Question

Justin Chan bought a Scion car for a price of $8,200, putting down $800 and financing...

Justin Chan bought a Scion car for a price of $8,200, putting down $800 and financing the remainder with 60 monthly payments of $179.99. The APR is: Question 6 options: A) Close to 14% B) Between 16.00 and 16.25% C) Close to 15% D) Close to 13½% E) None of these

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
a) Bubba bought a car for $60,000, putting down $20,000 cash and financing the remainder. How...
a) Bubba bought a car for $60,000, putting down $20,000 cash and financing the remainder. How much are his monthly car payments if he financed the car for 6 years and paid a nominal annual interest rate of 6 percent? b) How much will his payments be if he makes the payments at the beginning of each month?
Question 5: A university graduate bought a new car. The cash price is $ 36,000; he...
Question 5: A university graduate bought a new car. The cash price is $ 36,000; he made a $ 2,000 down payment on it. The bank's loan was for 20 months. Finance charges totaled             $ 10,000. What was the monthly payment?              A steel factory bought a new equipment. The cash price of the equipment is $ 18,000, putting down $ 7,600 and financing the remainder with 20 monthly payments of $ 578 each. Find the APR by table lookup.      ...
Harrison has two options for buying a car. Option A is 2.1% APR financing over 60...
Harrison has two options for buying a car. Option A is 2.1% APR financing over 60 months and Option B is 4.1% APR over 60 months with $1600 cash back, which he would use as part of the down payment. The price of the car is $26,064 and Harrison has saved $2600 for the down payment. Find the total amount Harrison will spend on the car for each option if he plans to make monthly payments. Round your answers to...
TVM Assignment Please answer the question in an excel spreadsheet with the formulas showing. Part VI:...
TVM Assignment Please answer the question in an excel spreadsheet with the formulas showing. Part VI: Car Loan You are looking to buy a 2018 Ford Focus Titanium Hatchback with sunroof and leather seats at a price of $26,000. Being a college student, you have cash to pay taxes, title, license and fees but your parents offer to give you 10% of the price, $2,600, as a down payment and you need to finance the remainder of $23,400. You smartly...
QUESTION 1 [13 MARKS] Write down only the letter corresponding to your choice next to the...
QUESTION 1 [13 MARKS] Write down only the letter corresponding to your choice next to the question number. 1.1. A random variable that can assume only a finite number of values is referred to as a a) Infinite sequence b) Finite sequence c) Discrete random variable d) Discrete probability function e) All of the above 1.2 Which one of the following statements is incorrect? a) A data set provides information about people, objects or other entities. b) If the possible...
4. The Mycroft Inquiries Group has a price-earnings ratio of 17.5, net income of $194,000, a...
4. The Mycroft Inquiries Group has a price-earnings ratio of 17.5, net income of $194,000, a book value per share of $22.22, and 70,000 shares of stock outstanding. What is its market to book ratio? 5.      Moriarity Ltd has adopted a policy whereby it will maintain a constant debt-equity ratio. Given this, what is its maximum growth rate if it has net income of $9,600, total equity of $66,000, total assets of $150,000 and a 30% dividend payout ratio? 6.     ...
1. John invested $20,000 fifteen years ago with an insurance company that has paid him 8...
1. John invested $20,000 fifteen years ago with an insurance company that has paid him 8 percent (APR), compounded quarterly (every 3 months). How much interest did John earn over the 15 years? a. $2,416.08 b. $45,620.62 c. $24,000.00 d. $28,318.95 e. $65,620.62 2. You are running short of cash and really need to pay your tuition. A friend suggests that you check out the local title pawn shop. At the shop they offer to loan you $5,000 if you...
QUESTION 1 All of the followings are the rights and privileges of a Common Stockholders EXCEPTING:...
QUESTION 1 All of the followings are the rights and privileges of a Common Stockholders EXCEPTING: a. Voting/Proxy Rights b. Right to Dividends c. Residual Right d. Pre-emptive Right e. Right to Interest Payments 10 points    QUESTION 2 Your best friend's parents want to buy a home in the Worcester County, but they don’t know the exact amount of money that they can afford to borrow. They can afford monthly payments of $ 1,800. A friendly bank in Worcester...
3.When closing entries are made:Immersive Reader (1 Point) All ledger accounts are closed to start the...
3.When closing entries are made:Immersive Reader (1 Point) All ledger accounts are closed to start the new accounting period. All real accounts are closed but not the nominal accounts. All balance sheet accounts are closed. All temporary accounts are closed but not the permanent accounts. All permanent accounts are closed but not the nominal accounts. 4.A wholesaler is an intermediary that buys products from manufacturers or other wholesalers and sells them to consumers.Immersive Reader (1 Point) True False 5.The Merchandise...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary...
Please answer the following Case analysis questions 1-How is New Balance performing compared to its primary rivals? How will the acquisition of Reebok by Adidas impact the structure of the athletic shoe industry? Is this likely to be favorable or unfavorable for New Balance? 2- What issues does New Balance management need to address? 3-What recommendations would you make to New Balance Management? What does New Balance need to do to continue to be successful? Should management continue to invest...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT