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- Define Add-on interest loansIf you put your $100 into a saving account which earns 5% interest, how long does it take for your money to double?You are looking for a car to lease. Your income is $3,000 per month, and you know that you should not spend more than 20 percent of your income on a car payment. You have found four deals in the table below. options Location Monthly Rent Toyota Camry $400 Lincoln MKZ $660 Ford Fusion $380 BMW 740 $720 Instructions: In order to receive full credit, you must make a selection for each option. For the correct answer(s), click the box once to place a checkmark. For the incorrect answer(s), click the option twice to empty the box. Suppose you adhere to the 20 percent guideline but also receive a $100 monthly allowance from your parents towards your car payment, which option(s) fall within your budget? Group of answer choices Toyota Camry Lincoln MKZ Ford Fusion BMW 740
- You take out a loan of $12,000 to pay for a piece of equipment. You plan to repay the loan in 16 years. You can afford to pay a maximum of $1,100 each year. What interest rate would allow for you to pay off the entirely of the loan in equal payments?Please do it on an excel sheet so i can see how to do itWhat is a transfer payment?
- What can be best said about a banker whose interest rate is 20% on a one-year loan worth $1000 today?What will be the Savings given that income is $3200 and APS is 0.48Give typing answer with explanation and conclusion Michael can afford car payments of $275 a month for 72 months. The bank will lend him this money at 11.40 percent APR. How much can Michael borrow?
- Asap What would the value of spending be if you had $1300 in savings and $2250 in income?Bobby took out a single loan for $500 and paid a $50 fee. His loan is due in 1 week. Find the effective interest rate on the loan Bobby took out. Round the answer to one decimal place.hazel borrowed 100,000 and must repay a total of 130,000 exactly two years later. How much is the interest paid? what is the interest rate?