A home buyer buys a house for $225,000. She pays 20% cash, and takes a fixed-rate mortgage for ten years at 6.26% APR. If she makes bimonthly payments, which of the following is closest to each of her payments?

$932.05

$1165.07

$937.50

$915.08

A house costs $138,000. It is to be paid off in exactly ten years, with monthly payments of $1675. What is the APR of this loan?

8.75%

0.73%

7.29%

9.25%

10.5%

A pottery factory purchases a continuous belt conveyor kiln for $50,000. A 6.5% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $501, over what term is this loan being paid?

12 years

10 years

13 years

11 years

A $40,000 new car loan is taken out with the terms 9% APR for 48 months. How much are monthly payments on this loan?

$833.33

$1002.56

$995.40

$769.79

A construction company takes a loan of $280,000 to cover the cost of a new grader. If the interest rate is 8.75%APR, and payments are made monthly for five years, what percentage of the outstanding principal does the company pay in interest each month?

8.75%

0.73%

7.29%

9.25%

10.5%