Blake bought a new car and financed $15,000 to make the purchase. He financed the car for 48 months with an APR of 4.5%. Assuming he made monthly payments, determine the total interest Blake paid over the life of the loan. Round your answer to the nearest cent, if necessary.
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Blake bought a new car and financed $15,000 to make the purchase. He financed the car for 48 months with an APR of 4.5%. Assuming he made monthly payments, determine the total interest Blake paid over the life of the loan. Round your answer to the nearest cent, if necessary.
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- Carter bought a new car and financed $25,000 to make the purchase. He financed the car for 60 months with an APR of 5.5%. Assuming he made monthly payments, determine the total interest Carter paid over the life of the loan. Round your answer to the nearest cent, if necessary.Jerry signs a $16,000 loan for the purchase of a new car. The terms is for 48 months, at an interest rate of 4.8%. What is Jerry’s monthly payment? You must show the formulas with the values filled in.Wilfredo bought a new boat for $21,100. He paid $2,000 for the down payment and financed the rest for 3-years at an annual interest rate of 5%. Use the table to find the monthly payment for the amortized loan. Find the total interest paid on the loan. Click the icon to view a table of monthly payments on a $1,000 loan. The monthly payments for this loan are $ (Round to the nearest cent as needed.) Enter your answer in the answer box and then click Check Answer. 1 part remainino Clear All Check Answer javascript:doExercise(3); Copyright © 2020 Pearson Education Inc. All rights reserved. | Ter (99+ 近
- Jenna bought a new car for $28,000. She paid a 20% down payment and financed the remaining balance for 36 months with an APR of 3.5%. Assuming she makes monthly payments, determine the total interest Jenna pays over the life of the loan. Round your answer to the nearest cent, if necessary.Jasper purchased a car for 47,500. He paid a 20% down payment and financed the rest at 2.88 % for 6 years. Find the amount of down payment the monthly payment and the total interest jasper will have paid at the end of his loan.Please help me answer the following time value of money question. Edison borrowed $10,000 from the Niederriter Loan Company. He has to pay off the loan in 36 monthly payments of $500. What interest rate is he being charged?
- George borrows $43,000 to buy a car. He will repay the loan through 4 years of equal monthly payments and an annualized interest rate of 3.9%. Think about payment #44 of the loan obligation. How much of this payment will be interest? Enter your answer as a positive number (in dollars), and round to the nearest dollar.Tomas purchased a new heating and air-conditioning system for his home and financed $9,100 at an annual interest rate of 2.2% compounded monthly for 3 years. How much interest (in dollars) will Tomasz pay over the term of the loan? (Round your answer to the nearest cent.)Ali obtains a loan for home renovations from a bank that charges simple interest at an annual rate of 3.6%. His loan is for $14,300 for 78 days. Assume each day is 1365 of a year. Answer each part below. round your final answers to the nearest cent. (a) Find the interest that will be owed after 78 days. $ (b) Assuming Ali doesn't make any payments, find the amount owed after 78 days. $
- Justin is financing $169,600 for a home at 5.25% interest with a 25-year fixed-rate loan. Find the interest paid and principal paid for each of the first two months of the loan and find the principal owed at the end of the second month. E Click the icon to view the table of the monthly payment of principal and interest per $1,000 of the amount financed.Casey secured a 5-year car loan at 6.20% compounded annually that required him to make payments of $884.96 at the beginning of each month. Calculate the cost of the car if he made a downpayment of $3,250. Round to the nearest centMichael Sanchez purchased a condominium for $97,000. He made a 20% down payment and financed the balance with a 30 year, 5% fixed-rate mortgage. (Round your answers to the nearest cent. Use this table, if necessary.) (a) What is the amount (in $) of the monthly principal and interest portion, PI, of Michael's loan?