Only 4 Julio buys a kio fishpond landFish to put in it) for his wife ontheir anniversary. He pays #8000 forthe pond and the fish with $12000down. The dealer addsunterestof 3.5% per year, and Julio agrees.to pay the loan with 36e equalmonthly payments. Use the informationanswer the following questions:onto1. Find the total amount of intersthe willpay.2. Find the monthly payment.13. Find the APR value (to the nearest halfper4. Find (a) the unearned interest and b)off amount if he repays theloan in full with 12 months remainingthepayUse themostaccurate method availabl

As per the given information: Total amount = $8,000Down payment = $2,000Loan amount = $8,000 -$2,000…

Julio buys a kio fishpond land. Fish to put in it) for his wife on their anniversary. He pays $8000 for the pond and the fish with $12000 down. The dealer adds unterest of 3.5% per year, and Julio agrees. to pay the loan with 36e equal. monthly payments. Use the informates answer the following questions. on to 1. Find the total amount of interst he will pay. 2. Find the monthly payment.

Julio buys a kio fishpond land. Fish to put in it) for his wife on their anniversary. He pays $8000 for the pond and the fish with $12000 down. The dealer adds unterest of 3.5% per year, and Julio agrees. to pay the loan with 36e equal. monthly payments. Use the informates answer the following questions. on to 1. Find the total amount of interst he will pay. 2. Find the monthly payment.

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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Julio buys a koi fishpond (and fish to put in it for his wife on their anniversary. He pays $8000 for the pond and fish with $2000 down. The dealer charges add-on interest of 3.5% per year, and Julio agrees to pay the loan with 36 equal monthly payments. Use this information to answer the following questions: 1) Find the total amount of interest he will pay. 2) Find the monthly payment. 3) Find the APR value (to the nearest half percent). 4) Find (a) the unearned interest and (b) the payoff amount if he repays the loan in full with 12 months remaining. Use the most accurate method available.
Julio buys a koi fishpond (and fish to put in it) for his wife on their anniversary. He pays $8000 for thepond and fish with $2000 down. The dealer charges add-on interest of 3.5% per year, and Julio agrees topay the loan with 36 equal monthly payments. Use this information to answer the following questions:1) Find the total amount of interest he will pay.2) Find the monthly payment.3) Find the APR value (to the nearest half percent).4) Find (a) the unearned interest and (b) the payoff amount if he repays the loan in full with 12 monthsremaining. Use the most accurate method available.
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Julio buys a koi fish pond (and fish to put in it) for his wife on their anniversary. He pays $8,000 for the pond with $2,000 down. The dealer charges add-on-interest of 3.5% per year, and Julio agrees to pay the loan with 36 equal monthly payments. Use this information for Exercise 7-10. 7. Find the total amount of interest she will pay. 8. Find the monthly payment. 9. Find the APR value (to the nearest half percent)
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