Kevan needed a loan for $8500 and was offered an interest rate of 6.2% compounded weekly. Kevan decided to make monthly payments instead of paying the loan off all at once. If Kevan wanted the loan to by payed off in 1.5 years, how much would each payment have to be?

Gerritt wants to buy a car that costs $31,250. The interest rate on his loan is 5.69 percent compounded monthly and the loan is for 6 years. What are his monthly payments?

2) Whiskers wants to buy a $400,000 house. She plans to pay $80,000 down and make monthly payments for 20 years. If the loan has an interest rate of 6% monthly with 3 points, what is the true interest rate?

If Blitzen wants to buy a $120,000 house. Blitzen is going to pay $40,000 down and make monthly payments for 30 years. The rate is 3.1% monthly with 2 points.  If the loan is paid off after 12 years, what is the true rate?

Chuck Wells is planning to buy a Winnebago motor home. The listed price is $185,000. Chuck can get a secured add-on interest loan from his bank at 7.35% for as long as 60 months if he pays 15% down. Chuck's goal is to keep his payments below $4,300 per month and amortize the loan in 42 months. (a) Find Chuck's monthly payment (in $) with these conditions. (Round your answer to the nearest cent.) $ 4257.64 × Can he pay off the loan and keep his payments under $4,300? Yes, under these conditions, Chuck will meet his goal. No, the monthly payment is too high. (b) What are Chuck's options to get his payments closer to his goal? (Select all that apply.) □ □ □ □ □ make a lower down payment try to bargain for a lower sale price make a higher down payment try to negotiate a higher interest rate try to bargain for a higher sale price try to negotiate a lower interest rate

Whiskers wants to buy a $600,000 house. She plans to pay $200,000 down and make monthly payments for 20 years.  If the loan has an interest rate of 5% monthly with 3 points, what is the true interest rate?

You are interested in a car which costs $25,000. You have a $2000 down payment, and you have afound a 4-year loan at 4.5% annual interest compounded monthly. How much total interest do you endup paying if you make equal monthly payments over the entire four years?

You have just taken out a $23,000 car loan with a 7% ​APR, compounded monthly. The loan is for five years. When you make your first payment in one​ month, how much of the payment will go toward the principal of the loan and how much will go toward​ interest?