Juliana is taking out an $8,700, 3-year loan with an APR of 2.31%. What will be the
Question:
Juliana is taking out an $8,700, 3-year loan with an APR of 2.31%. What will be the monthly payment for this loan? Round to the nearest cent.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (8 reviews)
We will use the formula APert to the P for each month A8700...View the full answer
Answered By
Dorcus Mwamisi
I've much experience in tutoring
I've tutored a lot of students in my field of works and they have done greatly in their academics
I
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
Question Posted:
Students also viewed these Mathematics questions
-
When Michelle retires in 12 years, she wants to receive $250.00 payments at the start of every month for 20 years from her RIF that earns 2.60% compounded semi-annually. What beginning of quarter...
-
Juliana is taking out an $8,700, 3 1/2-year loan with an APR of 9.31%. What will be the monthly payment for this loan?
-
What will be the 13C frequency setting of an NMR spectrometer that operates at 100 MHz for protons?
-
Staircase Equipment Company uses a job order cost system. The following data summarize the operations related to production for April 2014, the first month of operations: Materials purchased on...
-
Briefly explain the pros and cons of daily price limits in futures markets.
-
The entrance fee into Yellowstone National Park in northwestern Wyoming is $30 for a private, noncommercial vehicle; $25 for a motorcycle or a snowmobile; or $15 for each visitor 16 and older...
-
If you were trying to examine this issue, how would you proceed? Any suggestions for me to take next steps? same. Is that what happened? You normally wouldnt borrow money from the company, would you?
-
Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials1 pound plastic at $7.00 per pound .... $ 7.00 Direct labor1.6 hours at $12.00...
-
A car traveling 87.0 km/h is 1500 m behind a truck traveling at 74.0 km/h. How far from its initial position does the car have to travel to catch up to the truck.
-
C++ Chapter 10 defined the class circleType to implement the basic properties of a circle. (Add the function print to this class to output the radius, area, and circumference of a circle.) Now every...
-
The Kings Park Register gives senior citizens a 10% discount on automotive ads. Mr. Quadrino, a senior citizen, is selling his car and wants to take out a four-line ad. The paper charges $6.50 per...
-
Ben has been accepted into a 2-year culinary arts program at the Greenfield Career Institute. He has been approved for a $5,000 unsubsidized 10-year federal loan at 4.29%. He knows he has the option...
-
Assume that the amount of time to prepare and deliver a pizza from Pepes Pizza is normally distributed with a mean of 20 minutes and standard deviation of 5 minutes. Determine the percent of pizzas...
-
Why might the Bank of Canada decide to raise the overnight loans rate in 2018? In September 2015, the unemployment rate was 7.0 percent, the inflation rate was 0.1 percent, and the overnight loans...
-
Imagine that you and a small team of two to five colleagues are working with a medium-sized retail company that is expanding internationally. Although the headquarters will remain in Columbus, Ohio,...
-
Many people stopped using cash in the early 2000s because they found debit cards were more convenient. Smartphones are now doing to plastic what cards did to cash. If people can use their smartphone...
-
Explain why property investors are expected to sell in London and buy in New York and why a fall in the pound might make this predicted effect of Brexit less likely. Property investors are looking...
-
Why might the Bank of Canada decide to keep the overnight loans rate at 1 percent in 2018? In September 2015, the unemployment rate was 7.0 percent, the inflation rate was 0.1 percent, and the...
-
Johan, a public limited company, operates in the telecommunications industry. The industry is capital intensive with heavy investment in licences and network infrastructure. Competition in the sector...
-
A line l passes through the points with coordinates (0, 5) and (6, 7). a. Find the gradient of the line. b. Find an equation of the line in the form ax + by + c = 0.
-
A consumer budgets $480 per month for transportation. She has determined that the cost of a round-trip train ride is $4 and the cost of each round-trip car ride (factoring in gas, oil, etc.) is $3....
-
Create a year-long budget check-off matrix to chart the following transportation related expenses: Fuel: monthly; Insurance: quarterly; Servicing: every three months; Car wash: bimonthly; Parking:...
-
Create a year-long budget matrix to chart these expenses: Savings: $600 bimonthly (starting in January); Retirement account: $2,000 quarterly; Checking account: $1,000 semi-monthly; Credit card: $500...
-
3. Light of wavelength 430 nm is incident on the face of a prism shown below. The light hits the face of the prism at an angle of 40 with respect to the normal of the surface. The apex of the prism...
-
Alpha = 280 N F = 59 Theta2z (Beta 59 139.19 A) F, in vector format 4)F B) F in vector format 2 c) Resultant force D) magnitude of Fr comp E) unit vector along resultant force Coordinates direction...
-
The resolution of a telescope is ultimately limited by the diameter of its objective lens or mirror. A typical amateur astronomer's telescope may have a 6 . 0 5 in diameter mirror. What is the...
Study smarter with the SolutionInn App