Assume that you take out a $2000 loan for 30 months at 9.5% APR. what is the monthly payment round to the nearest cent - $75.16 Make payment for every months 30 months of interest payment- $2254.8 Make payment you calculate every month for 30 months what is the dollar amount interest - $225.8 I need help with this question If you make the payment you just calculate every month for 30 months, what is the percentage of interest paid altogether? Round the percentage to one decimal place?
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- Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments are $989 per month, and the total finance charge is $9,504. After 25 months, you decide to pay off the loan. After calculating the finance charge rebate, find your loan payoff (in $). (Round your answer to the nearest cent.) Need Help? Read It Watch It Master ItYou are looking to buy a car that costs $30,000. Your payment is $400/month for 60 months. If you want to know your interest rate on this loan, you can use Excel. Excel returns a RATE of 0.70%. What is your APR? 8.45% 2.75% 3.24% 0.70%Use Excel to answer this question: You want to borrow money from your bank to purchase a car. The maximum amount you are willing to pay is $450 per month. How much can you borrow if the loan lasts for 7 years, your first payment starts today, and the interest rate is 4.5% APR under monthly compounding? $32,495.13 O$29,489.45 O $31,576.98 O $27,456.87
- Consider a credit card with a balance of $7000 and an APR of 12.5%. If you want to make monthly payments in order to pay off the balance in 11 year, what is the total amount you will pay? Round your answer to the nearest cent, if necessary.you are analyzing a GPM. the terms are $60,000 loan amount, 9% note rate, 30 years, monthly payments, OFV, payments in year one based based upon 7%, and payment in year two based on 8%. how much will you owe on this loan at the end of the second year? Please assist, using HP 10bII+.Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Use PMT = to find the monthly payments and the total interest for - nt 1- the loan. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for the loan is $ (Use the answer from part (a) to find this answer. Round to the nearest cent as needed.)
- Suppose you take out a home mortgage for $160,000 at a monthly interest rate of 0.6%. If you make payments of $1200/month, after how many months will the loan balance be zero? Estimate the answer by graphing the sequence of loan balances and then obtain an exact answer. Graph the sequence of loan balances. Choose the correct graph below. O A. 160,000 its 125 months loan balance 150 Q Q The loan balance will be zero after 269 months. (Round up to the nearest month.) O B. loan balance 160,000 125 150 months Q O loan balance 160,000 260 290 months Q O D. 160,000 it loan balance 260 ¹290 months Ⓒ Q4. Consider a credit card with a balance of $7000. You wish to pay off the credit card, which has an APR of 17.99%, within 1 year. Calculate the following. Round your answer to the nearest cent, if necessary. a. Find the number of months you will need to pay the credit card if you pay $585 per month. b. Will you meet your goal and have the credit card paid in one year?Can I get some assistance setting this problem up: Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 30 days, you make a partial payment of $1,500. After another 60 days, you make a second partial payment of $2,000. What is the final amount (in $) due on the loan? (Round your answer to the nearest cent.) $
- Your local loan shark offers weekly payday loans: You can borrow $1,000 and pay back $1,050 one week later (or lose a finger or two). a. What is the effective annual rate on the loan? b.Use the PMT function in Excel to compute the monthly payment on a home each month if you borrowed 770,000 at an annual interest rate 5.82% over 30 years, where the interest is compounded monthly. Fv and type are not necessary ignore them. Please I don’t have excel, I could really use the help.Suppose that you borrow $17,000 for three years at 8% toward the purchase of a car. Use PMT= PA [---] -nt The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.) to find the monthly payments and the total interest for the loan.