ezto.miCalculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.).(Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.)Number ofTotal of monthlypayments$5,849.76Total financemonthlypaymentsAmountPurchase priceof a used car$5,793Downcharge$1,339.76financedAPRpayment$1, 28348$4,51013%Monthly PaymentesBy tableBy formula a.mhéducation.com/TABLE14.2Loan amortization table (monthly payment per $1.000 to pay principal and interest on installment loan)Terms inmonths7.50%8%8.50%9%10.00%10.50%11.00%11.50%12.00%6.$170.34$170.58$170.83$171.20$171.6$171.81S172.05$172.30$172.551286.7686.9987.2287.4687.9288.1588.3888.6288.851858.9259.1559.3759.6060.0660.2960.5260.7560.982445.0045.2345.4645.6946.1446.3846.6146.8447.073036.6636.8937.12.37.3537.8138.0438.2838.5138.753631.1131.3431.5731.8032.2732.5032.7432.9833.214227.1527.3827.6227.8528.3228.5528.7929.0329.284824.1824.4224.6524.7725.3625.6025.8526.0926.335421.8822.1222.3622.5923.0723.3223.5623.8124.066020.0420.2820.5220.7621.2521.4921.7421.9922.24TABLE14.2(concluded)Terms inmonths12.50%13.00%13.50%14.00%14.50%15.00%15.50%16.00%$172.80$173.04$173.29$173.54$173.79$174.03$174.28$174.539.1289.0889.3289.5589.7990.0290.2690.4990.731861.2161.4561.6861.9262.1562.3862.6262.862447.5447.7848.0148.2548.4948.7248.9647.313038.9839.2239.4639.7039.9440.1840.4240.663633.4533.6933.9434.1834.4234.6734.9135.164229.5229.7630.0130.2530.5030.7531.0031.2526.5826.8327.0827.3327.5827.8328.0828.34485424.3124.5624.8125.0625.3225.5825.8426.106022.5022.7523.0123.2723.5323.7924.0524.32

in this we have to calculate from table and also by formula.

Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rour (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest c Number of Total of monthly payments $5,849.76 Total fina monthly payments 48 Amount Purchase price of a used car $5,793 Down charge $1, 339. 7 financed payment $1, 283 $4,510

Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rour (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest c Number of Total of monthly payments $5,849.76 Total fina monthly payments 48 Amount Purchase price of a used car $5,793 Down charge $1, 339. 7 financed payment $1, 283 $4,510

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...

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Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?
How do I work out this problem? Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.) (Use 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.) Purchase priceof a used car Downpayment Number ofmonthly payments Amountfinanced Total of monthlypayments Total financecharge APR $4,015 $90 60 $3,925 $5,764.00 $1,839.00 15.5%
Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.) (Use 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.) Purchase priceof a used car Downpayment Number ofmonthly payments Amountfinanced Total of monthlypayments Total financecharge APR $4,195 $95 60 $ 4,100 $5,944.00 $1,844.00 15.5% Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.) (Use 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.) ****TABLE ATTACHED***** Monthly Payment By table: By formula:
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Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.) (Use 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.) Purchase priceof a used car Downpayment Number ofmonthly payments Amountfinanced Total of monthlypayments Total financecharge APR $4,195 $95 60 $ 4,100 $5,944.00 $1,844.00 15.5% Monthly Payment By table By formula
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