Question: Question 8 (1 point) If Sally had decided to borrow the money for a $20,000 car from her brother rather than the finance company, and

Question 8 (1 point) If Sally had decided to borrow the

Question 8 (1 point) If Sally had decided to borrow the money for a $20,000 car from her brother rather than the finance company, and would have to pay him 1.5% annual interest compounded monthly for 48 months, what would her payments be? 1) $389.96 2) $411.26 3) $429.55 4) $437.31 5) $447.83

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 Finance Questions!

(a) An aqueous solution contains 12.6 ppm of dissolved Ca(NO 3 ) 2 (which gives Ca 2 + + 2NO - 3 ). Find the concentration of NO - 3 in parts per million. (b) How many ppm of Ca(NO 3 ) 2 are in 0.144...

Question 6 (1 point) Sally intends to put $ 1,000.00 in a savings account today, and expects to earn 6 % interest compounded semi-annually on this money for 3 years. How much will she have at the end...

Question 4 (1 point) If Sally had decided to borrow the money for the car in the previous question from her brother rather than the finance company, and would have to pay him 3 % interest compounded...

these two question are linked Question 3 (1 point) Saved If Sally decides to buy a car costing $ 16,500, and agrees to make 60 equal monthly payments of $ 328.28, what is the annual rate of interest...

Question 4 (1 point) If Sally had decided to borrow the $19,500 for the car in the previous question from her brother rather than the finance company, and would have to pay him 2.0 % interest...

Question 15 (1 point) You have arrived at home and found that a neighbour has shoveled all the snow in your driveway. You had not asked them to do it, but it looks great. You promise to pay them $20...

Oscar was declared insane and committed to a state mental hospital in 1948. In 1955, Oscar executed and delivered to Robert a deed for Cattle Acre which is a 200 acre parcel of land enclosed by...

Question 1 (1 point) Saved In the early 1920s, Ford promised its customers that they could have any colour car they wanted, "as long as it was black." Ford's management assumed anyone buying a car...

Fact Pattern I - (15 marks) Anderson owns a corner store in Kingston, Ontario. Now that corner stores have been allowed to sell beer and wine in Ontario, Anderson wants to promote his store's ability...

Question 1 (1 point) Arrears of taxes are found: by request from the province by asking the mortgagee by asking the owner none of the above Question 2 (1 point) A clause in a mortgage that states...

----B Let u = -3 and v = -9 Find two different vectors in span({u, v}) that are not multiples of u or v and show the weights on u and used to generate them. 2 -9 2 + 2 -9 u+ 4 2 4 v= v= Note: enter...

A solid sphere of radius R carries a uniform volume charge density . The sphere rotates about its diameter with angular velocity . Find the magnetic moment of this rotating sphere.

P19.8 (LO 2, 4, 5) Groupwork (Comprehensive 2-Year Worksheet) Lemke SA sponsors a defined benefit pension plan for its employees. The following data relate to the operation of the plan for the years...

On 1 March 2007 DB Limited issued R560 000 15% debentures at R98. The debentures were to be redeemed at par in four equal annual payments starting 28 February 2010. Required: Journalise the above...