A man buys a car for $3000 with no money down. He pays for the car in
Question:
A man buys a car for $3000 with no money down. He pays for the car in 30 equal monthly payments with interest at 12% per annum, compounded monthly. What is his monthly loan payment?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (18 reviews)
P 3000 A i 1 month ...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
1. A man buys a car for $36,000. If the interest rate on the loan is 12%, compounded monthly, and if he wants to make monthly payments of $900 for 36 months, how much must he put down? 2. A woman...
-
The monthly payments on a $30,000 loan at 10.5% compounded monthly were calculated to repay the loan over a 10-year period. After 32 payments were made, the borrower became unemployed and, with the...
-
A $40,000 mortgage loan charges interest at 6.6% compounded monthly for a four-year term. Monthly payments were calculated for a 15-year amortization and then rounded up to the next higher $10. a....
-
A client of Park Street's expected a delivery of samples for an event on Friday evening. The order was setup correctly by Park Street, however the vendor that was hired to pick up and deliver the...
-
What explains the directionality of flows in health care? Patients, health workers, managerial practices?
-
Figure details the process flow for two types of customers who enter Barbaras Boutique shop for customized dress alterations. After step T1, Type A customers proceed to step T2 and then to any of the...
-
An observatory has a telescope that requires an initial investment of $\$ 25,000$. A benefactor will provide a $\$ 7,500$ gift every 5 years as long as the university makes the telescope available to...
-
Gunkelson Company sells equipment on September 30, 2014, for $18,000 cash. The equipment originally cost $72,000 and as of January 1, 2014, had accumulated depreciation of $42,000. Depreciation for...
-
Question 1 [13] The Department of Sport Development has been given a grant of R600 million to expand its public sport facilities. The city council has requested the following four different types of...
-
CASE #3 SUPPLY CHAIN MANAGEMENT LEARNING OBJECTIVES 1 Definition and main terms of Supply Chain Management in organization. 2 Definition of Supply Chain Manager and description of the main duties...
-
The first of a series of equal semiannual cash flows occurs on July 1, 1997, and the last occurs on January 1, 2010. Each cash flow is equal to $128,000. The nominal interest rate is 12% compounded...
-
On January 1, Frank Jenson bought a used car for $4200 and agreed to pay for it as follows: 1/3down payment; the balance to be paid in 36 equal monthly payments; the first payment due February loan...
-
Use Holt-Winters additive method to create a seasonal model that minimizes the MSE for the data set. Use Solver to determine the optimal values of , , and . a. What are the optimal values of , , and...
-
b) A deflection type spring balance for measuring mass is calibrated in an environment at a temperature of 20C. When used at 40C there will be some error in the measured values according to the...
-
(a) A solid driveshaft from a turboprop engine of circular cross section has a radius of 72mm. Due to the material properties of the shaft, the shear stress is limited to 80MPa and has a modulus of...
-
The resultant couple of the three couples shown is zero. Determine the magnitudes of F and P given that d1 = 850 mm and d2 = 470 mm. Z F= O P = 300 mm F LL d2 300 N N A N Y -F 300 N Note: Fill your...
-
Hope everyone is doing well. Here in this email I am providing how you should calculate the percentage of yield in the PHASE TRANSFER CATALYSIS experiment. Initially every group took 2ml of reaction...
-
0 of 1 A metal cube dissolves in acid such that an edge of the cube decreases by 0.80 mm/min. How fast is the volume of the cube changing when the edge is 7.40 mm
-
Macroeconomics is the study of the behavior of the overall economy. a) True b) False
-
Anne is employed by Bradley Contracting Company. Bradley has a $1.3 million contract to build a small group of outbuildings in a national park. Anne alleges that Bradley Contracting has discriminated...
-
Amazon.com issued an initial public offering in May 1997. Prior to its IPO, the following information on shares outstanding was listed in the final prospectus: In the IPO, the firm issued 3,000,000...
-
Use the annual marginal costs to find the economic service life for Problem on a spreadsheet. Assume the salvage value s are the best estimates of future market value. Develop an Excel chart of...
-
In Example the market value ( salvage value ) series of the proposed $38 million replacement kiln (GH) dropped to $25 million in only 1 year and then retained 75% of the previous year's market value...
-
In a one-year-later analysis, what action should be taken if? (a) All estimates are still current and the year is nD, (b) All estimates are still current and the year is not nD, (c) The estimates...
-
3. Consider the following function: (X,Y,Z) = [[M(0,3,6,7) a. (2 points) Create a filled truth-table for this system b. (2 points) Write the canonical SOP Boolean expression for this system c. (2...
-
10t) The sum of signal x(t) = sin(40 10 t) and AWG noise n(t) is fed to a filter H(f) whose spectral characteristic is shown in the figure. Input noise power density is No-10-6 [W/Hz] 1 |H(f)\ 18...
-
A typical telephone channel has the bandwidth of 3100 Hz can support dial-up modems that can variable speeds depending on the quality of the links on both ends of the data call. a) (4 points)...
Study smarter with the SolutionInn App