How much monthly installment will be offered by bank?

Q: Suppose that you decide to borrow 16000 for a new car. You can select one of the following loans…

A: Loan A has a term of 3 years with 6.3% interest.The formula to calculate monthly payment is given…

Q: A. A newly married couple decided to buy a brand-new car. The net amount of loan is Php 500, 000.…

A: Given: Loan amount = Php 500,000 Years = 3 Interest rate = 12%

Q: You want to buy a $170000 home. You plan to pay $34000 as a down payment, and take out a 20 year…

A: Price of Home =$ 170000 Down Payment =$ 34000 Amount Financed = $ 170000-$ 34000 = 136000 Years = 20…

Q: You are financing a car worth $29039.30 including tax. The interest rate is 10.8% compounded daily.…

A: Loan amount (L) = $29039.30 - $1700 = $27339.30 Interest rate = 10.8% daily compounding (m = 365) n…

Q: ou are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly…

A: The given problem can be solved using PMT function in excel. PMT function computes instalment amount…

Q: You have decided to buy a car. The car cost RM 50 Q00 You are taking a loan from a bank with the…

A: Calculation of installment price = Loan Amount/ PVA(3%,5 years) = 40000/55.6523 = $ 718.74

Q: Suppose you want to buy a car. You have surveyed the dealers' newspaper advertisements, and the one…

A: the question is based on calculation of amortized loan . The loan will be repaid in equal…

Q: suppose that you decide to borrow $15,000 for a new car. you can select one of the following loans,…

A: a.Loan ALoan Amount (pv) = $15,000Interest Rate (rate) = 5.9%Time Period = 3 YearsNumber of Payments…

Q: A small businessman is about to acquire a machine whose price is $ 15,000 with VAT included. If the…

A: A. Payment in cash Cash payment = $15000(1-15%) = $ 12750   B. Installment to pay on credit Initial…

Q: 1. You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly…

A: Using the PMT function in excel

Q: Which is a better choice in buying a washing machine worth ₱12,700.00? A. Avail of the instalment…

A: From all options, let's find the interest charged. For option A, n = 18 months Monthly payment (M) =…

Q: The bank officer is convincing a customer who is looking for a car loan. Compute the price the bank…

A: Ordinary annuity are the payments which are made at the end of a period.

Q: You want to buy a Ford SUV with a list price of $48,000. Dealer A offers to sell it for a discount…

A: PMT is the periodic payment.

Q: 1. You want to buy a car, and a local bank will lend you $15,000. The loan will be fully amortized…

A: " Since this question contains multiple parts, we will answer only the first part for you. Kindly…

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: Suppose that you decide to buy a car for $65,000​, including taxes and license fees. You saved…

A: Incentive A involves $7,000 off the price of the car, therefore the cost of the car will be…

Q: To purchase a new car, you borrow $20,000. The bank offers a 6-year loan at an interest rate of…

A: The future value is the future worth of the amount that has to be paid or received in the present.

Q: You want to buy a car and therefore you borrowed $10,000 from a bank today for 6 years. The nominal…

A: Monthly Payment: It is the amount that is paid at the end of each month to the lender of the bond by…

Q: If a dealer offers you a car at $275 monthly payment for 5 years plus $5,000 down. If you can get a…

A: Loan is an agreement between lender and borrower. Lender agrees to provide funds t borrower at…

Q: You want to buy a car and therefore you need $10,000. You can borrow from a bank today for 6 years.…

A: Purchase Price of Car = 10,000 Time Period (N) = 6 years i.e. 72 months Down Payment = 10% Loan =…

Q: You want to buy a car, and a local bank will lend you $35,000. The loan will be fully amortized over…

A: An effective annual rate is the modified interest rate from the nominal rate that represents the…

Q: You want to buy a car. The loan amount will be $28,000.00. A bank is offering a 5% interest rate for…

A: Present Value Method :— It is method for calculating present Value of All periodical future cash…

Q: 43. You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year…

A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…

Q: Suppose that you buy a car costing $14,000. You agree to make payments at the end of each monthly…

A: The payments made to purchase this car is a form of an annuity. Thus, the value of each payment can…

Q: If a dealer offers you a car at $275 monthly payment for 5 years plus $5,000 down. If you can get a…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

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

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: You go to a phone dealer to buy a new car for 22,000 pesos financed at 3.4% APR, compounded monthly,…

A: An annuity loan occurs when an annuitant borrows money against the value of his or her annuity…

Q: Sarah Maddox wants to buy a new car that will cost $15,000. She will make a down payment in the…

A: a. price of car=$15,000 cash payment = $3000 loan amount=$12,000 rate = 8% m=12 r=0.0812=0.66%…

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Use PMT to find…

A: given, p = 10000 n = 12 r =8% t= 4 pmt=p×rn1-1+rn-nt=10000×8%121-1+8%12-12×4=$244.14 MONTHLY PAYMENT…

Q: If you make monthly payments for 4 years, what is the total amount of interest that you'll end up…

A: Loan (mortgage) amortization schedule refers to a schedule which is prepared to shows the periodic…

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: Suppose that you decide to borrow $15,000 for a new car. You can select one of the following loans,…

A: For calculating the monthly payment of A , following details will be used Principal Amount = $15,000…

Q: Suppose that you decide to borrow 13000 for a new car. You can select one of the following loans…

A: With the given information, we need to find the monthly payments and total interest for each of the…

Q: 2. You purchase a basic package, 4-door sedan for your company's fleet for $18,000. The 3 year loan…

A:

Q: The purchase price of a car is Php 35,051, Mr. Smith makes a down payment of Php 2,311 and borrows…

A: Answer; Calculation of the quarterly payment required to pay off the loan: Formula, we will use…

Q: P Suppose that you borrow $14,000 for four years at 5% toward the purchase of a car. Use PMT = to…

A: PMT = P * (r/n) / 1-[(1+r/n)]^-nt where, P = amount borrowed i.e. $14000 r = rate of interest i.e.…

Q: (a) A bank account pays 5.5% annual interest, compounded monthly. How long will it take the money to…

A: a) monthly rate = 5.5%/12 2 = 1*(1 + 5.5%/12)n where n is the number of months number of months =…

Q: You borrow $22541 to buy a car. You will have to repay this loan by making equal monthly payments…

A: In order to calculate the monthly payment on the financial calculator, firstly we are required to…

Q: You visited your bank and asked about car loan options you can avail for the purchase of a new car…

A: The best option among all the four can be determined on the basis of total interest paid and the…

Q: CRIA iV, N) Today you purchase a previously owned Tesla Model 3 for $40,000. You take out a 0.25%…

A: Loans are paid by the equal monthly installments and these have payment of loan amount and also…

Q: Suppose you are in the market for a new car worth $18,000. You are offered a deal to make a $1,800…

A: Loan amortization schedule refers to the presentation of complete loan payments over the period of…

Q: (a) You want to buy a car, and a local bank will lend you $40,000. The loan will be fully amortized…

A: Given  Total loan amount is $40,000 The rate is 5%

Q: Mr. Smith wants to buy a new car that willcost $35,000. He will make a down payment in theamount of…

A: Annual worth distributes present worth into equivalent uniform value over its useful life.

Q: How much monthly installment will be offered by bank?

A: Time value of means (TVM) means that the amount of money received in the present period will have…

Q: You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly…

A: GIVEN, loan (P) = $800,000 rate (r) = 18% n= 7 m =12 annuity due