Suppose that you borrow $11,000 for four years at 6%toward the purchase of a car. Find the monthly payments and the total interest for the loan.
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Suppose that you borrow $11,000 for four years at 6%toward the purchase of a car. Find the monthly payments and the total interest for the loan.
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- Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly payments and the total interest for the loan.Suppose that you borrow $17,000 for five years at 6% toward the purchase of a car. Find the monthly payments and the total interest for the loan. The monthly payment is $Suppose you borrow 11,000 for 5 years at 6% towards the purchase of a car. What would be the monthly payments and total interest for the loan?
- Suppose that you borrow $20,000 for four years at 8% toward the purchase of a car. Find the monthly payment and the total interest for the loan.Suppose you purchase a car for a total price of $25,445, including taxes and license fee, and finance that amount for 4 years at an annual interest rate of 8%. Please provide step by step to find the monthly payment and what is the total amount of interest paid over the term of the loan? ThanksSuppose you purchase a car for a total price of $24,790 including taxes and licensee and finance that amount for five years at an annual interest rate of 6%. (Round your answer to the nearest cent) Find the monthly payment? What is the total amount of interest paid over the term of the loan?
- Suppose you purchase a car for a total price of $21,750, including taxes and license fee, and finance that amount for 7 years at an annual interest rate of 6%. (Round your answers to the nearest cent.) (a) Find the monthly payment.$ (b) What is the total amount of interest paid over the term of the loan?$Suppose you borrow $21,000 from your bank to buy a car. You agree to pay $433.89 per month for 60 months. What is the interest rate (APR) for the loan?If you take out an $8,000 car loan that calls for 7 annual payments of $2,400 each. What is the interest rate?
- Suppose that you borrow $200,000 in the form of a 12-year loan with an annual interest rate of 6% with monthly payments and monthly compounding. How much principal will you pay in the last year of the loan? Please describe how to solve using a financial calculator thank you.Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments are $987 per month, and the total finance charge is $9,432. After 25 months, you decide to pay off the loan. After calculating the finance charge rebate, find your loan payoff (in $).Suppose you take out an auto loan for $25,500 over a period of six years at an APR of 7.5%. Determine your monthly payments, the total amount paid, and the percent paid toward interest.