What is the maximum price you can pay for the car

Assignment Help Finance Basics
Reference no: EM13282317

You want to buy a new car, but you can make an initial payment of only $2,000 and can afford monthly payment of at most $500.

a)If the APR on auto loans is 5% and you finance the purchase over 48 months, what is the maximum price you can pay for the car?

b) How much can you afford if you finance the purchase over 60 months?

 

Reference no: EM13282317

Questions Cloud

Calculate and interpret the profit variance : Calculate and interpret the profit variance and calculate and interpret the revenue variance - How are the variances calculated above related?
Where the new system is linear without any approximations : where x is a state variable and r is an input variable. Perform a change of variables in r, i.e., r (t) --> u (t),where the new system is linear without any approximations (hint: assume x (t) ismeasurable)
What effect would the sale of one more unit have : The depreciation is $59,000 a year and the tax rate is 35 percent. What effect would the sale of one more unit have on the operating cash flow?
Compute the direction of the second displacement : a man pushing a mop across a floor causes it to undergo two displacements. compute the direction of the second displacement
What is the maximum price you can pay for the car : You want to buy a new car, but you can make an initial payment of only $2,000 and can afford monthly payment of at most $500.
Write a logic expression for g by supposing a and b : Suppose A and B are 3-bit signed-magnitude numbers and A =(A2, A1, A0) and B = (B2, B1, B0). a) Write a logic expression for G, which is true when and only when A > B.  b) Write a logic expression for GE, which is true when and only when A ≥ B.
What is the break-even cost per kilowatt-hour : You require a return of 11 percent and use a light fixture 500 hours per year. What is the break-even cost per kilowatt-hour?
Find the velocity of the truck relative to the car : A car is driving directly north on the freeway at a speed of 117 km/h and a truck is leaving the freeway driving 76 km/h in a direction that is 40° west of north
What is his average velocity for the entire trip : To get to a concert in time, a harpsichordist has to drive 120 miles in 2.09 hours. What is his average velocity for the entire trip

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd