You can afford a $450 per month car payment. You've found a 3 year loan at...

You can afford a $450 per month car payment. You've found a 3 year loan at 2% interest. How big of a loan can you afford?

Solutions

Expert Solution

jeff jeffy answered 1 year ago

Next > < Previous

Related Solutions

You can afford a $950 per month mortgage payment. You've found a 30 year loan at...

You can afford a $950 per month mortgage payment. You've found a 30 year loan at 6% interest. a) How big of a loan can you afford? $ b) How much total money will you pay the loan company? $ c) How much of that money is interest? $

You can afford a $850 per month mortgage payment. You've found a 30 year loan at...

You can afford a $850 per month mortgage payment. You've found a 30 year loan at 7% interest. a) How big of a loan can you afford? $ b) How much total money will you pay the loan company? $ c) How much of that money is interest? $

You can afford a $1250 per month mortgage payment. You've found a 30 year loan at...

You can afford a $1250 per month mortgage payment. You've found a 30 year loan at 6% interest. a) How big of a loan can you afford? $ b) How much total money will you pay the loan company? $ c) How much of that money is interest?

you can afford a 1200 per month mortgage payment you found a 30 year loan at...

you can afford a 1200 per month mortgage payment you found a 30 year loan at 6% interest a) how big of a loan can you afford? b) how much total money will be paid to the loan company? c) how much of that money is interest?

you can afford a 1400$ per month mortage payment. youve found a 30 year loan at...

you can afford a 1400$ per month mortage payment. youve found a 30 year loan at a 6% interest. you can afford a 1400 per month mortage payment. you found a 30 year loan at 6% interest. a) how big of a loan can you afford? b) how much total money will you pay the loan company? c) how much of that money is interest?

you can afford a 1350$ per month mortage payment. youve found a 30 year loan at...

you can afford a 1350$ per month mortage payment. youve found a 30 year loan at 7% interest. a)!how big of a loan can you afford b) how much total money will you pay the loan company c)how much of that money is interest?

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...

You want to purchase a new car, but can only afford a payment of $1,800 per...

You want to purchase a new car, but can only afford a payment of $1,800 per month. If the dealer tells you that they have financing available at an APR of 5% for a 48-month loan, how much can you afford to borrow for your new car (given the $1,800 payment)?

saved $3000 for a down payment on a car. the largest monthly payment you can afford...

saved $3000 for a down payment on a car. the largest monthly payment you can afford is $400. The loan will be at 8%APR based on end of month payments. a) What is the most expensive car you can afford if you finance for 48 months? b) What is the most expensive car financing 60 months?

Jacob can only afford a payment of $500 per month for the new boat he plans...

Jacob can only afford a payment of $500 per month for the new boat he plans to purchase for himself. He qualifies for a 5-year loan with 1.75% APR. What is the maximum purchase price he can afford?

Subjects