aying monthly payments of $480 each, the first payment to be made one month after the purch The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PVC 1. FV of $1. PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 ecimal places. Monthly Payment able Values are Based on: n i = = Table Factor Present Value of Loan
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- Dave Krug finances a new automobile by paying $7,100 cash and agreeing to make 20 monthly payments of $480 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)Dave Krug finances a new automobile by paying $7,100 cash and agreeing to make 10 monthly payments of $540 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Monthly Payment Table Values are Based on: Present Value of Loan n i Table Factor Cash Down Payment Present Value of Loan Cost of the AutomobileDave Krug finances a new automobile by paying $7,300 cash and agreeing to make 30 monthly payments of $460 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Monthly Payment Table Values are Based on: Present Value of Loan n i X = = + Table Factor Cash Down Payment = Present Value of Loan Cost of the Automobile
- Dave Krug finances a new automobile by paying $6,800 cash and agreeing to make 40 monthly payments of $580 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1. EV of $1. PVA of $1. and EVA of $1) Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places. Monthly Payment 580 Table Values are based on: Present Value of Loan n = Table Factor $ 40 12% Cash Down Payment 6,800 - Present Value of Loan Cost of the AutomobileDave Krug finances a new automobile by paying $7,000 cash and agreeing to make 40 monthly payments of $530 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1. EV of $1. PVA of $1, and EVA of S1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Monthly Payment Table Values are Based on: Present Value of Loan n W N Table Factor Cash Down Payment Present Value of Loan Cost of the AutomobileCompute the monthly payment and the total amount spent for a vehicle that costs $24,000 if you finance the entire purchase over 5 years at an annual rate of 8 25 percent. Calculate the payment if you finance the car for only four years. Finally, calculate the payment for three years. What do you notice about the payment under the different time assumptions? Note: Round intermediate computations to at least five (5) decimal places Click on the table icon to view the MILPF table The monthly payment, PMT, on the 5-year auto loan is $ (Round to the nearest cent.) The total amount spent if you financed $24,000 for 5 years at 8 25 percent per year is $ (Round to the nearest cent.) The monthly payment, PMT, on the 4-year auto loan is $ (Round to the nearest cent.) Finally, the monthly payment, PMT, on the 3-year auto loan is $ (Round to the nearest cent.) What do you notice about the payment under the different time assumptions? (Select the best choice below.) OA. As the number of payments…
- Based on the car you chose (2021 Jeep Wrangler), state: 1. The total price of the car: $38, 5302. Down payment percent: 20%3. Interest rate: 3.79%4. Loan term: 72 Months Calculate: 1. Down payment amount.2. Amount financed (loan amount).3. Monthly payment.4. Total interest paid.5. Amortization schedule for the first three months.Sam would like to use the PMT function in Excel to calculate the monthly payments on a car loan of $35,000 which is to be paid off in full after 3 years. Interest is charged at a rate of 4.43% per year and the payment to the loan is to be made at the end of each month. Which function argument is correct? (Reminder: =PMT(rate, nper, pv, [FV], [type]) =PMT( 4.43%, 36, -35000) =PMT( 4.43%/12, 36, -35000) =PMT( 4.43%/12, 3, -35000) =PMT( 4.43%, 3, -35000)Monthly Payment Dave Krug finances a new automobile by paying $5,800 cash and agreeing to make 30 monthly payments of $440 each, the first payment to be made one month after the purchase. The loan bears interest at an annual rate of 12%. What is the cost of the automobile? (PV of $1, FV of $1, PVA of $1, and FVA of $1) $ 440 Table Values are Based on: Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places. Present Value of Loan n i G II + O Answer is not complete. Table Factor 29.9599 X 30 1% Cash Down Payment 5,800 TOTT Present Value of Loan Cost of the Automobile
- Save & Exit Submit Donny borrows $37,000 to purchase a high-performing computer. The loan will be paid in monthly installments over one year at 12% interest annually The first payment is due one month from today. What is the amount of each monthly payment? (FV of $1. PV of $1. FVA of $t. PVA of St. EVAD of $t and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 5-50 Multiple Choice None of these answer choices are correct. $3.083 $3.287 $3.039 < Pre of MC Graw MacBook AirMiller borrows $370,000 to be paid off in four years. The loan payments are semiannual with the first payment due in six months, and interest is at 8%. What is the amount of each payment? Note: Use tables, Excel, or a financial calculator. Round your final answer to the nearest whole dollar. (FV of $1, PV of $1, FVA of $1, and PVA of $1). Multiple Choice О $62,451 О $118,400 $122,549 О $54,955A cloud storage engineer purchased a new car for $31,990. Complete the table below to determine the cost of owning the car for the first year of ownership. Assume the car has an average fuel efficiency of 35 miles per gallon and a 4-year loan at an annual interest rate of 3.75% on the purchase price less the down payment. (Round your answers to the nearest cent.) What are the loan payments for 1 year?