Thursday

April 17, 2014

April 17, 2014

Posted by **Camille** on Saturday, March 9, 2013 at 5:25pm.

a) What is the cash price of the car?

b)How much, in total, will Jane spend on interest charges?

I can't seem to apply the loan payment formula ! Help please? Thanks

- Finance Math -
**Reiny**, Saturday, March 9, 2013 at 8:10pmn = 36

i = .058/12 = .0048333... ( store that in calculator's memory)

Present value of her loan

= 100( 1 - (1+.058/12)^-36)/(.058/12)

= $3296.91

plus her downpayment of $1500

would give a present value of $4796.91

**Related Questions**

math - Sam received a $290 discount loan to purchase a stereo. The loan was ...

Finance - Mr. A has taken a car on lease. The down payment is80% of Total amount...

Math - Jim made a down payment of 1000 dollars toward the purchase of a car. To ...

math: reply asap - Betsy inherits 1500 and would like to put some of it away for...

math - Jeanna wants to buy a new boat for her family. She has two payment ...

Real Estate Finance - The formula for calculating the down payment on an FHA ...

math - Scott and Jen are looking at a house listed for 189000 dollars. They will...

Math, rates - Which rates are equivalent? 6 U.S. dollars = 18 U.S. dollars 8 ...

Finance - A building is priced at 125,000. If a down payment of 25,000 is made ...

finance mortgage payment - Purchase a home for $160,000. I intend to put down 20...