# Monthly payments 2

Suppose you have selected a new car to purchase for $19,500. If we can finance the car over four years at an annual rate of 6.9% compounded monthly, how much will your monthly payments be?

## Correct answer:

Tips for related online calculators

Our percentage calculator will help you quickly calculate various typical tasks with percentages.

Do you want to convert time units like minutes to seconds?

Do you want to convert time units like minutes to seconds?

#### You need to know the following knowledge to solve this word math problem:

#### Units of physical quantities:

#### Grade of the word problem:

## Related math problems and questions:

- Dream home

You finally found your dream home. It sells for $120,000 and can be purchased by paying 10% down and financing the balance at an annual rate of 9.6% compounded monthly. a) How much are your payments if you pay monthly for 30 years? b) Determine how much w - Present value

A bank loans a family $90,000 at a 4.5% annual interest rate to purchase a house. The family agrees to pay the loan off by making monthly payments over 15 years. How much should the monthly payment be in order to pay off the debt in 15 years? - Future value

Suppose you invested $1000 per quarter over 15 years. If money earns an annual rate of 6.5% compounded quarterly, how much would be available at the end of the time period? How much is the interest earned? - Savings

Suppose on your 21st birthday you begin making monthly payments of $500 into an account that pays 8% compounded monthly. If you continue the payments until your 51st birthday (30 years), How much money is in your account? How much of it is interesting? Sh

- How much 2

How much money would you need to deposit today at 5% annual interest compounded monthly to have $2000 in the account after nine years? - Retirement annuity

How much will it cost to purchase a two-level retirement annuity that will pay $2000 at the end of every month for the first ten years and $3000 per month for the next 15 years? Assume that the payment represents a rate of return to the person receiving t - Annual interest

A loan of 10 000 euros is to be repaid in annual payments over ten years. Assuming a fixed 10% annual interest rate compounded annually, calculate: (a) the amount of each annual repayment (b) the total interest paid. - Interest compounded annually

If you deposit $4500 at 5% annual interest compounded annually, how much money will be in the account after ten years? - You take

You take out Php 20000 loan at a 5% interest rate. If the interest is compounded annually, a. Give an exponential model for the situation b. How much Will you owe after ten years?

- Wendy

Wendy deposits R6500 into an account, paying 8% annual interest compounded monthly. How much money will be in her account after 84 months of paying 8% annual interest compounded continuously? - If you 2

If you deposit $4000 into an account paying 9% annual interest compounded monthly, how long until there is $10000 in the account? - Saving for education

Suppose a couple invested Php 50 000 in an account when their child was born to prepare for a college education. If the average interest rate is 4.4% compounded annually, a, Give an exponential model for the situation b, Will the money be doubled by the t - Bank

Paul put 10000 in the bank for 6 years. Calculate how much you will have in the bank if he does not pick earned interest or change deposit conditions. The annual interest rate is 3.5%, and the tax on interest is 10%. - An account

Seth has $9,399 in an account. The interest rate is 4 17/20% compounded annually. To the nearest cent, how much will he have in 2 years?

- Compound interest 4

3600 dollars Peter placed in an account with an annual interest rate of 9%. How much will be in the account after 25 years, to the nearest cent? - Interest rate

We borrowed CZK 50,000. The annual interest rate was 6%. We have to repay the entire debt in 5 years. How much will we pay? (use the compound interest relationship). - Deposit account

How much money will be in the account after ten years if you deposit $4500 at a quarterly 5% annual interest compound?