Question
MUST ANSWER ALL Sam borrows $30,598.00 to buy a vehicle. He will make monthly payments for 6 years. The vehicle loan has an interest rate
MUST ANSWER ALL
Sam borrows $30,598.00 to buy a vehicle. He will make monthly payments for 6 years. The vehicle loan has an interest rate of 5.33%. After 11.00 months Sam decides to pay off his vehicle loan. How much money must he give the bank?
Sam decides to buy a new vehicle. The dealership offers him a choice of paying $526.00 per month for 5 years (with the first payment due next month) or paying some amount today. He can borrow money from his bank to buy the vehicle. The bank requires a 6.00% interest rate. What is the most that he would be willing to pay today rather than making the payments?
Sam plans to buy a $26,780.00 car. The dealership offers zero percent financing for 54.00 months with the first payment due at signing (today). Sam would be willing to pay for the vehicle in full today if the dealership offers him $____ cash back. He can borrow money from his bank at an interest rate of 4.67%.
Suppose you deposit $1,095.00 into an account 7.00 years from today that earns 12.00%. It will be worth $1,735.00 _____ years from today.
Answer ALL in currency format round to 2 decimal places. MUST ANSWER ALL or do not attempt one question set.
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