Business, 18.07.2020 19:01 briannabridgewater01
Turner buys a new car and finances it with a loan of 22,000. He will make n monthly payments of 450.30 starting in one month. He will make one larger payment in n + 1 months to pay off the loan. Payments are calculated using an annual nominal interest rate of 8.4%, convertible monthly. Immediately after the 18th payment he refinances the loan to pay off the remaining balance with 24 monthly payments starting one month later. This refinanced loan uses an annual nominal interest rate of 4.8%, convertible monthly. Calculate the amount of the new monthly payment.
a) 668
b) 693
c) 702
d) 715
e) 742
Answers: 2
Another question on Business
Business, 22.06.2019 03:20
Look at this check register. calculate the current balance. check date transaction (+) deposit balance 5/1 5/3 $82.92 debit 8.00 78.24 005 monthly fee phone bill paycheck 1 125.00 5/15 5/17 5/20 atm 40.00 56.50 006 t ennis lessons the current balance is?
Answers: 1
Business, 22.06.2019 04:10
What is the difference between secure bonds and naked bonds?
Answers: 1
Business, 22.06.2019 13:30
If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?
Answers: 2
Business, 22.06.2019 13:50
Diamond motor car company produces some of the most luxurious and expensive cars in the world. typically, only a single dealership is authorized to sell its cars in certain major cities. in less populous areas, diamond authorizes a single dealer for an entire state or region. the manufacturer of diamond automobiles is using a(n) distribution strategy for its product.
Answers: 2
You know the right answer?
Turner buys a new car and finances it with a loan of 22,000. He will make n monthly payments of 450....
Questions
Computers and Technology, 13.07.2019 18:30
Social Studies, 13.07.2019 18:30
Mathematics, 13.07.2019 18:30
Advanced Placement (AP), 13.07.2019 18:30
