Total amount of interest paid over the term of loan

Assignment Help Business Management

Reference no: EM133629938

Question

Suppose you purchase a car for a total price of $37,165, including taxes and license fee, and finance that amount for 7 years at an annual interest rate of 6%. (Round your answers to the nearest cent.)

a. Find the monthly payment. $

b. What is the total amount of interest paid over the term of the loan? $

Reference no: EM133629938

Questions Cloud

Bond valuation relationships : Calculate the value of the bond. How does the value change if the market's required yield to maturity on a comparable-risk bond

Fazekas companies is preparing to pay annual dividends : Fazekas Companies is preparing to pay annual dividends of $1.48, $1.60, and $1.75 per share over the next three years, respectively.

Determine accumulated amount in student annuity : Determine the accumulated amount in the? student's annuity after 40 years.

Resulting percentage change in earnings per share : What will be the resulting percentage change in earnings per share if they expect units produced and sold to change 0.9 percent?

Total amount of interest paid over the term of loan : What is the total amount of interest paid over the term of the loan?

Calculate annual rate of return : Retrieve the data on the companies' historical data and calculate annual rate of return for the past 20 years for each security.

Margin and capital commitments to trade : What is the primary risk faced by a trader or investor in this strategy with respect to their ability to fund their margin and capital commitments to the trade?

Calculate the cost of equity using the SML method : Ginger Industries stock has a beta of 1.30. Calculate the cost of equity using the DGM method. Calculate the cost of equity using the SML method.

Overall assessment of buffetts method : What is your overall assessment of Buffett's method of analyzing financial statements? Do you think it is useful?

User Account

All Pages