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12 Nov 2019
When you borrow money to buy a house or a car, you pay off the loan in monthly payments, but the interest is always accruing on the outstanding of your monthly payment on a loan more complicated monthes, then your monthly payment M MPt) in dollars can be calculated using the following function dep-16741752 than you might expect. If you borrow P dollars at a monthly interest rate of r (as a decimal) and wish to pay off the note in t If you are able to make t monthly payments of M dollars. unction can be rearranged to show the amount of money P PM, r t) as shown below, in dollars, that you can afford to borrow at a monthly interest rate of r (as a decimal) Suppose you can afford to pay $3s0 per month for 3 years. (a) How much money can you afford to borrow for the purchase of a car if the prevailing monthly interest rate is 0.75%? ( your amount to two decimal places.) car dealer an arrange a special monthly interest rate of 0.25% (or 396 (c) Even at 3% APR you find yourself looking much can you afford to borrow under these conditions? (Round your answer to two decimal places.) That is 99. APR.) Express Need Help? at a car you cant afford, and you consider extending the period during which you are wiing to make payments to 4 years. How ) How much can you afford to borrow the answer in functional now? (Round your answer to two decimal 11:11 AM
When you borrow money to buy a house or a car, you pay off the loan in monthly payments, but the interest is always accruing on the outstanding of your monthly payment on a loan more complicated monthes, then your monthly payment M MPt) in dollars can be calculated using the following function dep-16741752 than you might expect. If you borrow P dollars at a monthly interest rate of r (as a decimal) and wish to pay off the note in t If you are able to make t monthly payments of M dollars. unction can be rearranged to show the amount of money P PM, r t) as shown below, in dollars, that you can afford to borrow at a monthly interest rate of r (as a decimal) Suppose you can afford to pay $3s0 per month for 3 years. (a) How much money can you afford to borrow for the purchase of a car if the prevailing monthly interest rate is 0.75%? ( your amount to two decimal places.) car dealer an arrange a special monthly interest rate of 0.25% (or 396 (c) Even at 3% APR you find yourself looking much can you afford to borrow under these conditions? (Round your answer to two decimal places.) That is 99. APR.) Express Need Help? at a car you cant afford, and you consider extending the period during which you are wiing to make payments to 4 years. How ) How much can you afford to borrow the answer in functional now? (Round your answer to two decimal 11:11 AM
akshaypatil83878Lv10
3 Mar 2023
Nelly StrackeLv2
22 Apr 2019
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