a car loan of 25,293.25 is to be repaid with end-of-month payments of 554.68. If interest is 7% compounded monthly how long is the term of the loan? State your answer in years and months (from 0 to 11 months).
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a car loan of 25,293.25 is to be repaid with end-of-month payments of 554.68. If interest is 7% compounded monthly how long is the term of the loan? State your answer in years and months (from 0 to 11 months).
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- A car loan of $28,641.62 is to be repaid with end-of-month payments of $582.15. If interest is 4% compounded monthly, how long is the term of the loan? State your answer in years and months (from 0 to 11 months). It will require year(s) and month(s) to repay the loan.A car loan of $19,055.04 is to be repaid with end-of-month payments of $369.28. If interest is 4% compounded monthly, how long is the term of the loan? State your answer in years and months (from 0 to 11 months). It will require nothing year(s) and nothing month(s) to repay the loan.Find the length of the loan in months, if $1000 is borrowed with an annual simple interest rate of 3% and with $1030 repaid at the end of the loan. what is the length of the loan in months?
- A car loan of $37,412.98 is to be repaid with end-of-month payments of $725.06. If interest is 5% compounded monthly,how long is the term of the loan? State your answer in years and months (from 0 to 11 months).A 6-year car loan charges flat rate at 2.5% per annum, to be repaid by a monthly annuity-due. Calculatethe ENR in monthly rest of the loan. If the borrower decides to redeem early after 12, 24, 36, 48 and 60payments, calculate the ENR in monthly rest charged over these periods. If you could show me how to find the ENR number for the monthly rates if the borrower redeems it earlier that would be great thank you.Find the length of the loan in months, if $500 is borrowed with an annual simple interest rate of 3% and with $517.5 repaid at the end of the loan.
- Find the interest paid on a loan of $2,700 for one year at a simple interest rate of 11% per year. The interest on a loan is SFind the annual simple interest rate of a loan, where $200 is borrowed and where $218 is repaid at the end of 5 months.If $800 is borrowed and the interest after 6 months is $44, what is the annual interest rate for a simple interest loan?
- You are preparing a loan amortization table for a 1-year loan of $1000 with a monthly interest rate of 1%. What is your principal payment in month 3 of the amortization schedule?A car loan of $23,800 is to be repaid with bi-weekly payments of $164. How many payments are required to repay the loan at 7.2% p.a. compounded bi-weekly? What is the size of the final payment? Round your answer up to the next whole payment (6 months). Payments = See "Finding the value of the final payment" on Chapter 11 Formula Sheet. Also see Example 11.D on page 452 of Edition 12. Do not include the dollar sign in your answer. Value of final payment = Watch this anAssume the following information for a car note: Original loan amount = $23,500 Annual interest rate = 7.25% Term of loan = 24 months What is the principal balance on the loan after six months?
