You get an auto loan at 3.5% interest for 5 years; please answer the following. You purchase

Fantastic news! We've Found the answer you've been seeking!

Question:

You get an auto loan at 3.5% interest for 5 years; please answer the following.

You purchase a car for $8000 with a $2000 down payment, what are your monthly payments?

Related Book For answer-question

Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

See More Books

Posted Date: Jun 23, 2023 01:14 AM

See More Questions

KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
Poe Company thought its common stock was undervalued in 2024. Poe originally issued 50 million shares of its $1 par common stock for $18 / share several years ago. Although its Board of Directors was...
You have decided to purchase a new car!! You and the salesman have agreed on a price of $40,000. They have agreed to give you $5,000 for your current car as a trade-in. You have saved an additional...
Why must we recognize and address challenges caused by diversity and work to implement a more inclusive healthcare workforce?
The wire shown in Fig is infinitely long and carries a current L Calculate the magnitude and direction of the magnetic field that this current produces at point P. P. ->
In a meeting of mimes, mime 1 goes through a displacement d1 = (4.0 m)i + (5.0 m)j and mime 2 goes through a displacement d2 = ( 3.0 m)i + (4.0 m)i. What are? (a) d1 x d2 (b) d1 d2 (c) (d1 + d2) and...
.Which of the following is false regarding the Sarbanes-Oxley act? a. It requires that external auditors report to the company president. b. It applies to publicly traded companies. C. It requires...
The percentage of Americans who have confidence in U.S. banks dropped to 23% in June 2010, which is far below the pre-recession level of 41% reported in June 2007 (gallup.com). a. What is the...
Evaluate e3x Se dr dx ex dx dr
Determine why Mr. Holcombs actions violate the AICPA Code of Professional Conduct, Treasury Department Circular No. 230, and the Internal Revenue Code. HoustonHolcomb CPAs (the firm") has prepared...
A Global Positioning System (GPS) receiver is a device that lets you figure out where you are by receiving timed radio signals from satellites. It works by measuring the travel time for the signals,...
Blossom Inc. sells tickets for a Caribbean cruise on ShipAway Cruise Lines to Sandhill Company employees. The total cruise package price to Sandhill Company employees is $69,000. Blossom Inc....
ABC Company s budgeted sales for June, July, and August are 1 4 , 0 0 0 , 1 8 , 0 0 0 , and 1 6 , 0 0 0 units respectively. The selling price for each unit is $ 1 4 . Based on past experience, ABC...
Scenario 1 A long-established caf located in inner west Brisbane residential suburb is facing it's time to figure out their budget for the coming quarter. During the last quarter, the caf had spent...
The tallest mountain in the United States is Denali (formerlyknown as Mt. McKinley) in Alaska, with a summit elevation of 6190m. Atmospheric pressure at the top is 606 mmHg. Assuming that...
Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely determined by his division's return on investment (ROI), which has been above 22% each of the last three...
Hotel worker Danny Ruiz was living with his wife and four children in a cramped New York apartment when he saw a television ad promising the family a way out. "Why rent when you can own your own...
Stephen Schor, an accountant in New York City, advised his client, Andre Romanelli, Inc., to open an account at J. P. Morgan Chase Bank, N.A., to obtain a favorable interest rate on a line of credit....
1. Congress reduced taxes on middle- and low-income taxpayers with the expectation that they will spend most of that money and help create more economic growth. Was this idea good or not, and why? 2....
(a) Summarize Jia Lis legal rights in this situation. (b) Discuss the likelihood that Jia Li must pay Visa for any illegal charges to the account. Jia Li Sun, took her sister-in-law Ah-Iam Johnson...
1. What is probate, and give three examples of how people should transfer assets by contract to avoid probate. 2. Distinguish between probate and nonprobate property. 3. What topics go into a...
Refer to Exercise 5. Four of the eight students are from Middle Georgia State University. What is the probability that all three of the interviewed students are from Middle Georgia State University?
The law of large numbers states that as a probability experiment is repeated, the proportion of times that a given outcome occurs will approach its probability. In Exercises 912, determine whether...
The following table presents numbers of U.S. workers, in thousands, categorized by type of occupation and educational level. a. What is the probability that a randomly selected worker is a college...

You get an auto loan at 3.5% interest for 5 years; please answer the following. You purchase

Question:

Expert Answer:

To calculate the monthly payments on an auto loan we need to consider the l... View the full answer

Personal Finance

Students also viewed these finance questions