S Cars Just sold you a clunker (you need it to get to class on time). You financed the $4,728.48 purchase price for 24 months. They said your payment
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- Suppose you want to buy a car. You have surveyed the dealers' newspaper advertisements, and the one shown has caught your attention. You can afford to make a down payment of $2,678.95, so the net amount to be financed is $20,000.(a) What would the monthly payment be?(b) After the 25th payment, you want to pay off the remaining loan in a lumpsum amount. What is this lump sum?Sultan’s Used Cars just sold you a clunker (you need it to get to class on time). You financed the $8,000 purchase price for 48 months. They said your payment would be $250. What interest rate did they charge you (assume monthly compounding)?A car dealer will sell you a used car for $6798 with $798 down and payments of $162.51 per month for 47 month for 48 months. What is the simple interest rate ?
- Suppose that you decide to buy a car for $26,635, including taxes and license fees. You saved $7000 for a down payment and can get a five-year car loan at 7.71%. Use PMT= find the monthly payment and the total interest for the loan. CE to [-]Suppose that you decide to buy a car for $25,635, including taxes and license fees. You saved $6000 for a down payment and can get a four-year car loan at 6.53%. Use PMT= total interest for the loan. tbook The monthly payment is $Suppose that you decide to buy a car for $27,635, including taxes and license fees. You saved $7000 for a down payment and can get a four-year car loan at 7.12%. Use PMT= to find the monthly payment and the total interest for the loan. The monthly payment is $ (Round to the nearest cent as needed.) D PA
- Suppose that you decide to buy a car for $26,635, including taxes and license fees. You saved $7000 for a down payment and can get a three-year car loan at 5.94%. Use PMT= to find the monthly payment and the total interest for the loan. The monthly payment is $ (Round to the nearest cent as needed.) The total interest for the loan is S (Round to the nearest cent as needed.). SEED PA [¹-¹-] 4You just bought a used car for $11,000 with no down payment using dealer financing at 4% APR compounded monthly. If you make monthly payments of $300, how many months will it take you to payoff the loan? Your Answer: AnswerSuppose you owe $15,000 on a credit card that carries an APR of 24%. Because the balance is so high, you choose to stop charging and pay off the card. You can afford to make only the minimum monthly payment, which is 5% of the balance. Then your balance after t months is given by B = 15,000(1.02 ✕ 0.95)t dollars. How many payments will you have to make to get the balance below $200? (Enter the smallest such number of payments as an integer.)
- A car dealer offers to buy your car for $9,500 so that you can purchase a new one. If your monthly payment is $464.23 with an annual interest rate of 3.9% and you have 20 more payments remaining, is the present value of your car loan more or less than the amount the dealer is offering? How much Less?A used car dealer advertises financing at 0% interest over 3 years with monthly payments. You must pay a processing fee of $500 at signing. The car you like costs $9000. (a) What is your effective annual interest rate? (b) You believe that the dealer would accept $8200 if you paid cash. What effective annual interest rate would you be paying, if you financed with the dealer?Use the PMT function or your buy/rent calculator. You bought a house for $650,000 and had an LTV of 75% on a 15-year amortized loan at 7.25%. What is your payment? (Dollars and cents only, no $. Canvas will add a comma. Need typed answer only.No playgarism