A car is advertised with a price of $41345. The payment plan to own a car is $416 per month for 3 years. What is the amount of interest paid? Round to the nearest dollar.   Do not put the $ in your answer or any units. Only put the number value for your answer.

Q: An auto dealership is advertising that a new car with a sticker price of $33,408 is on sale for…

A:

Q: A company offers a deferred payment option for the purchase of any furniture, Gladys plans to buy a…

A: Compound interest is an important topic to grasp while managing money. It could help to earn a…

Q: What is the amount of interest paid?

A: Interest is the cost of borrowing a loan. It is the excess amount over the principal borrowing. It…

Q: You carry over a balance of $400 on a recent purchase of a washing machine, you will just pay the…

A: Given Minimum payment = 4% of the balance Balance = $400 APR =15.99%

Q: Patrick J. just purchased a Zündapp Janus (a model and brand of car) for $4,000. He agreed to pay…

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Q: you want to buy a car for $8300 with $360 monthly payments for 4 years, what is the annual interest…

A: Interest rate is the rate which the customer would have to pay on the periodic payment of the…

Q: For the car loan described, give the following information. A car dealer will sell you the $30,950…

A: In this problem we have to get interest rate from given data.

Q: What is the payoff on Angela's loan? (Round your answer to two decimal places.)

A: Loan is financial agreement where a person (lender) lends lump-sum money to other person (borrower)…

Q: Calculate Sandy’s monthly payment

A: Loan Payment: These are payments made by the lender to the borrower for amortizing the loan amount.…

Q: You have just purchased a new car! You made a down payment of $5,000 and financed the balance.…

A: Given:Down payment from today => $5,000Monthly payment => $600Term period => 48 months (4…

Q: We have offered to contribute $6,200 at the time of your purchase. The car plan to buy will cost…

A: Annuity means a series of finite number of payments which are the same in size and occur in the same…

Q: A refrigerator sold for $500. The store financed the refrigerator by charging 0.5% monthly interest…

A: Given information:Selling price of refrigerator=$500Interest rate=0.5%No. of installments=30a)…

Q: An auto dealer agrees to sell a used car for $1,000 down and payments for 3 years at $550 per month.…

A: according to the question given, downpayment = $1000 monthly payment (A) = $550 interest rate (R) =…

Q: After deciding to buy a new car, you can either lease the car or purchase it on a three-year loan.…

A: The decision regarding whether to buy the asset which here is the car or to opt for the lease…

Q: Polly purchased car. She paid ₱ 150,000.00 as down payment and ₱5,500.00 payable at the beginning of…

A: periodic rate is the interest rate for a specific time period. the interest rate quoted for a loan…

Q: Robyn is considering the purchase of a new car that sells for $34,000. Čalculate her monthly payment…

A: Using the PMT function

Q: For the car loan described, give the following information. A car dealer will sell you a used car…

A: Loan is a contract between lender and borrower where lender provide funds to borrower for finite…

Q: staman buys a television set from an appliance store who asks for P1,250 if paid at the I of 60…

A: In this we have to calculate discount on the price and get today value.

Q: A used car dealer advertises financing at 0% interest over 3 years with monthly payments. You must…

A: Effective annual rate: It is the rate which is compounded annually.

Q: How much would you need to pay up front for a car that sells for $13,000, with 7% sales tax, a…

A: Down Payment = $2,600 License and registration fee = $78 Insurance premium = $99 Sales Tax = 7% x…

Q: You decide that you can spend 600 as a monthly payment for a new car. Your bank offers car loans at…

A: The amount that can be borrowed should equal the present value of future payments. This is based on…

Q: Suppose that you decide to buy a car for $31,635, including taxes and license fees. You saved $8000…

A: given, down payment = $8000 therefore loan amount = $31635 - $8000 = $23635 P=23635 R=7.59% N=12 T=3…

Q: A car dealer offers to buy your car for $9,500 so that you can purchase a new one. If your monthly…

A: The question is based on the concept of calculation of present value of future loan payments and get…

Q: A car is to be purchased in monthly payments of ₱ 17,000.00 for 4 years starting at the end of 4…

A: Monthly payment (M) = P 17000 n = 4 years = 48 payments r = 12% per annum = 1% per month First…

Q: "A furniture store has an ad for a sofa set priced at $1600. The customer is offered the choice of…

A: A loan is an agreement between two parties where one party forwards an amount for it to be paid back…

Q: To buy a car, you borrow $28,000 with a term of five years at an APR of 7%. What is your monthly…

A: Loan amount (PV) = $ 28,000 APR = 7% Monthly interest rate (r) = 7%/12 = 0.583333333333333% Period =…

Q: A car is advertised with a price of $42291. The payment plan to own a car is $468 per month for 4…

A: Interest amount = Total payment - Principal amount

Q: Suppose that you decide to buy a car for $28,635, including taxes taxes and license fees. You saved…

A: Car cost=28635 Saved =7000 period (4*12) = 48 interest (6.87%/12) = 0.57%                 G H…

Q: For the car loan described, give the following information. A car dealer will sell you the $30,750…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: A cloud storage engineer purchased a new car for $31,990. Complete the table below to determine the…

A: Using excel PMT function

Q: You want to buy a new car, but you can make an initial payment of only $1,300 and can afford monthly…

A: Monthly interest = APR /Number of months Monthly interest =  9%/12 Monthly interest = 0.75%

Q: What is the simple interest rate ?

A: Loan is a contract between lender and borrower where lender provide funds to borrower for definite…

Q: Manjean is making car payments of $662 per month for the next 3 years. Manjean knows that the car…

A: Formula Car price = P*[1-(1+I)-N]/I Where P - Monthly payment i.e. $662 I - Monthly interest rate…

Q: You bought a used car for $4,000.00 at a nominal interest rate of 6%. You agreed to pay for the car…

A: The loan is a value that is borrowed from external sources like banks and this amount is repaid…

Q: You decided to purchase a new appliance by borrowing $1,500 using Home Credit Product Loan which…

A: Loan is a value which is borrowed from external sources for a certain period. This amount is repaid…

Q: You have just purchased a new automobile costing $24000. the trade-in you have is valued at $6000.…

A: The given problem can be solved using PMT function in excel. PMT computes equal payments for given…

Q: You purchased an appliance in a certain appliance center worth P35,000 using your credit card. The…

A: The question is related to Amortization Schedule. The detals ar given.

Q: To buy a car, you borrow $25,000 with a term of three years at an APR of 6.5%. What is your monthly…

A: Using the Pmt function in excel

Q: A local car dealer offers a customer a 3-year car loan of $15,000 using “add-on" interest. $15,000…

A: Effective annual interest rate can be defined as that rate which is charged on annual basis after…

Q: You purchased an appliance in a certain appliance center worth P35,000 using your credit card. The…

A: The question is related to Amortization Schedule for 6 months. The details are given.

Q: A new engineer buys a car with 0% down financing from the dealer. The cost with all taxes,…

A: Information Provided: Total costs = $15,732 Number of payments = 48 Payment amount = $398

Q: A consumer faces the following decision. She can buy a computer for $1050 and pay $10 per month for…

A: To compare the alternatives, total present value of cost of computer will be calculated. Present…

Q: A computer chip designer purchased a car for $54,676.47, which induded sales tax and registration. f…

A: Given that, Loan (PV)=$54,676.47 Duration (n)=5*12=60 periods Rate of interest (i)=4.5%/12=0.00375…

Q: An auto dealership is advertising that a new car with a sticker price of $33,768 is on sale for…

A: To open goal seek, firstly go to Data, followed What-if analysis & then goal seek.