Mathematics, 27.06.2019 09:50, 4804341040

Compute interest rate for the following credit transaction. round to the nearest tenth. amount of loan = $850 monthly payment amount = $42.50 duration of loan = 24 months true annual interest rate =

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Business, 24.06.2019 22:40, mrsrobinson1014

Kim wants to buy a car. kim compute the monthly payment on a loan, given the loan amount, the annual percentage rate of interest, and the number of monthly payments. the program should allow kim to input the loan amount, interest rate, and how many payments she wants to make. it should then compute and display the monthly payment.

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Business, 09.07.2019 23:10, jayyd679

Assume you obtain a $12,000 loan (without credit life insurance). it is a four-year simple-ineterest installment loan with an annual interest rate of 12.50 percent. first, what would be the monthly payment? second, how much total interest will you pay over the four years? third, what is the apr on this loan? $319 is your monthly payment; $3,310 is the total amount of interest you will pay over the four years; $12.5% is the apr. $332 is your monthly payment; $3,936 is the total amount of interest you will pay over the four years; $12.5% is the apr. $332 is your monthly payment; $3,936 is the total amount of interest you will pay over the four years; $12.0% is the apr. $319 is your monthly payment; $3,310 is the total amount of interest you will pay over the four years; $12.0% is the apr.

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Computers and Technology, 06.10.2019 04:00, AceGravity

When you borrow money to buy a house, a car, or for some other purpose, you repay the loan by making periodic payments over a certain period of time. of course, the lending company will charge interest on the loan. every periodic payment consists of the interest on the loan and the payment toward the principal amount. to be specific, suppose that you borrow $1000 at the interest rate of 7.2% per year and the payments are monthly. suppose that your monthly payment is $25. now, the interest is 7.2% per year and the payments are monthly, so the interest rate per month is 7.2/12=0.6%. the first month; s interest on $1000 is 1000 * 0.006=6. because the payment is $25 and interest for the first month is $6, the payment toward the principal amount is 25-6=19. this means after making the first payment, the loan amount is 1000-19=981. for the second payment, the interest is calculated on $981. so the interest for the second month is 981 * 0.006=5.886, that is, approximately $5.89. this implies that the payment toward the principal is 25-5.89=19.11 and remaining balance after the second payment is 981-19.11=961.89. this process is repeated until the loan is paid. write a program that accepts as input the loan amount, the interest rate per year, and the montly payment. (enter the interest rate as a percentage. for example, if the interest rate is 7.2% per year, then enter 7.2) the program then outputs the number of months it would take to repay the loan. (note that if the monthly payment is less than the first month's interest, then after each payment, the loan amount will increase. in this case, the program must warn the borrower that the monthly payment is too low, and with this payment, the loan amount could not be repaid.)best answer

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