An installment contract for the purchase of a car requires payments of ​$202.94 at the end of each month for 3.5 years. Interest is 8 % per annum compounded monthly. ​(a) What is the amount​ financed? ​(b) How much is the interest​ cost?

An installment contract for the purchase of a car requires payments of ​$206.33 at the end of each month for 5 years. Interest is 5% per annum compounded monthly. ​(a) What is the amount​ financed? ​(b) How much is the interest​ cost?

a car loan of 25,293.25 is to be repaid with​ end-of-month payments of 554.68. If interest is ​7% compounded monthly how long is the term of the​ loan? State your answer in years and months​ (from 0 to 11​ months).

A loan is offered with bi-weekly payments (26 payments per year) and a 15.00 percent APR. What's the loan's effective annual rate (EAR)? Note: Round your final answer to 2 decimal places.

1) A 20-year loan of $1,100 at an effective annual interest rate of 7% is repaid with payments at the end of each year. Each of the first ten payments equals 150% of the amount of interest due. Immediately after the tenth payment, you take out a 10 year loan with payments $100 at the end of each year and effective annual interest rate of i and use this loan to pay off your original loan. Find i.

What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays 8.6%, compounded semiannually, so that the account will have a future value of $170,000 at the end of 20 years? (Round your answer to the nearest cent.)$_____

4. You borrow $720,000 at 4.00% per year compounded monthly and you plan to pay off this loan in equal annual payments starting one year after the loan is made over a period of fifteen (15) years. What are the annual end-of-year payments? Determine the amount of interest and principal that are paid each year. What is the total interest paid for the loan? a. b. Restructure the loan in the previous question to make payments monthly. Determine the savings in interest overall. C. Restructure your payment schedule once more to make payment every two weeks. Determine the savings in interest (if any) in this case (compare to both previous repayment options). 1 OF 1

You want to buy a new sports car for $85,403. The contract is in the form of a 63-month annuity due at a 5.61 percent APR. What will your monthly payment (in $) be? Answer to two decimals..

An installment contract for the purchase of a car requires payments of $346.34 at the end of each month for 2 years. Interest is 5% per annum compounded monthly. (a) What is the amount financed? (b) How much is the interest cost? (a) The amount financed is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The interest is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Round to the nearest cent as needed.