Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 29, 2024

In the first payment on a 6 0 - month, $ 1 0 , 0 0 0 car loan with AP . R of 8

In the first payment on a

60 -

month, $

10, 000

car loan with AP

.

R of

8.95 %,

how much pays off the principal?

Round your answer to the nearest cent

(

one

-

hundredth

) .

Do not include the dollar sign, $

.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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 Management

Authors: Rob Quail, Ricardo J. Rodriguez

2nd Edition

1557868441, 9781557868442

More Books

Students also viewed these Finance questions

Question

★★★★★

The amplitudes of an EM wave are related by Em = cBm. Since c = 3.00 108 m/s, a classmate says that the electric field in an EM wave is much larger than the magnetic field. How would you reply?

Answered: 1 week ago

Question

★★★★★

Determine the maturity date and compute the interest for each of the following notes: Date of Note Principal Interest Rate (%) abcde a. August 5. $12,000 b. May 10. 33,600 C. October 20 48,000 12 d....

Answered: 1 week ago

Question

★★★★★

In order to describe a chance experiment, we have used the following (continuous) sample space = {(x, y) 5 x 5 and 3 y 7}. On this space, we define the following events: A = {(x, y) x = y},...

Answered: 1 week ago

Question

★★★★★

An aluminum calorimeter with a mass of 100 g contains 250 g of water. The calorimeter and water are in thermal equilibrium at 10.0C. Two metallic blocks are placed into the water. One is a 50.0-g...

Answered: 1 week ago

Question

★★★★★

Question 2 0 Additional Points - 5 ( this score will be adjusted manually ) . Consider the following two functions: f ( n ) = n 2 * * s i n ( n ) g ( n ) = n 2 * * ( 1 + 1 n ) Which of the following...

Answered: 1 week ago

Question

★★★★★

Guillermo gets a speeding ticket from Officer Speedtrap and hires Natascha, a licenced paralegal to defend him in court. They appear in front of Judge Friendly in provincial offences court. Who is...

Answered: 1 week ago

Question

★★★★★

Tom Hruise was an entertainment executive who had a fatal accident on a film set. Tom's will directed his executor to distribute his cash and stock to his spouse, Kaffie, and the real estate to a...

Answered: 1 week ago

Question

★★★★★

All questions are about NAFTA: 4-5+ sentences per question Are you able to describe the social environment impact on business NAFTA created? Based on your opinion, do you see a need for changes in...

Answered: 1 week ago

Question

★★★★★

You are a senior leader in a school or business and have been asked to conduct an internal audit of the organization's HR functions. If you were to write a memo to supervisors in your organization...

Answered: 1 week ago

Question

★★★★★

Determine the position of the centre of gravity (c.g.) and 2nd moment of inertia with respect to c.g. of the section shown below, where A = 6 mm and B 4 mm. X B a) Calculate the X = b) y A B mm with...

Answered: 1 week ago

Question

★★★★★

Create a variable named "$Cred" and use a parenthetical with the Get-Credential cmdlet Run this line of code and it will prompt you for the Username and Password for the remote computer. The results...

Answered: 1 week ago

Question

★★★★★

In what context did the study and teaching of communication begin?

Answered: 1 week ago

Question

★★★★★

Go to the placement offi ce on your campus and examine descriptions of available positions. Record the number of job notices that call for communication skills.

Answered: 1 week ago

Question

★★★★★

1. Some human resource department employees voice concerns when supervisors or team leaders get involved with the everyday problems of their workers. Discuss your thoughts regarding this issue.

Answered: 1 week ago

Previous Question Next Question