Question

You want to buy a new sports car from Muscle Motors for
$57,500. The contract is in the form of a 60-month annuity due at
an APR of 5.9 percent. What will your monthly payment be?
(Do not round intermediate calculations and round your
answer to 2 decimal places, e.g., 32.16.) |

Monthly Payment= ______

Answer #1

You want to buy a new sports car from Muscle Motors for $86,000.
The contract is in the form of a 72-month annuity due at an APR of
6.8 percent. What will your monthly payment be? (Do not round
intermediate calculations and round your answer to 2 decimal
places, e.g., 32.16.)

You want to buy a new sports car from Muscle Motors for
$37,000. The contract is in the form of an annuity due for 36
months at an APR of 9.50 percent.
What will your monthly payment be?

You want to buy a new sports car from Muscle Motors for
$36,000. The contract is in the form of an annuity due for 60
months at an APR of 9.75 percent.
What will your monthly payment be?
Multiple Choice
$739.26
$760.47
$754.34
$769.43
$716.63

You want to buy a new sports car from Muscle Motors for
$37,000. The contract is in the form of a 36-month annuity due at a
8.25 percent APR.
Required:
What will your monthly payment be?
rev: 09_17_2012
$1,163.72
$1,178.89
$1,155.77
$1,097.98
$1,132.66

You want to buy a new sports car from Muscle Motors for $59,000.
The contract is in the form of a 72-month annuity due at a 7.25
percent APR.
What will your monthly payment be?
A) $1,027.04 B) $986.77 C) $1,012.99 D) $956.56 E) $1,006.91

Answer these 2 separate questions:
1)
You want to buy a new sports car
from Muscle Motors for $36,000. The contract is in the form of a
72-month annuity due at a 6.50 percent APR.
Required:
What will your monthly payment be?
2)
You are looking at a one-year loan of $15,000. The interest rate
is quoted as 9 percent plus 3 points. A pointon a loan is
simply 1 percent (one percentage point) of the loan amount. Quotes...

You want to buy a new sports coupe for $75,500, and the finance
office at the dealership has quoted you a loan with an APR of 7.9
percent for 72 months to buy the car.
a.
What will your monthly payments be? (Do not round
intermediate calculations and round your answer to 2 decimal
places, e.g., 32.16.)
b. What is the effective annual rate on this loan? (Do
not round intermediate calculations and enter your answer as a
percent rounded...

8. You want to buy a new sports car from Muscle Motors for
$68,000. The contract is in the form of a 60-month annuity due at a
7.85 percent annually. What will your monthly payment be? *
a. $1,736.22
b. $1255.29
c. $1450.87
d. $1,373.92
e. None of the above
9. Your uncle has $375,000 and wants to retire. He expects to
live for another 25 years and to earn 7.5% on his invested funds.
How much could he withdraw...

You want to buy a new sports coupe for $43,685, and the finance
office at the dealership has quoted you an 8.4% APR loan for 4
years with monthly payments. What will your monthly payments be?
(Do not include the dollar sign ($). Enter rounded answer as
directed, but do not use the rounded numbers in intermediate
calculations. Round your answer to 2 decimal places (e.g.,
32.16).)

You
want to buy a new sports coup for $76,500, and the finance office
at the dealership has quoted you an APR of 5.8 percent for a 72
month loan to but the car. What will your monthly payment be?
what is the effective annual rate on this loan?

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