Question
I need this now please.. 1 - Determine theequal, annual,end-of-year payment required over the life of the following loans to repay them fully during the
I need this now please..
1 -Determine theequal, annual,end-of-year payment required over the life of the following loans to repay them fully during the stated term.
LoanPrinciple ($)Interest RateType of Loan (Yrs)Annual Payment ($)
A10,0001017__________(Round to the nearestcent.)
B20,000157__________(Round to the nearestcent.)
2 -You are considering the purchase of a BMW M5. You will borrow the money from BMW Financial Services. The terms of the deal are outlinedbelow:
BMW M5
RWD, 500hp,0-100 in 4.7s
MSRP= $90,000
Term= 48 months
APR= 4%
Down Payment= $0
Monthly Payments= $2,032.11
The amortized loan payments are a blend of interest and principal. What is the total amount of interest you would pay over the life of theloan? Assume that taxes are zero.
What is the total amount of interest you would pay over the life of theloan?
$________________(Round to the nearestdollar.)
3 -The Shelby Cobra retails for $50,209 (all taxesincluded). What are the monthly loan payments for the car if you make a down payment of $4,343, the term is 2 years and the APR is 9%? (Car loan payments are made at the end of eachmonth.)
What is the amount of the monthlypayment?
$__________________Put the number to the nearestcent.)
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