Questions #1, 4 and 6 answers and work please!
Determine the- total first-year cost of car ownership for Milagros. She just purchased a vehicle valued for $15,000 with the following costs; Auto Amount-$15,000. Durational years, APR-6.65 percent property Taxes; 2 percent of vehicle value/year Sales Taxes: 3 percent of the sales price Title and Tags: $40/year Maintenance and Usage Costs: $1, 500/year Insurance: $2,000/year Use your financial calculator to compute the monthly payment and the total amount spent for a vehicle that costs $20,000 if you finance the entire purchase over 5 years a an annual interest rate of 6 percent. Also calculate the payment if ' finance the car for only 4 years. Finally, calculate the payment for 3 years. What do you notice about the payment under the different time assumptions? Use your financial calculator to compute the monthly payments for a vehicle that costs $15,000 if you finance the entire purchase over 4 years at an annual interest rate of 6 percent. Also calculate the loan payments assuming rates of 5 percent ' and 7 percent. Compare the total amount spent on the vehicle under each assumption. Annie's mortgage statement shows a total payment of $699.12, with $604.60 paid toward principal and interest and $94.52 paid for taxes and insurance. Taxes and insurance for 3 months were collected at closing. Now after 6 months of payments, she is curious about the total in her escrow account. Calculate the amount for her. and explain the account. Calculate ate the monthly payments on a 30-year fixed-rate mortgage at 5 percent for 0. How much interest is paid over the life of the loan? Calculate how much money a prospective home owner would need for closing a house that costs $100,000. Calculate based on a 20 percent down pay-o discount points on the loan, a one-point origination fee, and $1, 400 in financial calculator to determine the monthly payments for each of the $100,000 mortgage loans. Assume no prepayments. 30-year fixed at 5 percent 15-year fixed at 4 percent year 20-year fixed at 4.5 percent