You wish to buy a $10,900 dining room set. The furniture store offers you a 2-year loan with an APR of 7.2 percent. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

You borrowed $18,000 from a friend and promised to pay the loan in 12 equal annual installments beginning one year from the date of the loan. Your friend would like to be reimbursed for the time value of money at a 9% annual rate. What is the annual payment you must make to pay back your friend? Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar amount. Show less Table, Excel, or calculator function not attempted Present Value: not attempted n = not attempted i = not attempted Annual Installment:

How much do you still owe on your auto loan if you have 47 remaining monthly payments of $543 with annual interest of 6.9 percent assuming monthly compounding? Answer to the nearest dollar amount, and enter without the dollar sign.

Kangaroo Autos is offering free credit on a new $13,500 car. You pay $1,500 down and then $400 a month for the next 30 months. Turtle Motors next door does not offer free credit but will give you $1,070 off the list price.   a. If the rate of interest is 0.70% a month, calculate the present value of the payments to Kangaroo Autos. (Do not round intermediate calculations. Round your answer to 2 decimal places.)           b. Which company is offering the better deal?   multiple choice Turtle Motors Kangaroo Autos

Saved Big Dom's Pawn Shop charges an interest rate of 25.5 percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers. a. What rate should the shop report? (Do not round intermediate calculations.) b. What is the effective annual rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. APR b. EAR

You have a balance of $12,000 for your tuition on your American Express credit card. Assume that you make no more charges on the card. Also assume that American Express charges 15% APR and that each month you make only the minimum payment of 5% of the balance. What percentage of the previous balance is paid off each month? Round the percentage to two decimal places. (Hint: Construct a formula for the balance after t minimum payments and simplify the decay factor in order to answer this question.) 3.34 × % Submit Answer Home My Assignments Request Extension

Mr. Bean wants to borrow $8,200 for three years. The Interest rate Is 5.5% compounded monthly. a. What quarterly payments are required on the loan? (Do not round intermediate calculations and round your final answer to 2 decimal places.) PMT $ b. What will be the balance owed on the loan at the start of the third year? (Round PMT calculation to 2 decimal places. Do not rou other intermediate calculations and round your final answer to 2 decimal places.) Balance owed

Karim Darmati must pay a $6,750 furniture bill. A finance company will loan Karim $6,750 for 8 months at a 10.20% discount rate. The finance company told Karim that if he wants to receive exactly $6,750, he must borrow more than $6,750        M = Proceed    1 – (D)(T). Calculate Karim’s loan request. (Do not round intermediate calculations. Round your final answer to the nearest cent.) Calculate the effective rate of interest. (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.)

If you buy a computer directly from the manufacturer for $2,634 and agree to repay it in 36 equal installments at 1.81% interest per month on the unpaid balance, how much are your monthly payments? How much total interest will be paid? Your monthly payment is $ (Round to two decimal places.) Incorrect: 0 ti, 14e

I want to borrow $700 for ten days from a payday loan store. Here are the terms for the payday loan: "The payday loan finance charge is $12 per $100 borrowed up to $400, and $10 per 100 on the amount over $400." A. What is the dollar amount of interest I am paying?  B. What is the APR of this loan?