Question

Jacinda Herschel wants to buy a car and determines she can afford to pay $348.67 a...

Jacinda Herschel wants to buy a car and determines she can afford to pay $348.67 a month for a 4 year loan. The rate on such a loan is 0.0333. How much money can Jacinda borrow?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Jill wants to buy a car but needs to calculate how much she can afford to...
Jill wants to buy a car but needs to calculate how much she can afford to borrow. The maximum she can repay is $1600 at the end of each quarter and the bank has indicated it will charge a fixed 7.1% p.a compounding quarterly. If she takes a loan for 4 years how much can she afford to borrow? (Do not use the $ sign or commas; include cents e.g 24500.09)
Q1: Jill wants to buy a car but needs to calculate how much she can afford...
Q1: Jill wants to buy a car but needs to calculate how much she can afford to borrow. The maximum she can repay each month-end is $560 per month and the bank has indicated it will charge a fixed 8.0% p.a compounding monthly. If she takes a loan for 5 years how much can she afford to borrow? (Do not use the $ sign or commas; include cents e.g 24500.09) Q2: Payments of $200 per month are deposited into a...
Marie can afford a $250 per month car payment. She's found a 5 year loan with...
Marie can afford a $250 per month car payment. She's found a 5 year loan with an annual rate of 7% compounded monthly. How expensive of a car can she afford? How much total money will she pay the loan company? How much of that money is interest?
You want to buy a new car. You can afford payments of $300 per month and...
You want to buy a new car. You can afford payments of $300 per month and can borrow the money at an annual interest rate of 5.5% compounded monthly for 5 years. How much are you able to borrow? $ How much interest do you pay? $
You want to buy a new car. You can afford payments of $500 per month and...
You want to buy a new car. You can afford payments of $500 per month and can borrow the money at an annual interest rate of 5.1% compounded monthly for 5 years. How much are you able to borrow? $ How much interest do you pay? $
Mary can afford $175 a month for 4 years for a car loan. If the interest...
Mary can afford $175 a month for 4 years for a car loan. If the interest rate is 4.1% compounded monthly, how much can she afford to borrow to purchase a car? Group of answer choices $8,115 $5,939 $5,165 $7,735 $4,328
a)Maria wants to buy a car. She has saved $2,500 for a down payment, and she...
a)Maria wants to buy a car. She has saved $2,500 for a down payment, and she can afford payments of $250 per month for 5 years. Her credit union has offered her an auto loan that charges 4.8% per year compounded monthly for 5 years. What is the largest loan she can afford? What is the most expensive car she can afford? b) Find the interest rate needed for an investment of $5100 to triple in 6 years if interest...
Mary and Mike are friends and each of them wants to buy a used car. After...
Mary and Mike are friends and each of them wants to buy a used car. After reviewing their budgets each of them decides that they want a maximum monthly car payment of $350 each. Mary has excellent credit and can qualify for a 60 month car loan at 3.5%. Mike has bad credit and can qualify for a 60 month car payment at 18%. 1. How much car can Mary afford to buy? 2. How much car can Mike afford...
Complete the following problems using either a financial calculator or a spreadsheet program. Do not use...
Complete the following problems using either a financial calculator or a spreadsheet program. Do not use interim rounding, state your answers as positive values, to two decimal places for dollar or period values and four places for percentages stated as decimals; do not label answers with symbols such as $ or %. For example, 10.5% should be input as .1050. If he wants to buy a car and determines she can afford to pay $260.78 a month for a 4...
2. Suppose a client is in the market for a car. The client can afford to...
2. Suppose a client is in the market for a car. The client can afford to spend $500 per month, but she decides it is best to buy a cheap car now and use what is left of the $500 to save for a really nice one later. These savings will earn an effective annual rate of 9% interest. Suppose she decides to borrow $15,000 to buy a used car. The loan is for 48 months at a 7.8% APR....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT