Question

Use your financial calculator to compute the monthly payments for a vehicle that costs $13,100 if you financed the entire purchase over four years at an annual interest rate of 6.5 percent. Also calculate the loan payments assuming rates of 5.5 percent and 7.5 percent. Compare the total amount spent on the vehicle under each assumption.

The monthly payments for a vehicle that costs $13,100 if you financed the entire purchase over four years at an annual interest rate of 6.5 percent is $

Answer #1

Loan Amount = $13,100

Time Period = 4 years = 48 months

If, Interest Rate = 6.5%

Calculating Monthly Payment,

Using TVM Calculation,

PMT = [PV = 13100, FV = 0, T = 48, I = 0.065/12]

PMT = $310.67

Monthly Payment = $310.67

Total Amount Paid = 48(310.67) = $14,912.16

If, Interest Rate = 5.5%

Calculating Monthly Payment,

Using TVM Calculation,

PMT = [PV = 13100, FV = 0, T = 48, I = 0.055/12]

PMT = $304.66

Monthly Payment = $304.66

Total Amount Paid = 48(304.66) = $14,623.68

If, Interest Rate = 7.5%

Calculating Monthly Payment,

Using TVM Calculation,

PMT = [PV = 13100, FV = 0, T = 48, I = 0.075/12]

PMT = $316.74

Monthly Payment = $316.74

Total Amount Paid = 48(316.74) = $15,203.52

Use your financial calculator to compute the monthly payments
for a vehicle that costs $13 comma 900 if you financed the entire
purchase over four years at an annual interest rate of 6.25
percent. Also calculate the loan payments assuming rates of 5.25
percent and 7.25 percent. Compare the total amount spent on the
vehicle under each assumption.
The monthly payments for a vehicle that costs $13 comma 900 if
you financed the entire purchase over four years at an...

Use your financial calculator to compute the monthly payments
for a vehicle that costs $15,000 if you finance the entire purchase
over 4 years at an annual interest rate of 6 percent. Also,
calculate the loan payments assuming rates of 5 percent and 7
percent. Compare the total amount spent on the vehicle under each
assumption.

EXHIBIT 5.9
A Table of Monthly Mortgage Payments (Monthly Payments
Necessary to Repay a $10,000 Loan)
The monthly loan payments on a mortgage vary not
only by the amount of the loan, but also by the rate of interest
and loan maturity.
LOAN MATURITY
Rate of Interest
10 Years
15 Years
20 Years
25 Years
30 Years
5.0%
$106.07
$79.08
$66.00
$58.46
$53.68
5.5
108.53
81.71
68.79
61.41
56.79
6.0
111.02
84.39
71.64
64.43
59.96
6.5
113.55
87.11
74.56
67.52...

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loan is for 5 years. You sell it in either case for $20,000. Define
the life cycle cost of the boat purchase and the annual outlay for
payments under each scenario. PLEASE INCLUDE A CASH FLOW DIAGRAM or
I will not rate. Thank you!

Compare the purchase of a boat, using annual vs monthly
payments. The boat costs $50,000. The interest rate is 12%. The
loan is for 5 years. You sell it in either case for $20,000. Define
the life cycle cost of the boat purchase and the annual outlay for
payments under each scenario. PLEASE INCLUDE A CASH FLOW DIAGRAM or
I will not rate. Thank you!

Use your financial calculator to determine the monthly payments
for each of the following $119, 800 mortgage loans. Assume no
prepayments.
a. 30-year fixed at 7.75 percent
b. 15-year fixed at 6.75 percent
c. 20-year fixed at 7.25 percent
. a. The monthly payment, PMT, on the 30-year loan is
$_______ . (Round to the nearest cent.)
. b. The monthly payment, PMT, on the 15-year loan is
$_______ . (Round to the nearest cent.)
. c. The monthly payment,...

You just purchased a new car for $45,000. Your down payment on
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You borrow $210,000 to purchase a home. The terms of the loan
call for monthly payments over 30 years at a mortgage rate of 4.50
percent. What percentage of your first 36 months' total payments go
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A.
81 percent
B.
72 percent
C.
65 percent
D.
59 percent

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??????Car B $24,000 purchase price????$21,5000 purchase price
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Group of answer choices
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