Business
Business, 10.10.2019 17:30, Clerry

After visiting several automobile dealerships, richard selects the car he wants. he likes its $11,500 price, but financing through the dealer is no bargain. he has $2,300 cash for a down payment, so he needs a loan of $9,200. in shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. that is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. richard borrows $9,200 for a period of two years at an add-on interest rate of 10 percent.

a. what is the total interest on richard's loan?
b. what is the total cost of the car?
c. what is the monthly payment?
d. what is the annual percentage rate (apr)?

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Business, 07.10.2019 23:00, miyah916
When interest rates are low, some automobile dealers offer loans at 0% apr, as indicated in a 2016 advertisement by a prominent car dealership, offering zero percent financing or cash back deals on some models. zero percent financing means the obvious thing—that no interest is being charged on the loan. so if we borrow $1,200 at 0% interest and pay it off over 12 months, our monthly payment will be $1,200/12 = $100. suppose you are buying a new truck at a price of $25,000. you plan to finance your purchase with a loan you will repay over two years. the dealer offers two options: either dealer financing with 0% interest, or a $2,500 rebate on the purchase price. if you take the rebate, you will have to go to the local bank for a loan (of $22,500) at an apr of 6.5%. what would your monthly payment be if you used dealer financing?
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Business, 09.10.2019 20:00, scholar345
After visiting several automobile dealerships, richard selects the car he wants. he likes its $11,500 price, but financing through the dealer is no bargain. he has $2,300 cash for a down payment, so he needs a loan of $9,200. in shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. that is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. richard borrowed $9,200 for a period of two years at an add-on interest rate of 10 percent. a. what is the total interest on richard’s loan
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Business, 28.10.2019 20:31, jerenasmith8
When interest rates are low, some automobile dealers offer loans at 0% apr, as indicated in a 2016 advertisement by a prominent car dealership, offering zero percent financing or cash back deals on some models. zero percent financing means the obvious thing—that no interest is being charged on the loan. so if we borrow $1,200 at 0% interest and pay it off over 12 months, our monthly payment will be $1,200/12 = $100. suppose you are buying a new truck at a price of $25,000. you plan to finance your purchase with a loan you will repay over two years. the dealer offers two options: either dealer financing with 0% interest, or a $2,500 rebate on the purchase price. if you take the rebate, you will have to go to the local bank for a loan (of $22,500) at an apr of 6.5%. what would your monthly payment be if you used dealer financing?
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Предмет
Business, 29.10.2019 04:31, person6764
After visiting several automobile dealerships, richard selects the car he wants. he likes its $11,500 price, but financing through the dealer is no bargain. he has $2,300 cash for a down payment, so he needs a loan of $9,200. in shopping at several banks for an installment loan, he learns that interest on most automobile loans is quoted at add-on rates. that is, during the life of the loan, interest is paid on the full amount borrowed even though a portion of the principal has been paid back. richard borrows $9,200 for a period of two years at an add-on interest rate of 10 percent. a. what is the total interest on richard's loan? b.what is the total cost of the car? c. what is the monthly payment? d. what is the annual percentage rate (apr)?
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