If you negotiate a new-car deal for $22,995, including all taxes and registration, and you put 20% down, how much will you still need to finance?
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If you negotiate a new-car deal for $22,995, including all taxes and registration, and you put 20% down, how much will you still need to finance?
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- You were able to sell a car worth 2,100,000, which would be financed by a bank. You told your buyer that the required down payment was 20% of the net price. Your buyer also need to pay the monthly amortization of 34,950 for 5 years.How much was the down payment paid by the buyer?How much was the gross balance or the amount to be financed by the bank?How much was your total commission if you received a commision of 5.25% based on the suggested retail price of the car from the car dealer and 1.25% incentive from the bank.How much was the interest rate charged by the bank for requiring the buyer to pay the monthly amortization of 34,950 for 5 years?You were able to sell a car worth 2,100,000, which would be financed by a bank. You told your buyer that the required down payment was 20% of the net price. Your buyer also need to pay the monthly amortization of 34,950 for 5 years.How much was the down payment paid by the buyer?What is the highest price they can pay on the new vehicle if they can afford a down payment of $4,000?Assume they finance their purchase for 48 months at 7.5%?
- You want to buy a $210,000 home. You plan to pay $10500 as a down payment, and take out a 30 year loan for the rest.a) How much is the loan amount going to be?You are buying a car. You pay $15,000 today and $200 a month for three years. If the annual rate of interest is 8 percent, what was the original cost of the car?How much will you pay for a $10,000 automobile in 20 years if the infla-tion rate averages 3 percent per year for 20 years?
- An executive is looking to buy a Bugatti for $1.9 million. The car dealer can offer financing at a 4.9% rate over 5 years. If $900,000 is put down towards the purchase and the financing terms accepted, what will the monthly payment for the loan be? and what formula would i use to calculate this in excel?You buy a car for $34,000. You pay $10,000 down and finance the rest at 3% monthly over five years. If the payment is rounded up to the nearest dollar, what is the final payment?You want to buy a car for $25000 that has to be paid in 5 years. If the car dealer agrees to finance your car at 8%, what would be your annual payment for the car?
- Suppose you purchase an automobile for a selling price of $1,600,000. You make a down payment of 5% of the selling price and finance the remaining balance for 4 years at an annual interest rate of 5%. The sales tax is 7.5% of the selling price, and the license fee is 0.8% of the selling price. Find the monthly payment.Suppose you want to buy a car. You have surveyed the dealers' newspaper advertisements, and the one shown has caught your attention. You can afford to make a down payment of $2,678.95, so the net amount to be financed is $20,000.(a) What would the monthly payment be?(b) After the 25th payment, you want to pay off the remaining loan in a lumpsum amount. What is this lump sum?You are considering buying a new car worth $I5,000. You can finance the car either by withdrawing cash from your savings account, which earns 8% interest compounded monthly, or by borrowing $I5,000 from your dealer for four years at 11% interest compounded monthly. You could earn $5,635 in interest from your savings account in four years if you leave the money in the account. If you borrow $15,000 from your dealer, you pay only $3,609 in interest over four years, so it makes sense to borrow for your new car and keep your cash in your savings account. Do you agree or disagree with the foregoing statement? Justify your reasoning with a numerical calculation.