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Please answer all the parts of the questions. You have taken out a 60 -month, $18,000 car loan with an APR of 4%, compounded monthly.
Please answer all the parts of the questions.
You have taken out a 60 -month, $18,000 car loan with an APR of 4%, compounded monthly. The monthly payment on the loan is $331.50. Assume that right after you make your 50 th payment, the balance of the loan is $3,255.03. How much of your next payment goes toward principal and how much goes toward interest? Compare this with the prinicipal and interest paid in the first month's payment. (Note: Be careful not to round any intermediate steps less than six decimal places.) The amount that goes towards interest is $ (Round to the nearest cent.) You are thinking about investing $4,969 in your friend's landscaping business. Even though you know the investment is risky and you can't be sure, you expect your investment to be worth $5,706 next year. You notice that the rate for one-year Treasury bills is 1%. However, you feel that other investments of equal risk to your friend's landscape business offer an expected return of 11% for the year. What should you do? The present value of the return is $ (Round to the nearest cent.) You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current monthly payment is $1,850 and you have made every payment on time. The original term of the mortgage was 30 years, and the mortgage is exactly four years and eight months old. You have just made your monthly payment. The mortgage interest rate is 7.500% (APR). How much do you owe on the mortgage today? (Note: Be careful not to round any intermediate steps less than six decimal places.) The amount you owe today is $ (Round to the nearest dollar.)
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