Business, 27.02.2020 21:51 romaguera06

Monthly Payments and Finance Charges. Kimberly Jensen of Storm Lake, Iowa, wants to buy some living room furniture for her new apartment. A local store offered credit at an APR of 16 percent, with a maximum term of four years. The furniture she wishes to purchase costs $4,800, with no down payment required. Make the following calculations: (a) What is the amount of the monthly payment if she borrowed for four years?b. What are the total finance charges over that four-year period? Round your answer to the nearest dollar.
c. How would the payment change if Kimberly reduced the loan term to three years? Round your answer to the nearest cent.
A(n) increase/decrease of $ compared to the 4-year loan.
d. What are the total finance charges over that three-year period? Round your answer to the nearest dollar.
$
e. How would the payment change if she could afford a down payment of $600 with four years of financing? Round your answer to the nearest cent.
A(n) increase/decrease of $ compared to the $4,900, 4-year loan.

What are the total finance charges over that four-year period given the $600 down payment? Round your answer to the nearest dollar.

$

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 21:00

Captain john's yachts, inc., located in fort lauderdale, florida, rents three types of ocean-going boats: sailboats, cabin cruisers, and captain john's favorite, the luxury yachts. captain john advertises his boats with his famous "you rent"we pilot" slogan, which means that the company supplies the captain and crew for each rented boat. each rented boat has one captain, of course, but the crew sizes (deck hands, galley hands, etc.) differ. the crew requirements, in addition to a captain, are one for sailboats, two for cabin cruisers, and three for yachts. ten employees are captains, and an additional 18 employees fill the various crew positions. currently, captain john has rental requests for all his boats: four sailboats, eight cabin cruisers, and three luxury yachts. if captain john's daily profit contribution is $50 for sailboats, $70 for cruisers, and $100 for luxury yachts, how many boats of each type should he rent?

Answers: 2

Answer

Business, 22.06.2019 09:00

Brian has been working for a few years now and has saved a substantial amount of money. he now wants to invest 50 percent of his savings in a bank account where it will be locked for three years and gain interest. which type of bank account should brian open? a. savings account b. money market account c. checking account d. certificate of deposit

Answers: 1

Answer

Business, 22.06.2019 11:10

Sam and diane are completing their federal income taxes for the year and have identified the amounts listed here. how much can they rightfully deduct? • agi: $80,000 • medical and dental expenses: $9,000 • state income taxes: $3,500 • mortgage interest: $9,500 • charitable contributions: $1,000.

Answers: 1

Answer

Business, 22.06.2019 21:00

Ryan terlecki organized a new internet company, capuniverse, inc. the company specializes in baseball-type caps with logos printed on them. ryan, who is never without a cap, believes that his target market is college and high school students. you have been hired to record the transactions occurring in the first two weeks of operations.

Answers: 1

Answer

You know the right answer?

Monthly Payments and Finance Charges. Kimberly Jensen of Storm Lake, Iowa, wants to buy some living...

Questions