For the car loan described, give the following information. A newspaper advertisement offers a $4,500 used car for nothing down and 36 easy monthly payments of $150.62. (a) amount to be paid (b) amount of interest $ (c) interest rate (Round your answer to two decimal places.) % (d) APR (rounded to the nearest tenth of a percent) % Need Help? Read It
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- A car dealership sells a car to a customer for $35,000. The customer makes a 10% down payment, and the dealership finances the remaining 90% in-house. How much will the car dealership record in Accounts Receivable for this customer? A. $31,500 B. $19,250 C. $8,750 D. $7,000For the car loan described, give the following information. A newspaper advertisement offers a $9,000 car for nothing down and 36 easy monthly payments of $272.50 a) amount to be paid- $9,810 b) amount of interest - $810.12 c) Find the interest rate d) find the APRFor the car loan described, give the following information. A newspaper advertisement offers a $9,000 car for nothing down and 36 easy monthly payments of $317.50. (a) amount to be paid$ (b) amount of interest$ (c) interest rate %(d) APR (rounded to the nearest tenth of a percent) %
- For the car loan described, give the following information. A newspaper advertisement offers a $9,000 for nothing down and 36 monthly payments of $332.50. a. amount to be paid $11,970.00 b. amount of interest $2,970.00 c. interest rate 11% d. APR (rounded to the nearest tenth percent). I tried this part of the problem and it's not 5.8 or 5.9%. It's still wrong. What is the APR?For the car loan described, give the following information. A car dealer will sell you a used car for $6,398 with $798 down and payments of $164.51 per month for 48 months. (a) amount to be paid$ (b) amount of interest$ (c) interest rate (Round your answer to two decimal places.) %(d) APR (rounded to the nearest tenth of a percent)I need help with answering question B: A car loan offered by Bank One requires quarterly payments and has an APR of 4.8 percent, whereas a the same loan amount may be obtained from Bank Two at an APR of 5 percent with monthly payments. Which loan would you choose and why?
- For the car loan described, give the following information. A car dealer will sell you the $30,150 car of your dreams for $6,000 down and payments of $663.06 per month for 60 months. (a) amount to be paid$ (b) amount of interest$ (c) interest rate (Round your answer to two decimal places.) %(d) APR (rounded to the nearest tenth of a percent) %Pat Radigan is planning to buy a Toyota hybrid for $18,989 with $2,100 down and plans to finance the car. Citizens’ Financial Bank quoted a finance charge at 8% for 48 months; Charter One Bank quoted him a finance charge at 7.5% for 60 months. a. What would be his monthly payment to Citizens’ Financial Bank? (Do not round intermediate calculations. Round your answer to the nearest cent.)Someone needs to borrow $13,000 to buy a car and the person has determined that monthly payments of $250 are affordable. The bank offers a 4-year loan at 8% APR, a 5-year loan at 8.5%, or a 6-year loan at 9% APR. Which loan best meets the person's needs? Explain. Question content area bottom Part 1 Which loan best meets the person's needs? (Round to the nearest cent as needed.) A. The third loan best meets the person's needs because the monthly payment of $ enter your response here is less than the maximum budgeted amount of $ per month. B. The first loan best meets the person's needs because the monthly payment of $ enter your response
- A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $1, 100 per month for the next three years and then $2, 200 per month for two years after that. If the bank is charging customers 7.75 percent APR, how much would it be willing to lend the business owner? (Do not round intermediate calculations and round your final answer to 2 decimal places.)PLEASE TYPE IT AND NOT HANDWRITTEN You purchased an appliance in a certain appliance center worth P35,000 using your credit card. The credit card company charges a monthly interest rate of 4% and a minimum payment of 5%. Assuming you only pay the minimum amount at the end of the month, what is the remaining balance after 6 payments?An automobile with a total transaction price of $20,000 with a down payment of 20% is being financed for 48 months. Banks and credit unions require a monthly payment of $400.36. What is the APR for this auto loan? Use the table in the Business Math Handbook