Amount of loan for your car once you subtract down payment

Assignment Help Financial Management

Reference no: EM131049248

Dream car toyota camry costs $27500, dream job political/community organizer makes $72,000 per year

a) What is 10% of your dream car's value (this is the down payment for your car) and what is 5% of your monthly income?

b) How long will it take you sve for your down payment using 5% of your monthly income in a money market that earns an average of 1.5% interest?

c) What is the amount of the loan for your car once you subtract the down payment?

d) What is the payment for your car for the 60 month car loan when you make the down payment, where the interest rate is 3.3% and what is the payment for your dream car for the 72 month car loan when you make the down payment, where the interest rate is 3.3%?

e) How much will you pay overall for your dream car for the 60 month loan and how much will you pay overall for your dream car for the 72 month loan?

Reference no: EM131049248

Questions Cloud

Volatility to continue for a few weeks based on recent news : The market price of ZYX stock has been volatile and you expect that volatility to continue for a few weeks based on recent news. Due to this belief you decide to purchase calls and puts to manage your exposure. What will be your total profit or loss ..

Developing an estate plan : Mike and Marie Cranston have come to you for assistance in developing an estate plan. From your initial meeting with them, you have gathered the following information

Estimate the firm''s current stock price to be : Laurel Enterprises expects earnings next year of $3.55 per share and has a 40% retention rate, which is plans to keep constant. Its equity cost of capital is 9%, which is also its expected return on new investment. Its earnings are expected to grow f..

Critical thinking legal question : Critical Thinking Legal Question In cases involving third parties who have suffered losses in reliance on negligent misrepresentations in accountants' financial reports, the courts apply different standards to assess liability.

Amount of loan for your car once you subtract down payment : Dream car toyota camry costs $27500, dream job political/community organizer makes $72,000 per year. What is 10% of your dream car's value (this is the down payment for your car) and what is 5% of your monthly income? What is the amount of the loan f..

Appeal to the internal revenue service : Professional Malpractice. Jeffery Guerrero hired James McDonald, a certified public accountant, to represent him and his business in an appeal to the Internal Revenue Service.

What is the current price of its stock : CX Enterprises has the following expected dividends: $1.08 in one year, $1.17 in two years, and $1.32 in three years. After that, its dividends are expected to grow at 4.5% per year forever (so that year 4's dividend will be 4.5% more than $1.32 and ..

What is the NAL of the lease : Big Sky Mining Company must install $1.5 million of new machinery in its Nevada mine. It can obtain a bank loan for 100% of the purchase price or it can lease the machinery. Assume that the following facts apply: Under either the lease or the purchas..

Managerial economics-a problem solving approach : Spend 2 or 3 hours observing the organization in which you are employed. During the observation, identify internal and external interactions of the organization. You can talk to stakeholders who might have information relating to external interact..

User Account

All Pages