Calculate Loan Amount Enter the cost of the potential car, down payment, and fees below. Press calculate when you're ready. Cost of Potential Car 7,000 Down Payment 500 Taxes and Fees 340 Incorrect Correct Correct First, we need to figure out how much you want to borrow. You said you wanted to spend $5,000, and you will put $500 down. Based on that, we can estimate your taxes to be $340. Put those numbers into the calculator and press calculate to see how much money you will need for your loan.

Calculate Loan Amount Enter the cost of the potential car, down payment, and fees below. Press calculate when you're ready. Cost of Potential Car 7,000 Down Payment 500 Taxes and Fees 340 Incorrect Correct Correct First, we need to figure out how much you want to borrow. You said you wanted to spend $5,000, and you will put $500 down. Based on that, we can estimate your taxes to be $340. Put those numbers into the calculator and press calculate to see how much money you will need for your loan.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

Use Goal seek on the loan amount of $825,000. You would like the monthlypayment to be $4500.00. Find a solution for new loan amount, term, and Interestrate. Do not overwrite the Existing data on D3. Hint: Use Cancel when goal seekfinds a solution. Write the solution in the space provided on a spreadsheet.
Please show me how to solve this in excel using an excel spreadsheet and please show the excel formulas! Thank You! A house price of $100,000 can be financed with two loans below with monthly payments. The total origination cost associated with these two loans in the table attached is $3000. Alternatively, the borrower can borrow one loan in the amount of $90,000 with monthly payments and origination cost of $2,000. What should the interest rate be on the loan of $90,000 so that the borrower will be indifferent between these two choices?
Use the PMT function or your buy/rent calculator. You bought a house for $650,000 and had an LTV of 75% on a 15-year amortized loan at 7.25%. What is your payment? (Dollars and cents only, no $. Canvas will add a comma. Need typed answer only.No playgarism
You are considering taking out a 15-year loan versus a 30-year loan for a home. Explain what the pros and cons of both loan types are. Be sure to add appropriate detail to receive full credit. BIUS IE 블 Insert Formula X₂ X² 三星E
When would leasing a vehicle be a better option than buying? Describe in at least five sentences how you will prepare to purchase your next vehicle in order to (1) get the appropriate vehicle, (2) to get the best deal, and (3) to avoid getting ripped off. For the Questions 3-5 assume you want to finance (borrow) $12,000 for your next car and your interest rate will be 6%. What will be your monthly payment and the total amount paid over the life of the loan if you finance for 48 months? Provide the car payment and the TVM inputs you used to calculate the payment. Payment Total of all payments PV FV RATE/INTEREST PERIODS/N (See next page for Questions 4 and 5) What will be your monthly payment and the total amount paid over the life of the loan if you finance for 60 months? Provide the car payment and the TVM inputs you used to calculate the payment. Payment Total of all payments PV FV…
Help me with step by step answers on a TI 83, TVM solver and forumulas and timelines. You want to buy a car and need to see how big of a car loan you can afford. Your budget allows you allocate $289.99 per month for car loan payments. The bank will offer you a loan at 6% interest on an APR basis and monthly payments over five years. What is the amount of the loan you can afford? Use the $ symbol and round to the nearest dollar (no decimal places). Use commas in your answer if applicable.
We really want a new car and want to know if we can realistically afford it but also see how much interest we would end up paying in totality.If after talking to the sales person and spending a few hours at the dealearship, you were approved for a 42,000 loan with an annual percentage rate of 21.99% for a 7 year loan. What will your monthly payment be?Display in a plot the trajectory of payments over time, and trajectory of interest. Using this plot, when will most of your monthly payments go towards the principal balance and not the interest?
site, find another.) Type in a home price of $300,000. Leaving all other entries as they are, enter an interest of 3%. Then change it to 4%. Then change it to 5%. Record the monthly payment readouts for each interest rate. Be careful with your calculations below and accurate with your research so that this assignment is useful! 1a. What was the monthly payment fference cost between the 3% and 5% loans? 1b. Multiply that monthly cost difference by 360 (the number of months in a 30 year home loan). What is the result? This is what a borrower may be paying MORE than someone else over the life of that loan due to credit. 1c. Why are customers with high credit scores given loans with lower interest rates? Reference the notes above for help here. 1d. What does this research tell you about the importance of maintaining a "good" credit score (as best as
Example : You want to buy a $18,500 car. The company is offering a 3% interest rate for 4 years. What will your monthly payments be? I will do this one for you and show you how I want you to describe your formula/inputs in excel if that is how you choose to go about solving problems 2 through 5 - which I strongly recommend. If you choose to perform the calculations by hand show the formula used with values. Excel: Formula used: PMT Rate input: .03/12 NPer input: 4*12 Pv input: 18500 Answer : $409.49 per month 2. You want to buy a $22,500 car. The company is offering a 4% interest rate for 5 years. a.What will your monthly payments be? Round to the nearest cent .b. Assuming you pay that monthly amount for the entire 5 years, what is the total amount of money you will pay during those 5 years for the car? c.How much interest will you pay during those 5 years?
(Calculating an APR and EAR) You're in need of some money fast, and rather than ask your folks for help, you've decided to look into a payday loan. At a payday loan shop right near your school you see that you can borrow $600 and repay $668 in 19 days. What are the APR and the EAR on this payday loan? a. What is the APR on this payday loan? nothing% (Round to two decimal places.)
Evaluating financing packages. Assume that you’ve been shopping for a new car and intend to finance part of it through an installment loan. The car you’re looking for has a sticker price of $18,000. Custom Vehicles has offered to sell it to you for $3,000 down and finance the balance with a loan that will require 48 monthly payments of $333.67. However, a competing dealership will sell you the exact same vehicle for $3,500 down, plus a 60-month loan for the balance, with monthly payments of $265.02. Which of these two financing packages is the better deal?
You are interested in buying a brand-new jalopy and expect the purchase price to be $19,000. The car dealership can offer financing at a 6% interest rate over 6 years. If you put 1,000 down towards the purchase and accept the financing terms, what will your monthly payment for the loan be? In Excel, I need to know all the steps in Excel for the answer. Everything thing needs to be filled in, so I have all parts answered for this question. Thank You! Please do not use another example in Excel because that is not the way i am supposed to solve it all arguments in EXCEL need to be entered when using PMT in Excel I have the answer I need to show how I came up with that answer using all the arguments in one box not broken down to 2 different steps. Thanks, and here is the answer.298.31 The following are the values given to calculate the monthly payment. The purchase price of the jalopy is $19,000 and down payment is $1,000. Hence, the present value of jalopy is $18,000 ($19,000 - $1,000).…

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS