What is the monthly loan payment

Reference no: EM13275606

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 12%, with interest paid monthly. What is the monthly loan payment? Round your answer to the nearest cent.

Reference no: EM13275606

Questions Cloud

How much higher is the effective annual rate : She agrees to lend you the $1,000, but she wants you to pay her $10 of interest at the end of each of the first 11 months plus $1,010 at the end of the 12th month. How much higher is the effective annual rate under your friend's proposal than unde..

Estimate the speed of air-track glider after gun is fired : A light spring-gun projectile launcher is mounted on an .443 kg air track glider. find the speed of the air-track glider after the gun is fired

Compute the mass of nitrogen dissolved at room temperature : Calculate the mass of nitrogen dissolved at room temperature in an 76.0L home aquarium. Assume a total pressure of 1.0 atm and a mole fraction for nitrogen of 0.78

Determine the thevenin equivalent of the network : Determine the Thevenin equivalent of the network shown on the left and determine the current - determine the complex power generated by the (ideal) 400V source.

What is the monthly loan payment : 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 12%, with interest paid monthly. What is the monthly loan payment? Round your answer ..

Based on the competitive strategies : Based on the competitive strategies between Coke and Pepsi, why is there no clear winner?Although the brands are very differentiated, why are they so even, what's happening?

What is benkart break-even point in units : Benkart's Tire Store has fixed costs of $220,000. Tires sell for $95 each and have a unit variable cost of $45. What is Benkart's break-even point in units?

Determine the magnitude of the bird watchers displacement : A bird watcher meanders through the woods, walking 0.506 km due east, 0.736 km due south, Determine the magnitude (in kilometers) of the bird watcher's displacement

Explain a piece of silver is dropped in a container of water : A piece of silver is dropped in a container of water, write net ionic equation

User Account

All Pages