QUESTION 4 Assume you take out a $2000 loan for 30 months at 9% APR. How much of the first month's payment is interest? HINT: Use Simple Interest: I=Prt, where t= 1/12. %3D (Round your answer to 2 decimal places.) = S[answer]
QUESTION 4 Assume you take out a $2000 loan for 30 months at 9% APR. How much of the first month's payment is interest? HINT: Use Simple Interest: I=Prt, where t= 1/12. %3D (Round your answer to 2 decimal places.) = S[answer]
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN:9781337117005
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 9FPE
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Question
whats the answer for number 4
![Question Completion Status:
QUESTION 3
There are two common choices for the term of a home mortgage: 15 years or 30 years. Suppose you need to borrow $90,000 at an APR of 6.75% to bu
home. What is your monthly payment be if you opt for a 30-year mortgage? (Round your answer to 2 decimal places.)
Monthly Payment: $[answer].
QUESTION 4
Assume you take out a $2000 loan for 30 months at 9% APR. How much of the first month's payment is interest? HINT: Use Simple Interest:I= Prt,
where t= 1/12.
(Round your answer to 2 decimal places.)
I= S[answer]
QUESTION 5
You borrow $18,000 with a term of four years at an APR of 4% to buy a truck. (Round your answers to 2 decimal places.)
a) What is your monthly payment?
N:
months
1%:
P.V: $
PMT: S
Save All Answe
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Transcribed Image Text:Question Completion Status:
QUESTION 3
There are two common choices for the term of a home mortgage: 15 years or 30 years. Suppose you need to borrow $90,000 at an APR of 6.75% to bu
home. What is your monthly payment be if you opt for a 30-year mortgage? (Round your answer to 2 decimal places.)
Monthly Payment: $[answer].
QUESTION 4
Assume you take out a $2000 loan for 30 months at 9% APR. How much of the first month's payment is interest? HINT: Use Simple Interest:I= Prt,
where t= 1/12.
(Round your answer to 2 decimal places.)
I= S[answer]
QUESTION 5
You borrow $18,000 with a term of four years at an APR of 4% to buy a truck. (Round your answers to 2 decimal places.)
a) What is your monthly payment?
N:
months
1%:
P.V: $
PMT: S
Save All Answe
Click Save and Submit to save and submit. Click Save All Ansuers to saue all answers.
吕口。
esc
F2
F1
@
#
24
&
6
7
8
9
2
3
Q
T
Y
F
G
H
ck
C
V
N
M
A
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