Derek borrows $294,313.00 to buy a house. He has a 30-year mortgage with a rate of...

Derek borrows $294,313.00 to buy a house. He has a 30-year mortgage with a rate of 5.87%. After making 126.00 payments, how much does he owe on the mortgage?

Derek borrows $42,453.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 6.33%. What will the payments be?

Derek borrows $33,200.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 6.35%. After a 14.00 months Derek decides to pay off his car loan. How much must he give the bank?

Expert Solution

Derek borrows $294,313.00 to buy a house. He has a 30-year mortgage with a rate of 5.87%. After making 126.00 payments, how much does he owe on the mortgage?

$242160.94

Derek borrows $42,453.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 6.33%. What will the payments be?

$710.20

Derek borrows $33,200.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 6.35%. After a 14.00 months Derek decides to pay off his car loan. How much must he give the bank?

$27692.53

Please comment if you face any difficulty and please dont forget to upvote

jeff jeffy answered 1 year ago

Derek borrows $327,651.00 to buy a house. He has a 30-year mortgage with a rate of...

Derek borrows $327,651.00 to buy a house. He has a 30-year mortgage with a rate of 5.94%. After making 134.00 payments, how much does he owe on the mortgage?

Derek borrows $290,341.00 to buy a house. He has a 30 year mortgage with a rate...

Derek borrows $290,341.00 to buy a house. He has a 30 year mortgage with a rate of 4.09%. After making 86 payments, how much does he owe on the mortgage?

Derek borrows $290,132.00 to buy a house. He has a 30-year mortgage with a rate of...

Derek borrows $290,132.00 to buy a house. He has a 30-year mortgage with a rate of 5.93%. After making 138.00 payments, how much does he owe on the mortgage? Answer format: Currency: Round to: 2 decimal places. Assume a bank offers an effective annual rate of 6.14%. If compounding is monthly what is the APR? Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434)) A...

Derek borrows $299,744.00 to buy a house. He has a 30-year mortgage with a rate of...

Derek borrows $299,744.00 to buy a house. He has a 30-year mortgage with a rate of 5.62%. After making 81.00 payments, how much does he owe on the mortgage? Answer format: Currency: Round to: 2 decimal places.

Derek borrows $256,452.00 to buy a house. He has a 30-year mortgage with a rate of...

Derek borrows $256,452.00 to buy a house. He has a 30-year mortgage with a rate of 4.58%. The monthly mortgage payment is $________. Derek borrows $283,432.00 to buy a house. He has a 30-year mortgage with a rate of 4.68%. After making 87.00 payments, how much does he owe on the mortgage? A bank offers 6.00% on savings accounts. What is the effective annual rate if interest is compounded quarterly?

Derek borrows $314,250.00 to buy a house. He has a 30-year mortgage with a rate of...

Derek borrows $314,250.00 to buy a house. He has a 30-year mortgage with a rate of 5.21%. After making 83.00 payments, how much does he owe on the mortgage? (rounded to 2 decimal places)

Derek borrows $276,041.00 to buy a house. He has a 30-year mortgage with a rate of...

Derek borrows $276,041.00 to buy a house. He has a 30-year mortgage with a rate of 4.03%. The monthly mortgage payment is $________. Answer format: Currency: Round to: 2 decimal places. Suppose you deposit $1,104.00 into an account 6.00 years from today. Exactly 14.00 years from today the account is worth $1,476.00. What was the account's interest rate? Answer format: Percentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places...

Derek borrows $343,539.00 to buy a house. He has a 30-year mortgage with a rate of...

Derek borrows $343,539.00 to buy a house. He has a 30-year mortgage with a rate of 5.68%. After making 107.00 payments, how much does he owe on the mortgage?

Derek borrows $310,516.00 to buy a house. He has a 30-year mortgage with a rate of...

Derek borrows $310,516.00 to buy a house. He has a 30-year mortgage with a rate of 4.82%. After making 90.00 payments, how much does he owe on the mortgage?

1. Derek borrows $263,106.00 to buy a house. He has a 30-year mortgage with a rate...

1. Derek borrows $263,106.00 to buy a house. He has a 30-year mortgage with a rate of 4.65%. After making 113.00 payments, how much does he owe on the mortgage? 2. Derek borrows $36,439.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 5.76%. What will the payments be?

Question