Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Extra.Credit 1: You are taking out a car loan in the amount of $32.500. The of the loan is 5 years and the interest rates

image text in transcribed
Extra.Credit 1: You are taking out a car loan in the amount of $32.500. The of the loan is 5 years and the interest rates 3.9% Construct the monthly payment schedule for the first months she loan for each month indicate the amount of interest paid and the amount paid to the principal Alter 24 months. you decide to say off the loan. How much should you pay the banke? Extra Credit2: This extra credit requires the use of the nature function on your calculator. This keyin typically desiguated as their key. Some of you may already know about the worlog function . For the monthly payment equation that you have known The can be found from 12. Payment- Use thisquation to work the following problem: You just made a purchase of $1.200 using your credit card and the card only requires a monthly payment of $25. The cand care an interest rate of ex. If you plan their How long will take you to pay off the balance? How much interest will you pay? Extra Credit 3. Your credit card has a 30-day billing period and carries a 1.5 monthly interest rate. You received a stalement on the 1 of the month and showed a balance of $2500 Here is my of your activities Day Nov1 Balance of S250 Nov 6 You make a payment of $250 Nov You spent 536 Nov 10 You spent $125 on groceries Nov 12 You spent $100 automobile parts News You spent Start Nov 17 You spent $170 ata shopping mall Now 21 Youth You retumsomes and recedit for 500 Now 27 You get $215 proces Determine the Average Daily Balance and the interest that you are charged for the next biling cycle Extra.Credit 1: You are taking out a car loan in the amount of $32.500. The of the loan is 5 years and the interest rates 3.9% Construct the monthly payment schedule for the first months she loan for each month indicate the amount of interest paid and the amount paid to the principal Alter 24 months. you decide to say off the loan. How much should you pay the banke? Extra Credit2: This extra credit requires the use of the nature function on your calculator. This keyin typically desiguated as their key. Some of you may already know about the worlog function . For the monthly payment equation that you have known The can be found from 12. Payment- Use thisquation to work the following problem: You just made a purchase of $1.200 using your credit card and the card only requires a monthly payment of $25. The cand care an interest rate of ex. If you plan their How long will take you to pay off the balance? How much interest will you pay? Extra Credit 3. Your credit card has a 30-day billing period and carries a 1.5 monthly interest rate. You received a stalement on the 1 of the month and showed a balance of $2500 Here is my of your activities Day Nov1 Balance of S250 Nov 6 You make a payment of $250 Nov You spent 536 Nov 10 You spent $125 on groceries Nov 12 You spent $100 automobile parts News You spent Start Nov 17 You spent $170 ata shopping mall Now 21 Youth You retumsomes and recedit for 500 Now 27 You get $215 proces Determine the Average Daily Balance and the interest that you are charged for the next biling cycle

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Markets And Institutions

Authors: Anthony Saunders, Marcia Cornett

8th Edition

1264098723, 978-1264098729

More Books

Students also viewed these Finance questions