Question: 5 years 11.5% APR - rate is 2.199 Mark borrowed $5,500 at 11.5 percent for five years. What is the amount of Mark's total payment?

5 years 11.5% APR - rate is 2.199

Mark borrowed $5,500 at 11.5 percent for five years. What is the amount of Mark's total payment?

Mark borrowed $5,500 at 11.5 percent for five years. How much did Mark pay in interest?

Mark borrowed $5,500 at 11.5 percent for five years. What is his monthly payment?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Q:

A torsion-bar spring consists of a prismatic bar, usually of round cross section, that is twisted at one end and held fast at the other to form a stiff spring. An engineer needs a stiffer one than...

Q:

Financial planning cases 7-1 The Johnsons' Credit Questions They are considering trading their car in for a newer used vehicle so that Harry can have dependable transportation for commuting to work....

Q:

The student number is same as the amount borrowed is $776655,Use Excel fomular to fill up the empty space and show the steps that how to use excel fomular to calculate: Assumptions: 1. You have a...

Q:

Section 1 - Structural questions (Q1: 19 marks; Q2: 30 marks; Q3: 17 marks; Q4: 14 marks; 80 marks in total and it will translate to 10% of the overall mark of the module) 1. Mr. D is a social...

Q:

Section 1 - Structural questions (Q1: 19 marks; Q2: 30 marks; Q3: 17 marks; Q4: 14 marks; 80 marks in total and it will translate to 10% of the overall mark of the module) 1. Mr. D is a social...

Q:

Section 1 - Structural questions (Q1: 19 marks; Q2: 30 marks; Q3: 17 marks; Q4: 14 marks; 80 marks in total and it will translate to 10% of the overall mark of the module) 1. Mr. D is a social...

Q:

12 Chapter A4148 23218 6/8/01 6:25 PM Page 361 12Initiating Objectives After reading this chapter, you will be able to: 1. Understand the importance of initiating projects that add value to an...

Q:

Need to complete 10 homework but now i need 5 homework then after some time 5 homework more. Here it is attachment. Chapter 5 HW Questions [ALL OF THESE MUST BE DONE IN EXCEL] 1. Future value: Chuck...

Q:

UNIT 5 QZ, Q-20 UNIT 5 / UNIT 8 QUESTIONS KEEP ANSWERS SEPARATE BY UNITS UNIT II STUDY GUIDE Consumer Mathematics Reading Assignment See information below. Key Terms 1. Add-on interest method 2....

Q:

Please help me with questions 1-18 , has to be in Excel 6.1. Future value with multiple cash flows: Konerko, Inc., expects to earn cash flows of $1 years. If the company uses an 8 percent discount...

Q:

check the answer which i did wrong and help me change the right answer 4 points each. Show all work. No Blanks. Full credit for correct answers and work shown. credit for incorrect answers and work...

Q:

IDENTIFY AND EVALUATE MARKETING OPPORTUNITIES Your organization has decided to enter a new market. Draft a memo to key stakeholders describing the new market and show evidence that it is applicable...

Q:

Using automatic transfers, Jacob was able to deposit $4800 last year into his saving portfolio (high-yield savings account, certificate of deposit, and cryptocurrency portfolio). Last year, his...

Q:

Question 1 0 Which of the following is an expected outcome of clonidine? Hypertension Blood sugar elevation Sleeplessness Retaxation

Q:

A company issues 1,050 shares of its common stock for $33,600 cash. Prepare journal entries to record this event under each of the following separate situations.