Question Help Shirley a recent college graduate, excitedly described to her older sister the $1.440 sota, table and chairs she found today. However, when asked she could not tell her sister which interest calculation method was to be used on her credit-based purchase Calculate the monthly payments and total cost for a bank loan assuming a one-year repayment period and 13 5 percent interest Now, assume the store uses the add-on method of interest calculation Calculate the monthly payment and total cost with a one-year repayment period and 11 5 percent interest Using the information above how much interest will Shirley "save" or be rebated if she can ready the loans after six months? Click on the table icon to view the MILPF table For a bank loan assuming a one-year repayment period and 13 5% interest me monthly payment is stRound to the nearest cont) Enter your answer in the answer box and then click CheckAnswer Which results in a lower total interest charge, borrowing 51 310 to be repaid 12 months later as a single-payment loan or borrowing $1,310 to be repaid as a 12-month installment loan? Assume a simple interest method of calculation at 11 25 percent interest Defend your answer. Click on the table icon to view the MILPF table The amount of interest on the single-payment foais Round to the nearest cent) Enter your answer in the answer box and then click Cheon Question Help Consumers should comparison shop for credit just as they would for any other consumer good or service. How might a consumer's stage of the financial Me-cycle- income net worth, or credit score affect the availability of loan sources and the associated cost of the loans offered? Which of the following statements is correct? (Select best answer below) OA Typically, stages of the financial life cycle income and net worth move inversely with credit score and the cost of the loans tends to be lower in early financial life cycle stages due to a sufficient supply of fund sources OB Typically stages of the financial life cycle income, and not worth move inversely with credit score and me cost of the loans tends to be higher in early financial life cycle stages due to an insufficiency of credit scores OC Typically stages of the financial life cycle income net worth and your credit score move in unison and the cost of the loans tends to be higher in early financial life cycle stages due to an insufficiency of credit scores Cock to select your answer and then click Check Answer 5 of 7 (0 complete) Problem P7-7 (similar to) HW Score: 0%, 0 of Question Help Antonio would like to replace his golf clubs with a custom measured set. A local sporting goods megastores advertising custom clubs for $950, including a new bag In store financing is available at 5 94 percent of he can choose not to renew he 3500 certificate of deposit (CD) which just matured The advertised CD renewal rates 724 percent Antonio knows the in-store financing costs would not affect his taxes, but he knows he'll pay taxes (25 percent federal and 5.75 percent state) on the CD interest earnings Should he cash the CD or Use the in-store financing? Why? The after tax CD earnings rate is 1% (Round to two decimal places Question Help Noel and Herman are now trying to decide between a 48-month and a 60-month car loan the loan is for S9 452 at 7percent, what is the difference in the monthly payments? Click on the table icon to view the Monthly installment Loan Payment Factor (MILPF) Table The monthly payment for the 48-month car loan is $ Round to the nearest cent) Problem P7-10 (similar to) HW Score: 0%, 0 of 7 Question Help What is the total amount Bae will have to repay for his $24.719 student loan if the interest rate is 4 percent over 10 years? What is the total amount he would have to repay it the $24.719 was a grant instead of a loan? Click on the table icon to view the Monthly installment Loan Payment Factor (MILPF) table m The total amount Bae will have to repay for his student loans is si (Round to the nearest cont
