Question

You are going to buy a car that costs $28,000. You have a trade-in valued at $2000 and will finance the remaining cost of the car, you will take out a 4 year loan with an interest rate of 4.36%. What will your monthly payment be? (Enter only numbers and decimals in your response. Round to 2 decimal places.)

You are going to buy a car that costs $28,000. You have a trade-in valued at $2000 and will finance the remaining cost of the car, you will take out a 4 year loan with an interest rate of 4.36%. How much total interest will you have paid once you have paid off the loan? (Enter only numbers and decimals in your response. Round to 2 decimal places.)

Your parents have offered to give you $10,000 for each of the next 5 years. You feel like you could use that money now, so you wan to figure out how much it is worth today. If you think that the relevant interest rate is 5%, what is the present value of the 5 payments?

Answer 1