Saul Goodman is shopping for a gently used SUV. A used-car dealer offers to sell the vehicle to Saul for $5000 down and $500 per month for 72 months. If the quoted rate on car loans is currently 3.8%, what is the price of the car implied by the dealer’s offer? Don't answer by pen paper and don't use chatgpt otherwise we will give dounvote

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You want to buy a car.  A dealership in town has the SUV you want to buy for $22,510.  Your first financing option is to make a down payment of $2500 and finance the rest at 2.99% APR for 72 months. How much will you be financing?  $  How much will your monthly payments be under this financing option?  (Round to the nearest dollar.)  $  How much total money will you pay for the SUV at the end of the 72 months under this financing option?  (Don't forget to include your down payment in this total amount.) $

Calculating payments, interest, and APR on auto loan After careful comparison shopping, Isabella Green decides to buy a new Toyota Camry. With some options added, the car has a price of $20,500 - including plates and taxes. Because she can't afford to pay cash for the car, she will use some savings and her old car as a trade-in to put down $5,000. She plans to finance the rest with a $15,500, 48-month loan at a simple interest rate of 12 percent.   What will her monthly payments be? Round the answer to the nearest cent.$ per month How much total interest will Isabella pay in the first year of the loan? Round the answer to the nearest cent.$ How much interest will Isabella pay over the full (48-month) life of the loan? Round the answer to the nearest cent.$ What is the APR on this loan? Round the answer to 1 decimal place. %

The buyer of a piece of real estate is often given the option of buying down the loan. This option gives the buyer a choice of loan terms in which various combinations of interest rates and discount points are offered. The choice of how many points and what rate is optimal is often a matter of how long the buyer intends to keep the property. Darrell Frye is planning to buy an office building at a cost of $982,000. He must pay 10% down and has a choice of financing terms. He can select from a 9% 30-year loan and pay 4 discount points, a 9.25% 30-year loan and pay 3 discount points, or a 9.5% 30-year loan and pay 2 discount points. Darrell expects to hold the building for three years and then sell it. Except for the three rate and discount point combinations, all other costs of purchasing and selling are fixed and identical. (Round your answers to the nearest cent. Use this table, if necessary.) (a) What is the amount being financed? 2$ (b) If Darrell chooses the 4-point 9% loan, what…

Please solve using Excel and show formulas. You have decided to buy a car with price tag of $60,000 but you are able to negotiate the price down to $58,000.  You have $5,000 saved, so you need to borrow $53,000 in a 5-year loan from your bank (your bank offers lower rates than the auto-dealer) at a 4.5% APR (annual rate). How much will you owe to the bank after 3 years?

A friend of yours just bought a new sports car with a $5,000 down payment,and her $30,000 car loan is financed at an interest rate of 0.75% per month for 48 months. After two years, the “Blue Book” value of her vehicle in the used-car marketplace is $15,000. Solve, a. How much does your friend still owe on the car loan immediately after she makes her 24th payment? b. Compare your answer to Part (a) to $15,000. This situation is called being “upside down.” What can she do about it? Discuss your idea(s) with your instructor.

Ginny, who lives in Houston, is trying to decide between the following car models: Brand and Model Chevy Sonic Toyota Camry Ford Escape Hybrid Dodge 1500 Pickup Cost $14,255 17,950 30,570 37,590 She's currently accumulated a down payment of $5,000 and she has determined that she can afford maximum payments of $375 per month. Her initial research on the current cost of auto loans has found that her lowest cost loan would be made by a bank and would require an interest rate of 6% for five years. Given this information, the maximum amount that Ginny can afford to pay for her new car is can afford to purchase, without stretching her budget, is: OOO The Chevy Sonic The Toyota Camry The Dodge 1500 Pickup The Ford Escape Hybrid I and the most expensive car that she

You are interested in purchasing an automobile but you require financing. The dealer has provided you with several loan options to finance the purchase. Your market rate of return for the risk that you pose various lenders is 7%. The automobile that you want to purchase has a sticker price of $35,000 and a competitive market value of $31,000.    Here are your loan options: Loan 1:   loan has a term of 60 months, a contractual rate of interest of 8% and requires a down payment of $1,500 for the purchase of the car. The loan allows you to claim a rebate of $1,000 on the car at purchase. Loan 2:   The loan has a term of 72 months, a contractual rate of 7.5% and requires a down payment of $1,000 for the purchase of the car.   The loan allows you to claim a $500 rebate. Loan 3:   The loan has a term of 36 months a contractual interest rate of 0% and requires $4,000 down.   No rebate is available for this option. What is the value created or value destroyed for Loan 3 (round to the nearest…

Trae needs to buy a car, but he doesn’t have any money for a down-payment and can only afford $190 per month for this car payment. If he can finance a car at 5.50% for 4 years, how much car can he afford?  N=                                                      FV= I%=                                                   P/Y= PV=                                                       C/Y= PMT=                                                   End or Begin $170.00     $220.73     $11,555.84     $8,169.77