Manuel has a $300,000 loan to be paid back with 5.329% interest over 30 years. What are Manuel's monthly payments? 1647.9 x How much in total does Manuel pay to the bank? 593244 x How much interest does Manuel pay? 293244 x Comparing Michele and Manuel's interest, how much more does Manuel pay over the lifetime of the loan? 3408
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- Charles has just taken out a loan at an annual rate of 12%. Based on the conditions of the loan, he must make payments of $1,200 per year for 15 years in order to repay the full amount of the loan. How much money did Charles borrow? O $8.173.04 O $44,735.66 O $18,000.00 O $6,504.74Alex would like to purchase a new car for $15,000. How much will his monthly payments be if he took out a 3-year loan at 7% interest? $436.16 $463.16 $466.13 O $406.63Noor is buying a home with a $200,000 mortgage using a 5.5 percent, 30-year loan. How much of the first month's payment will go toward the principal if the payment per $1000 on this loan is $5.6779? O a. $917 O b. $219 O c. $0 O d. $538
- Jonathan wishes to buy a used chevy malibu for $12,500. He only has $1,000 for a down payment so th ebest deal he can get on a loan is 9% for 48 months a.) what will his payments be? b.)What is the total interest over the life of the loan?If Greg borrows $140.00 from the bank at 6.5% exact simple interest, how much interest does Greg owe if he pays back the money after 250 days?Curtis buys a piece of commercial property for $230,000. He is offered a 20-year loan by the bank, at an interest rate of 9% per year. The loan requires annual payments to be made. What is the annual loan paymen Curtis must make assuming the first payment will be due one year from the date of purchase? O A. $40,313.10 O B. $30,234.83 O C. $35,273.97 O D. $25,195.69 O Time Remaining: 00:29:43 Next dtv 11 DD F11 F9 F10 F8 F7 F5 esc F4 F2 F3 F1 & @ 2# $ % 8 1 3. 4 { P < CO
- A college student, needs to borrow $5,000 today for his tuition bill. He agrees to pay back the loan in a lump-sum payment 5 years from now, after he is out of college. The bank states that the payment will need to be $7,012.76. If John borrows the $5,000 from the bank, what nominal interest rate is he paying on his loan? O 7.5% O 7% O 7.25% O 8%Charlotte wants to get a loan for $598000 to buy a house. The bank charges an annual interest rate of 2.01%. The loan period is 15 years. How much is the monthly mortgage payment? A. ($3,851) B. ($3,099) O C.($3,028) O D. ($4,678)Theo wants to take out a loan. He takes out a loan for 15000 dollars at 3,7% quarterly interest, compounded quarterly. The loan is for a period of 5 years with end of the quarter payments of 824,97 dollars a) How much does Theo still owe after 3 years. b) After 3 years, how much of Theo's next payment will actually go towards paying off the loan? How much is paid in interest for this payment?
- Sarah graduated from college with $29000 in student loan debt. The annual rate on her loans is 6 percent simple interest, and she will make monthly payments for 10 years. What is the remaining balance on her loan after five years, or 60 months? (Hint: Use the amortization function on your financial calculator or Excel Worksheet 5.6.) O $14500 O $16654 O $9682 $19318Suppose Allison purchases a condominium and secures a loan of P13,400,000 for 30 years at an annual interest rate of 6.5%. a. Find the monthly mortgage payment. b. What is the total of the payments over the life of the loan? c. Find the amount of interest paid on the loan over the 30 yearsA man plans to take a vacation in 4 years. He wants to buy a certificate of deposit for $1200 that he will cash in for the trip. What is the minimum annual interest rate he must obtain on the certificate if he needs at least $1700 for the trip? Assume that the interest on the loan is computed using simple interest The rate he must obtain is ___%