Question
1a. What is the payment on a 60-month, $10,000 car loan with APR of 4.61%? 1b. In the first payment on a 60-month, $10,000 car
1a. What is the payment on a 60-month, $10,000 car loan with APR of 4.61%?
1b. In the first payment on a 60-month, $10,000 car loan with APR of 4.96%, how much pays off the principal?
1c. After making 46 payments on a 60-month, $10,000 car loan with APR of 6%, what is the outstanding balance on the loan?
1d. A loan with monthly compounding has an APR of 5%. What is the periodic interest rate?
1e. What is the effective annual rate of a savings account that pays an APR of 16% and compounds quarterly?
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1a The payment on a 60month 10000 car loan with an APR of 461 can be calculated using the loan payment formula P A D r 1 1 rn where P is the payment A ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
