford if the interest rate is 4% and you want to repay the loan in 6 years? (Round your answer to the nearest cent.)

you want to buy a car and a local bank will lend you 15000. the loan will be fully amortized over 5 years and the nominal interest rate will be 10% with interest paid monthly. What will be the monthly loan payment and what will be the loan's EAR?

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 are going to buy an apartment, and are borrowing 5 000 000 from a bank for 10 years. The interest rate is 3% (APR), the payments are monthly. How much is the EAR that the bank will earn from the loan?

You want to buy a $194,000 home. You plan to pay 20% as a down payment, and take out a 3.3% APR loan for the rest. a) How much is the loan amount going to be? b) What will your monthly payments be if the length of the loan is 10 years? c) What will your monthly payments be if the length of the loan is 20 years? $ d) Over the course of the entire loan, how much more do you end up paying with the longer loan? (Hint: take the difference of the total amounts paid) $4 %24 %24 %24

Suppose you want to buy a car right now. Your credit is pretty good so you can get an 4% I interest rate on the loan for the car. You can afford to make payments of $300 each month. You would like to pay this loan back over 4 years.    How much car can you afford?

You are thinking about buying a house, and you have one in mind that costs $600,000. The bank is offering 6% loans and requires a 15% down payment. What is the most you can borrow? What will your monthly payment be on a 30 year loan? How much principal will you still owe after 6 years?

You want to buy a car and will need a loan of $22011. This will be a 36 -month loan. If the annual interest rate is 3%, what will be your monthly payment

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 want to buy a $188,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan at 3.4% interest for the rest. a) How much is the loan amount going to be? $ b) What will your monthly payments be? $ c) How much total interest do you pay? $ d) Suppose you want to pay off the loan in 15 years rather than 30. What will your monthly payment be? $ e) How much money in interest will you save if you finance for 15 years instead of 30 years?