Kk.328. (b) Her credit union has offered her a 8-year small business loan at an annual interest rateof 9.6%. Find the monthly payment.$0(c) Suppose Carmen pays the monthly payment each month for the full term. Whichlender's small business loan would have the lowest total amount to pay off, and by howmuch?O Savings and loan associationThe total amount paid would be $ less than to the credit union.Credit unionThe total amount paid would be s less than to the savings and loan association. Carmen is taking out an amortized loan for $88,000 to open a small business and is deciding between the offers from two lendersShe wants to know which one would be the better deal over the life of the small business loan, and by how much.Answer each part. Do not round intermediate computations, and round your answers to the nearest cent.If necessary, refer to the list of financial formulas.(a) A savings and loan association has offered her a 10-year small business loan at anannual interest rate of 9.6%. Find the monthly payment.${(b) Her credit union has offered her a 8-year small business loan at an annual interest rateof 9.6%. Find the monthly payment.$(c) Suppose Carmen pays the monthly payment each month for the full term, whichlender's small business loan would have the lowest total amount to pay off, and by howmuch?O Savings and loan associationThe total amount paid would be less than to the credit union.

Loans are paid by equal monthly installment payments but these payments are fixed and carry the…

Answered: Her credit union has offered her a…

Her credit union has offered her a 8-year small business loan at an annual inter of 9.6%. Find the monthly payment. $0 Suppose Carmen pays the monthly payment each month for the full term

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

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Keisha is taking out an amortized loan for s85,000 to open a small business and is deciding between the offers from two lenders. She wants to know which one would be the better deal over the life of the small business loan, and by how much. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) An online lending company has offered her a 10-year small business loan at an annual interest rate of 9.3%. Find the monthly payment. (b) A bank has offered her a 8-year small business loan at an annual interest rate of 9.3%. Find the monthly payment. (c) Suppose Keisha pays the monthly payment each month for the full term. Which lender's small business loan would have the lowest total amount to pay off, and by how much? O Online lending company The total amount paid would be $ less than to the bank. O Bank The total amount paid would be $| less than to the online lending company.
Keisha is taking out an amortized loan for $85,000 to open a small business and is deciding between the offers from two lenders. She wants to know which one would be the better deal over the life of the small business loan, and by how much. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) An online lending company has offered her a 10-year small business loan at an annual interest rate of 9.3%. Find the monthly payment. ? (b) A bank has offered her a 8-year small business loan at an annual interest rate of 9.3%. Find the monthly payment. () Suppose Keisha pays the monthly payment each month for the full term. Which lender's small business loan would have the lowest total amount to pay off, and by how much? O Online lending company The total amount paid would be $ less than to the bank. O Bank The total amount paid would be $| less than to the online lending company.
Linda is taking out an amortized loan for $91,000 to open a small business and is deciding between the offers from two lenders.She wants to know which one would be the better deal over the life of the small business loan, and by how much.Answer each part. Do not round intermediate computations, and round your answers to the nearest cent.If necessary, refer to the list of financial formulas. (a) AngeHer credit union has offered her a 8-year small business loan at an annual interest rate of 13.3%. Find the monthly payment.X(b)A savings and loan association has offered her a 9-year small business loan at an annual interest rate of 13.5 %. Find the monthly payment.Suppose Linda pays the monthly payment each month for the full term. Which lender's small business loan would have the lowest total amount to pay off, and by how much? Gredit unionThe total amount paid would be $ less than to the savings and loan association.Try againvings and loan association he total amount paid would be $less…
Charlie is taking out an amortized loan for $14,000 to buy a new car and is deciding between the offers from two lenders. He wants to know which one would be the better deal over the life of the car loan, and by how much. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) A savings and loan association has offered him a 6-year car loan at an annual interest rate of 7.2%. Find the monthly payment. ? $0 (b) An online lending company has offered him a 5-year car loan at an annual interest rate : of 7.2%. Find the monthly payment. $0 (c) Suppose Charlie pays the monthly payment each month for the full term. Which lender's car loan would have the lowest total amount to pay off, and by how much? O Savings and loan association The total amount paid would be $less than to the online lending company. O Online lending company The total amount paid would be less than to the savings and…
Heather is taking out an amortized loan for $21,000 to buy a new car and is deciding between the offers from two lenders. She wants to know which one would be the better deal over the life of the car loan, and by how much. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) A bank has offered her a 5-year car loan at an annual interest rate of 6.5%. Find the monthly payment. $0 (b) A savings and loan association has offered her a 7-year car loan at an annual interest rate of 6.5%. Find the monthly payment. $0 (c) Suppose Heather pays the monthly payment each month for the full term. Which lender's car loan would have the lowest total amount to pay off, and by how much? O Bank The total amount paid would be less than to the savings and loan association. X S
Ivanna is taking out an amortized loan for $37,000 to buy a new car and is deciding between the offers from two lenders. She wants to know which one would be the better deal over the life of the car loan, and by how much. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) A savings and loan association has offered her a 6-year car loan at an annual interest rate of 9.5%. Find the monthly payment. (b) A bank has offered her a 7-year car loan at an annual interest rate of 7.9%. Find the monthly payment. (c) Suppose Ivanna pays the monthly payment each month for the full term. Which lender's car loan would have the lowest total amount to pay off, and by how much? Savings and loan association The total amount paid would be $ less than to the bank. C Bank The total amount paid would be $ less than to the savings and loan association. の %24 %24
Ahmad is taking out an amortized loan for $25,000 to buy a new car and is deciding between the offers from two lenders.He wants to know which one would be the better deal over the life of the car loan, and by how much.Answer each part. Do not round intermediate computations, and round your answers to the nearest cent.If necessary, refer to the list of financial formulas . (a) A savings and loan association has offered him a 5 -year car loan at an annual interest rate of 9.3% . Find the monthly payment. $ (b) An online lending company has offered him a 5 -year car loan at an annual interest rate of 8.9% . Find the monthly payment. $ (c) Suppose Ahmad pays the monthly payment each month for the full term. Which lender's car loan would have the lowest total amount to pay off, and by how much? Savings and loan association The total amount paid would be$less than to the online lending company. Online lending company…
Christine is taking out an amortized loan for $22,000 to buy a new car and is deciding between the offers from two lenders.She wants to know which one would be the better deal over the life of the car loan, and by how much.Answer each part. Do not round intermediate computations, and round your answers to the nearest cent.If necessary, refer to the list of financial formulas . (a) An online lending company has offered her a 5 -year car loan at an annual interest rate of 10.3% . Find the monthly payment. $ (b) Her credit union has offered her a 6 -year car loan at an annual interest rate of 8.5% . Find the monthly payment. $ (c) Suppose Christine pays the monthly payment each month for the full term. Which lender's car loan would have the lowest total amount to pay off, and by how much? Online lending company The total amount paid would be$less than to the credit union. Credit union The total amount paid…
Shen is taking out an amortized loan for $75,000 to open a small business and is deciding between the offers from two lenders. He wants to know which one would be the better deal over the life of the small business loan, and by how much. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) His credit union has offered him a 9-year small business loan at an annual interest rate of 10.2%. Find the monthly payment. (b) An online lending company has offered him a 10-year small business loan at an annual interest rate of 10.4%. Find the monthly payment. (c) Suppose Shen pays the monthly payment each month for the full term. Which lender's small business loan would have the lowest total amount to pay off, and by how much? O Credit union The total amount paid would be $ less than to the online lending company. Online lending company The total amount paid would be $| less than to the…
Austin is taking out an amortized loan for $94,000 to open a small business and is deciding between the offers from two lenders. He wants to know which one would be the better deal over the life of the small business loan, and by how much. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) A bank has offered him a 10-year small business loan at an annual interest rate of 11.3%. Find the monthly payment. (b) An online lending company has offered him a 8-year small business loan at an annual interest rate of 14.2%. Find the monthly payment. re) Suppose Austin pavs the monthly pavment each month for the full t 2021 Continue %23 & 2 3 7.
Lashonda is taking out an amortized loan for $29,000 to buy a new car and is deciding between the offers from two lenders.She wants to know which one would be the better deal over the life of the car loan, and by how much.Answer each part. Do not round intermediate computations, and round your answers to the nearest cent.If necessary, refer to the list of financial formulas . (a) Her credit union has offered her a 7 -year car loan at an annual interest rate of 6.4% . Find the monthly payment. $ (b) A bank has offered her a 5 -year car loan at an annual interest rate of 6.4% . Find the monthly payment. $ (c) Suppose Lashonda pays the monthly payment each month for the full term. Which lender's car loan would have the lowest total amount to pay off, and by how much? Credit union The total amount paid would be$less than to the bank. Bank The total amount paid would be$less than to the credit union.
David is taking out an amortized loan for $13,000 to buy a new car and is deciding between the offers from two lenders. He wants to know which one would be the better deal over the life of the car loan, and by how much. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) A bank has offered him a 6-year car loan at an annual interest rate of 5.7%. Find the monthly payment. $0 (b) An online lending company has offered him a 7- year car loan at an annual interest rate of 5.7%. Find the monthly payment. $ (c) Suppose David pays the monthly payment each month for the full term. Which lender's car loan would have the lowest total amount to pay off, and by how much? O Bank The total amount paid would be $0 less than to the online lending company. O Online lending company The total amount paid would be $0 less than to the bank. X

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