Q: Kangaroo Autos is offering free credit on a new $12,400 car. You pay $700 down and then $390 a month…
A: Calculation of Present Value of Payments:
Q: An auto dealership is advertising that a new car with a sticker price of $33,408 is on sale for…
A:
Q: For the car loan described, give the following information. A car dealer will sell you the $30,950…
A: The annual interest rate that is charged by the lenders or at which the investors earn additional…
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: For the car loan described, give the following information. A car dealer will sell you a used car…
A: Note: As per Bartleby guidelines,If a question with multiple sub-parts are posted, first 3…
Q: For the car loan described, give the following information. A car dealer will sell you the $30,950…
A: In this problem we have to get interest rate from given data.
Q: A refrigerator sold for $500. The store financed the refrigerator by charging 0.5% monthly interest…
A: Given information:Selling price of refrigerator=$500Interest rate=0.5%No. of installments=30a)…
Q: An auto dealer agrees to sell a used car for $1,000 down and payments for 3 years at $550 per month.…
A: according to the question given, downpayment = $1000 monthly payment (A) = $550 interest rate (R) =…
Q: You wish to buy a $10,000 dining room set. The furniture store offers you a three-year loan with an…
A: Given information: Present value or principal value is $10,000 Number of years of loan is 3 Interest…
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: You just bought a used car for $11,000 with no down payment using dealer financing at 4% APR…
A: Price of the Car is $11,000 APR is 4% compounded monthly Monthly payment is $300 To Find:- Time…
Q: you want to buy a 25000 car. the company is offering a 2% interest rate for 48 months. what iwll…
A: Given, Cost of car = $25,000 Rate of interest = 2% p.a No. of months = 48
Q: You have 45 remaining monthly payments of $688 until you pay off your car loan with interest.…
A: In order to find the current balance of the loan today one has to find the Present value of the…
Q: For the car loan described, give the following information. A car dealer will sell you a used car…
A: Loan is a contract between lender and borrower where lender provide funds to borrower for finite…
Q: Suppose you see a car with an advertised price of $15,100 at $390.83 per month for 4 years. What is…
A: Advertised price = $15,100 Monthly payments = $390.83 No.of months for which payment has to be made…
Q: A used car dealer advertises financing at 0% interest over 3 years with monthly payments. You must…
A: Effective annual rate: It is the rate which is compounded annually.
Q: Your parts supplier gives you one-quarter of a year to pay for parts ordered today, or offers you a…
A: The formula for computing present value as follows: Present value=FV1+rn
Q: A car dealer offers to buy your car for $9,500 so that you can purchase a new one. If your monthly…
A: The question is based on the concept of calculation of present value of future loan payments and get…
Q: What is the total interest paid to the nearest cent if the car costs $36,915, your down payment is…
A: A credit score is a metric which shows the ability of a person or an organisation to repay its debt…
Q: a refrigerator for P500 down and P300 per month for 24 months. The same brand of refrigerator could…
A: The given problem can be solved using RATE function in excel. RATE function computes interest rate…
Q: You bought a car and will pay back $378 per month for 48 months. If the rate is 3.46%, how much did…
A: The amount borrowed is calculated using the Present Value of Annuity formula.
Q: Use the Buying a Car information above to answer this question. The rebate offer is $3500, and you…
A: Calculation of the monthly payment if the rebate is chosen and secure a loan for the balance at the…
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: Use the Buying a Car information above to answer this question. You want to make monthly payments of…
A: Information Provided: Car cost = $27,600 Monthly payment = $523 Interest rate = 1.5% compounded…
Q: To buy a car, you borrow $28,000 with a term of five years at an APR of 7%. What is your monthly…
A: Loan amount (PV) = $ 28,000 APR = 7% Monthly interest rate (r) = 7%/12 = 0.583333333333333% Period =…
Q: Suppose you make a down payment of 6% of $27,600 for a car and finance the rest at 1.5% compounded…
A: Interest refers to the amount charged by the lender on the lent amount. The borrower of the loan is…
Q: For the car loan described, give the following information. A car dealer will sell you a used car…
A: The annual interest rate that is charged by the lenders or at which the investors earn additional…
Q: For the car loan described, give the following information. A car dealer will sell you the $30,750…
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: You have bought a car. The car dealer offers two payment plans: (A) Make 48 monthly payments of $130…
A: Given: Plan A: number of payments = 48 Amount = $130 Plan B: Number of payments = 36 Amount = $165…
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: A car dealership is offering to roll over the amount owed on your car into a new loan so you can…
A: LOAN AMOUNT LEFT 5406.77 ADDITION LOAN AMOUNT 29905.87 NEW TOTAL LAON AMOUNT 35312.64 INTEREST…
Q: For the car loan described, give the following information. A car dealer will sell you a used car…
A: The annual interest rate that is charged by the lenders or at which the investors earn additional…
Q: You can afford monthly deposit of only $200 into an account that pays 6.25% compounded monthly. How…
A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…
Q: Ramon Hernandez saw the following advertisement for a used Volkswagen Bug and decided to work out…
A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…
Q: You want to buy a car. The loan amount will be $33,000. The company is offering a 2% interest rate…
A: The Formula to find the monthly payment for an installment loan is called the Equal Monthly…
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 have bought a car. The car dealer offers two payment plans: (A) Make 48 monthly payments of $130…
A: Buying decision process: The consumer decision process, also known as the buyer decision process,…
Q: Sultan’s Used Cars just sold you a clunker (you need it to get to class on time). You financed the…
A: Given:
Q: You plan on purchasing a car for $28,500. The car dealer tells you that if you finance it through…
A: Here,
Q: A washer-dryer combination can be purchased from a department store by making monthly credit card…
A: For calculation of purchase price we need to use the following formula of annuity due PV of annuity…
Q: A new engineer buys a car with 0% down financing from the dealer. The cost with all taxes,…
A: Information Provided: Total costs = $15,732 Number of payments = 48 Payment amount = $398
Q: You want to purchase a car with a sticker price of $25,000.The car dealer offers you a $2,000…
A: Loan is an agreement under which the borrower would be asking for some funds to be raised. These…
Q: A car dealer will sell you a used car for $6,998 with $798 down and payments of $164.51 per month…
A: Using the rate function in excel
Q: An auto dealership is advertising that a new car with a sticker price of $33,768 is on sale for…
A: To open goal seek, firstly go to Data, followed What-if analysis & then goal seek.
Q: You need a loan to purchase a $5500 van. Company A will offer you a monthly payment or $102.35(4%…
A: Loan is a value which is borrowed from external sources like banks for a certain period and this…
Q: A bank teller negotiated a purchase price of $22,350 for a car. In addition to the purchase price,…
A: We first need to figure out the total cost of the car and then the amount of loan. We will then use…
A car dealer will sell you a used car for $6798 with $798 down and payments of $162.51 per month for 47 month for 48 months. What is the simple interest rate ?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- A car dealer will sell you a used car for $6,998 with $798 down and payments of $164.51 per month for 48 months. what is the interest rate (rounded to two decimal places) and the APR (rounded to the nearest tenth of a percent).For the car loan described, give the following information. A car dealer will sell you a used car for $6,598 with $798 down and payments of $167.51 per month for 48 months. amount to be paid$ ? amount of interest$ ?Interest rate (Round your answer to two decimal places.) % ?APR (rounded to the nearest tenth of a percent) % ?A car buyer can afford a monthly payment of $450 per month and has $7000 saved for a down payment. If financing is available at 3.2% interest for 72 months, then what would be the maximum car price they could afford? (You may round your answer to the nearest dollar.)
- For the car loan described, give the following information. A car dealer will sell you a used car for $6,598 with $798 down and payments of $161.51 per month for 48 months. (a) amount to be paid$ (b) amount of interest$ (c) interest rate (Round your answer to two decimal places.) %(d) APR (rounded to the nearest tenth of a percent) %To purchase a used automobile, you borrow $10,000 from Loan Shark Enterprises. They tell you the interest rate is 1% per month for 35 months. They also charge you $200 for a credit investigation, so you leave with $9,800 in your pocket. The monthly payment they calculated for you is[$10,000 (0.1) (35) + $10,000]/35 = $385.71/month. If you agree to these terms and sign their contract, what is the actual APR (annual percentage rate) that you are paying?You buy a ten-year-old car for $12,000. You decide to pay $2000down, and the used car dealer gives you a “special” rate of “9% monthly” for 48 months.a) What is your monthly payment?b) How much of your first payment goes to interest?c) How much interest do you pay for the entire loan?d) What is your final payment for this car? tvm solver
- Suppose that you decide to buy a car for $28,635, including taxes taxes and license fees. You saved $7000 for a down payment and can get a four-year car loan at 6.87%. The monthly payment is $_____ The total interest for the loan is $___________A used car dealer advertises financing at 0% interest over 3 years with monthly payments. You must pay a processing fee of $500 at signing. The car you like costs $9000. (a) What is your effective annual interest rate? (b) You believe that the dealer would accept $8200 if you paid cash. What effective annual interest rate would you be paying, if you financed with the dealer?A car dealer offers to buy your car for $9,500 so that you can purchase a new one. If your monthly payment is $464.23 with an annual interest rate of 3.9% and you have 20 more payments remaining, is the present value of your car loan more or less than the amount the dealer is offering? How much Less?
- A new engineer buys a car with 0% down financing from the dealer. The cost with all taxes, registration, and license fees is $15,732. If each of the 48 monthly payments is $398, what is the monthly interest rate? What is the effective annual interest rate?You buy a ten-year-old car for $12,000. You decide to pay $2000 down, and the used car dealer gives you a “special” rate of “9% monthly” for 48 months. a) What is your monthly payment? b) How much of your first payment goes to interest? c) How much interest do you pay for the entire loan? d) What is your final payment on this car?You are looking to buy a car and can afford to pay $195 per month. If the interest rate on a car loan is 0.74% per month for a 60-month loan, what is the most expensive car you can afford to buy? The amount that you can afford is $________________ (Round to the nearest dollar.)