Question

In: Finance

Jacinda Herschel wants to buy a car and determines she can afford to pay $173.63 a...

Jacinda Herschel wants to buy a car and determines she can afford to pay $173.63 a month for a 4 year loan. The rate on such a loan is 0.0377. How much money can Jacinda borrow?

Solutions

Expert Solution


Related Solutions

Jacinda Herschel wants to buy a car and determines she can afford to pay $403.62 a...
Jacinda Herschel wants to buy a car and determines she can afford to pay $403.62 a month for a 3 year loan. The rate on such a loan is 0.0321. How much money can Jacinda borrow?
Jacinda Herschel wants to buy a car and determines she can afford to pay $367.47 a month for a 3 year loan.
InstructionsComplete the following problems using either a financial calculator or a spreadsheet program. Do not use interim rounding, state your answers as positive values, to two decimal places for dollar or period values and four places for percentages stated as decimals; do not label answers with symbols such as $ or %. For example, 10.5% should be input as .1050.1. Jacinda Herschel wants to buy a car and determines she can afford to pay $367.47 a month for a 3...
Sally wants to buy a car but is unsure how much of . she can afford....
Sally wants to buy a car but is unsure how much of . she can afford. The maximum monthly payment she can afford is $780.. Her bank’s interest rate is 14%. annually if she pays off the loan over 5 years. What is the maximum amount she can afford to borrow?    Impossible to calculate given the available data She can afford $53, 352.05 She can afford $46,800.03 D-She can afford $33,522,07    Someone said all options are wrong, can you...
Mary wants to buy a car but is unsure how much of she can afford. The...
Mary wants to buy a car but is unsure how much of she can afford. The maximum monthly payment she can afford is $780. Her bank's interest rate is 14% annualy if she pays off loan over 5 years. what is the maximum amount she can afford to borrow? - impossible to calculate with given data - she can afford $53,325.05 -she can afford $46,800.03 -she can afford $33,522.07 (show all excel work)
You plan to buy ahouse and you can afford to pay a monthly mortgage of...
You plan to buy a house and you can afford to pay a monthly mortgage of $801 over 30 years. The bank has offered you a 3.34% interest rate, compounded monthly.How much you can afford to borrow for the house?Please round your answer to the second decimal without a dollar sign. E.g. 1234.56
Kimberly is looking to buy a home in California. The most he can afford to pay...
Kimberly is looking to buy a home in California. The most he can afford to pay in total is $2,000 per month. Yearly property taxes will be about $3,600 (escrowed monthly) and insurance is $120 per month. There are no other costs. If his parents give him $20,000 for a down payment, what is the most he can pay for a house with a 15-year mortgage if the interest rate is 5.60 percent?
Todd is able to pay $220 a month for five years for a car. If the interest rate is 3.9 percent, how much can Todd afford to borrow to buy a car?
Todd is able to pay $220 a month for five years for a car. If the interest rate is 3.9 percent, how much can Todd afford to borrow to buy a car?a $5,072.93b. $8,499.13c. $11,975.12d. $12,211.34e. $982.16
(1 point) Suzie wants to buy a car for $6750. If she pays cash she receives...
(1 point) Suzie wants to buy a car for $6750. If she pays cash she receives a 8.5% cash discount. To get the cash she signs a 120-day non-interest bearing note. If the bank discounts notes at an interest rate of 6% what face value is needed on the note for Suzie to receive the cash she needs to buy the car?
Megan is considering the purchase of a new car. She wants to buy the new Audi...
Megan is considering the purchase of a new car. She wants to buy the new Audi A1, which will cost her R347 500. She will finance 90% of the purchase price at an interest rate of 8% per annum, with monthly payments over three years. Interest is compounded monthly. How much money will she still owe on the loan at the end of one year
CONTRACT LAW Mary wants to buy a car; she goes to her local used car dealership...
CONTRACT LAW Mary wants to buy a car; she goes to her local used car dealership and is very interested in a used 2016 VW Eos. She asks the car salesman if the car has ever been in an accident. The car salesman doesn't know whether the car has been in an accident, but assures Mary that it has never been. If the car has in fact been in an accident and Mary buys the car, the salesman's statements may...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT