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In: Finance
You receive a $35,000 car LEASE at 6% nominal annual for 60 months. Interest is compounded...
You receive a $35,000 car LEASE at 6% nominal annual for 60 months. Interest is compounded daily and you make monthly payments. Your Residual value at the end of your lease is $15,000. Assume LEASE payments are made at the BEGINNING of the month, (first payment due immediately). What is your monthly LEASE payment?
Solutions
jeff jeffy answered 2 years agoRelated Solutions
You receive a $35,000 car LEASE at 6% nominal annual for 60 months. Interest is compounded...
You receive a $35,000 car LEASE at 6% nominal annual for 60
months. Interest is compounded daily and you make monthly payments.
Your Residual value at the end of your lease is $15,000. Assume
LEASE payments are made at the BEGINNING of the month, (first
payment due immediately). What is your monthly LEASE payment?
Please show work so I can compare my answer, I got an answer of
434.2 as of a first time. Thanks
You receive a $35,000 car loan at 6% nominal annual for 60 months. Interest is compounded...
You receive a $35,000 car loan at 6% nominal annual for 60
months. Interest is compounded daily and you make monthly payments.
How much PRINCIPLE do you pay on your 12th payment?
You receive a $25,000 car LEASE at 6% nominal annual for 3 years. Interest is compounded...
You receive a $25,000 car LEASE at 6% nominal annual for 3
years. Interest is compounded monthly and you make monthly
payments. Your Residual value at the end of your lease is $15,000.
Assume LEASE payments are made at the END of the month, (first
payment due end of first month). You can also get a LOAN for the
same terms (although you will pay off the entire car in 3
years).
Assume your MARR for investment is 4% annual...
You receive a $25,000 car LEASE at 6% nominal annual for 3 years. Interest is compounded...
You receive a $25,000 car LEASE at 6% nominal annual for 3
years. Interest is compounded monthly and you make monthly
payments. Your Residual value at the end of your lease is $15,000.
Assume LEASE payments are made at the END of the month, (first
payment due end of first month). You can also get a LOAN for the
same terms (although you will pay off the entire car in 3
years).
Assume your MARR for investment is 4% annual...
Amortize a $35,000 car loan with a 5% annual interest rate and payments for 60 months...
Amortize a $35,000 car loan with a 5% annual interest rate and
payments for 60 months (4) What is the monthly payment? (5) What
will the balance on the loan be after 2 years of payments? (Assume
that you just took out the loan) (6) How many months will it be
before the car is halfway paid off?
You are financing a new car with a three-year loan at 10.5% annual nominal interest, compounded...
You are financing a new car with a three-year loan at 10.5%
annual nominal interest, compounded monthly. The price of the car
is $14,500. Your down payment is $1,500. What are your monthly
payments at 10.5%? (Assume your payments start one month after the
purchase, or at the end of the first period.)
If you take out a car loan for $35,000, will pay an annual interest rate of...
If you take out a car loan for $35,000, will pay an annual
interest rate of 4% on the loan, and make monthly payments of
$547.58, how many payments will you need to make? -What are you
solving for? -What is your answer?
A loan of 11000 is made with interest at a nominal annual rate of 12% compounded...
A loan of 11000 is made with interest at a nominal annual rate
of 12% compounded monthly. The loan is to be repaid by 36 monthly
payments of 367.21 over 37 months, starting one month after the
loan is made, there being a payment at the end of every month but
one. At the end of which month is the missing payment?
For your reference, the answer is at the 17th month.
You want to buy a car, and a local bank will lend you $25,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 4% with interest paid monthly.
LOAN AMORTIZATION AND EARYou want to buy a car, and a local bank will lend you $25,000.
The loan will be fully amortized over 5 years (60 months), and the
nominal interest rate will be 4% with interest paid monthly.What will be the monthly loan payment? Do not round intermediate
steps. Round your answer to the nearest cent.$ What will be the loan's EAR? Do not round intermediate steps.
Round your answer to two decimal places.%
Compute the nominal annual rate of interest (compounded monthly) at which $250.00 deposited at the end...
Compute the nominal annual rate of interest (compounded monthly)
at which $250.00 deposited at the end of each month for ten years
will amount to $30 000.00.
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