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Please help with these questions! (Provide step-by-step) You can afford a $350 per month car payment. You've found a 3 year loan at 9% interest.
Please help with these questions! (Provide step-by-step)
You can afford a $350 per month car payment. You've found a 3 year loan at 9% interest. How big of a loan can you afford? Round your answer to the nearest cent as needed. Submit Question You can afford a $1500 per month mortgage payment. You've found a 30 year fixed loan at 7.2% interest. Round all answers to the nearest cent as needed. a) How big of a loan can you afford? $ b) How much total money will you pay the loan company? $ c) How much of that money is interest? $ Submit Question You want to buy a $203,000 home. You plan to pay 20% as a down payment, and take out a 30 year fixed loan for the rest. Round all answers to the nearest cent as needed. a) How much is the loan amount going to be? $ b) What will your monthly payments be if the interest rate is 4.6%? $ c) What will your monthly payments be if the interest rate is 5.6%? $ Submit Question You want to be able to withdraw $25,000 from your account each year for 30 years after you retire. If you expect to retire in 25 years and your account earns 7.2% interest while saving for retirement and 4% interest while retired: Round your answers to the nearest cent as needed. a) How much will you need to have when you retire? b) How much will you need to deposit each month until retirement to achieve your retirement goals? $ c) How much did you deposit into you retirement account? d) How much did you receive in payments during retirement? e) How much of the money you received was interest? Submit
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