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The following table shows annual rates for various types of loans in 2021. Assume monthly payments and compounding periods. HINT [See Examples 5 and 7.
The following table shows annual rates for various types of loans in 2021. Assume monthly payments and compounding periods. HINT [See Examples 5 and 7. Loan 30-Year Type Mortgage Rate 3.03% 15-Year New Car Used Car Mortgage Loan Loan 2.30% 9.45% 9.20% Credit Cards 13.99% You purchased a new car using a 5-year $35,000 loan in 2021. With the same monthly payments, how much could you have financed had the interest rate been 9.00% ? (Do not round the payment amount to the nearest cent. Round the final amount you could have financed to the nearest cent.) $ With the same monthly payments, how much could you have financed had the interest rate been 9.50% ? (Do not round the payment amount to the nearest cent. Round the final amount you could have financed to the nearest cent.) $ \begin{tabular}{|c|c|c|c|c|c|} \hline Losh & \begin{tabular}{l} 30-Year \\ Mortgege \end{tabular} & \begin{tabular}{l} 15-Yen \\ Merteage \end{tabular} & \begin{tabular}{l} Newicar \\ Losn \end{tabular} & \begin{tabular}{l} Uned car \\ Lesn \end{tabular} & \begin{tabular}{l} Gredit \\ Cards \end{tabular} \\ \hline suse & sens & 2105 & 920s & 9.45s & tram \\ \hline \end{tabular}
The following table shows annual rates for various types of loans in 2021. Assume monthly payments and compounding periods. HINT [See Examples 5 and 7. Loan 30-Year Type Mortgage Rate 3.03% 15-Year New Car Used Car Mortgage Loan Loan 2.30% 9.45% 9.20% Credit Cards 13.99% You purchased a new car using a 5-year $35,000 loan in 2021. With the same monthly payments, how much could you have financed had the interest rate been 9.00% ? (Do not round the payment amount to the nearest cent. Round the final amount you could have financed to the nearest cent.) $ With the same monthly payments, how much could you have financed had the interest rate been 9.50% ? (Do not round the payment amount to the nearest cent. Round the final amount you could have financed to the nearest cent.) $
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