You want to buy a car, and a local bank will lend you $10,000. The loan would be fully amortized over 4 years (48 months), and the nominal interest rate would be 9%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You want to buy a car, and a local bank will lend you $10,000. The loan would be fully amortized over 4 years (48 months), and the nominal ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
For 2018, Thomas, a single parent, reported the following amounts relating to his investments: Net investment income $ 7,000 Interest expense on a loan to purchase stocks 2,000 Interest expense on funds borrowed to purchase land for investment 6,000
Answers (1)
Royal Teas, a U. K.-based company employing just 30 people worldwide, generates $1.5 million in revenues of which 60 percent comes from exports to Asian countries. In this context, Royal Teas is most likely classified as a A. large domestic firm. B.
Answers (1)
Oranges cost Chris $2 per pound, and she has $10.00 that she could possibly spend on oranges or other items. If she feels that the first pound of oranges is worth $2.50, the second pound is worth $2.25, the third pound is worth $1.
Answers (1)
During Year 3, Manfred Corp. guaranteed a supplier's $500,000 loan from a bank. On October 1, Year 4, Manfred was notified that the supplier had defaulted on the loan and filed for bankruptcy protection.
Answers (1)
Harry regularly shipped 100 cartons of electronic goods to Keith on the 15th of every month as per the original agreement. He had been continuing this shipment routine for over a year.
Answers (1)
New Questions in Business
True/False: the two most common means of acquisition are the entrepreneur's direct purchase of the firm's entire stock or assets or the bootstrap purchase of these assets.
Answers (1)
A specific territory or zone that has laws and regulations different from the rest of the country is called a (n) A. work zone. B. border zone. C. tax-free zone. D. economic zone.
Answers (2)
Bruce is a salaried nonexempt employee who earns $42,500 annually, paid semimonthly, plus a 0.25% commission on all regional sales, paid monthly on the first pay date of the following month. During the month of May, the regional sales were $103,500.
Answers (1)
What type of insurance is commonly known as "income insurance"?
Answers (1)
The person to contact to arrange a home purchase loan is the: A. title officer B. realtor C. mortgage broker D. attorney
Answers (1)