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1.You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly payment plan at 18%. How much monthly installment will be offered by bank?
2.Suppose you are accepting bank offer as given in Q No.43 but want to amortize whole loan in five years. What monthly installment will be offered by bank?
Step by step
Solved in 2 steps
- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.
- 1. You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly payment plan at 18%. How much monthly installment will be offered by bank? 2.Suppose you are accepting bank offer as given in Q No.1 but want to amortize whole loan in five years. What monthly installment will be offered by bank?Suppose that you obtain a 100.000 TL loan from a bank. The maturity is 10 years and the annual interest rate is 10%. You will pay monthly installments. However, according to the loan agreement you will make no payments for the first three years. What would be the monthly payment amount? 830,06 TL 660,75 TL O 1.104,81 TL 879,46 TL O Diğer: What would be the annual interest rate for a 5.000.000 TL bank loan that requires 125.000 TL of total interest payment for a period of 4 months? O 7% 7,5% 8% 8,5% O Diğer:a.You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly payment plan at 18%. How much monthly installment will be offered by bank? b.Suppose you are planning to take this car through bank loan but you already have saving of Rs.150,000 which you paid to bank as down payment and rest you are agree on monthly installment at 18%. Compute monthly payment? Q no.1) a and b assuming bank is following annuity due condition.
- 43. You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly payment plan at 18%. How much monthly installment will be offered by bank? 44. Suppose you are accepting bank offer as given in Q No.43 but want to amortize whole loan in five years. What monthly installment will be offered by bank? 45. Suppose you are planning to accept bank offer as given in Q No.43 but instead of monthly payment plan, you are interested in quarterly installment. Compute the amount you will pay after each quarter. 46. Suppose you are planning to take this car through bank loan but you already have saving of Rs.150,000 which you paid to bank as down payment and rest you are agree on monthly installment at 18%. Compute monthly payment. 47. Repeat Q No.43 to Q No.46 assuming bank is following annuity due condition.You are planning to take a car, its cash price is Rs.800,000. Bank is offering seven year monthly payment plan at 18%. How much monthly installment will be offered by bank?assuming bank is following annuity due condition.1. You want to buy a car, and a local bank will lend you $15,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 8% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places 2. What is the present value of a $400 perpetuity if the interest rate is 8%? If interest rates doubled to 16%, what would its present value be? Round your answers to the nearest cent. 3. You borrow $90,000; the annual loan payments are $12,852.25 for 30 years. What interest rate are you being charged? Round your answer to the nearest whole number.
- Do you want to By A home for $330,000. You plan to pay 33,000 as a down payment and take out a 15 year loan at 3.5% interest for the rest. What is the amount of the payment? If the bank charges 1.5 points on the loan what is the amount charge for points? If the bank charges 1.5 points on the loan what is the true interest rate?< A friend asks to borrow $51 from you and in return will pay you $54 in one year. If your bank is offering a 6.2% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $51 instead? b. How much money could you borrow today if you pay the bank $54 in one year? c. Should you loan the money to your friend or deposit it in the bank?You want to buy a car, and a local bank will lend you $20,000. The loan would be fully amortized over 6 years (72 months), and the nominal interest rate would be 6%, with interest paid monthly. 1-What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent.
