Juliana is taking out an $8,700, 3-year loan with an APR of 2.31%. What will be the
Question:
Juliana is taking out an $8,700, 3-year loan with an APR of 2.31%. What will be the monthly payment for this loan? Round to the nearest cent.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (8 reviews)
We will use the formula APert to the P for each month A8700...View the full answer
Answered By
Dorcus Mwamisi
I've much experience in tutoring
I've tutored a lot of students in my field of works and they have done greatly in their academics
I
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
Question Posted:
Students also viewed these Mathematics questions
-
When Michelle retires in 12 years, she wants to receive $250.00 payments at the start of every month for 20 years from her RIF that earns 2.60% compounded semi-annually. What beginning of quarter...
-
Juliana is taking out an $8,700, 3 1/2-year loan with an APR of 9.31%. What will be the monthly payment for this loan?
-
What will be the 13C frequency setting of an NMR spectrometer that operates at 100 MHz for protons?
-
Staircase Equipment Company uses a job order cost system. The following data summarize the operations related to production for April 2014, the first month of operations: Materials purchased on...
-
Briefly explain the pros and cons of daily price limits in futures markets.
-
A defibrillator containing a 20-F capacitor is used to shock the heart of a patient in serious condition by attaching it to the patients chest. Just prior to discharging, the capacitor has a...
-
A marble is placed near a plane mirror as shown in Figure P24.8. (a) Where will the image be located? (b) How does the image location change as the observer moves closer to the mirror? (c) How does...
-
Patagucci Inc. manufactures and sells athletic equipment. The company began operations on August 1, 2012, and operated at 100% of capacity (66,000 units) during the first month, creating an ending...
-
The Marchmain Family Trust, an inter-vivos trust settled by a family friend, had the following income and expenses for the year ended 30 June CY and is classified as an SBE. Interest= 32,000 Net...
-
(a) Find a quantitative expression for the thermal equilibrium concentration n = n+ = n in the particle-antiparticle reaction A+ + A = 0. The reactants may be electrons and positrons; protons and...
-
The Kings Park Register gives senior citizens a 10% discount on automotive ads. Mr. Quadrino, a senior citizen, is selling his car and wants to take out a four-line ad. The paper charges $6.50 per...
-
Ben has been accepted into a 2-year culinary arts program at the Greenfield Career Institute. He has been approved for a $5,000 unsubsidized 10-year federal loan at 4.29%. He knows he has the option...
-
Transactions include the following: 1. Declaration of stock dividend. 2. Purchase of 50 percent of the outstanding stock of another company. 3. Payment of previously accrued interest payable. 4....
-
Arizona Corp. had the following account balances at 12/1/19: Receivables: $96,000; Inventory: $240,000; Land: $720,000; Building: $600,000; Liabilities: $480,000; Common stock: $120,000; Additional...
-
Construct a 90% confidence interval for the population standard deviation o at Bank A. Bank A 4.2 5.4 5.9 6.1 6.6 7.7 7.7 8.6 9.3 10.0
-
Margin of Error For the poll described in Exercise 1, describe what is meant by the statement that "the margin of error was given as +3.5 percentage points."
-
1) Explain what the critical issue was in the Uber decisions in the First Circuit (Culliane case), and the Second Circuit (Myer case), and how each court, looking at the same facts, came to opposite...
-
IFRS LEASE 1. Kappa Berhad enters into a 10-year lease on 1 January 2020. Kappa Berhad incurred the following costs in respect of the lease: RM2,500 legal fees RM15,000 deposit made at the...
-
An arbelos is the region enclosed by three mutually tangent semicircles; it is the region inside the larger semicircle and outside the two smaller semicircles (see figure). a. Given an arbelos in...
-
Tell whether the angles or sides are corresponding angles, corresponding sides, or neither. AC and JK
-
A consumer budgets $480 per month for transportation. She has determined that the cost of a round-trip train ride is $4 and the cost of each round-trip car ride (factoring in gas, oil, etc.) is $3....
-
Create a year-long budget check-off matrix to chart the following transportation related expenses: Fuel: monthly; Insurance: quarterly; Servicing: every three months; Car wash: bimonthly; Parking:...
-
Create a year-long budget matrix to chart these expenses: Savings: $600 bimonthly (starting in January); Retirement account: $2,000 quarterly; Checking account: $1,000 semi-monthly; Credit card: $500...
-
On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,600,000. During 2021, costs of $2,200,000 were incurred with...
-
Salespersons' Report and Analysis Walthman Industries Inc. employs seven salespersons to sell and distribute its product throughout the state. Data taken from reports received from the salespersons...
-
Stockholders do not have the power to bind the corporation to contracts. This is referred to as lack of mutual agency. True false question. True False
Study smarter with the SolutionInn App