Solve.Calculate the monthly payment for a loan of $11,000 at a fixed APR of 7% over a period of 4 years.
A. $16.04
B. $64.17
C. $263.41
D. $309.13
Answer: C
You might also like to view...
On July 7, 2014, Lawrence Company sold some machinery to Johnson Construction Company. The sales contract requires Johnson to pay five equal annual payments of $75,000 each, beginning on July 7, 2014. What present value concept is most appropriate for this situation?
A. present value of an annuity due of $1 for five periods B. present value of an ordinary annuity of $1 for five periods C. future value of an annuity of $1 for five periods D. future value of $1 for five periods
Charlie's Construction Co. acquired a new $800,000 backhoe on April 1, 2014. Charlie's will make six annual payments based upon 8% interest compounded annually, starting on March 31, 2015. How much will each payment be?
A. $504,136 B. $173,052 C. $160,234 D. $109,052
Solve the problem.You need a $193,854 loan. Compute the monthly payment for each of the loan options listed below. Assume that the loans are fixed rate.Option 1: a 30 year-loan at an APR of 7.25%Option 2: a 15-year loan at 6.8%
A. Option 1: $1350.77 Option 2: $1798.47 B. Option 1: $1344.65 Option 2: $1779.41 C. Option 1: $1322.43 Option 2: $1720.81 D. Option 1: $1303.33 Option 2: $1668.87
Complete the identity.
- 
= ?
A. -2 tan2 ? B. sin ? tan ? C. sec ? csc ? D. 1 + cot ?