All categories

3 years ago

6. Using the Loan Calculator and the 1.9% APR offer, how much will Molly’s monthly payment be?

Social Studies

1 answer:

Dafna11 [192]3 years ago

8 0

Answer:

The complete question is found below:

Molly saw the following deal on the Jeep website and is interested in calculating what her monthly payments ... If Molly has a $2500 down payment saved for this purchase, and assuming the $1500 Cash Allowance will apply... Use the loan calculator to determine how much will Molly's monthly payment be?

Note that the price of the cash as seen in the attached is $25,495

Repayment is for 84 months

Molly's monthly payment is $273.49

Explanation:

The amount of finance=car price-cash allowance-down payment

the amount of finance=$25,495-$1,500-$2,500=$21,495.00

Monthly payment can be determined using excel pmt formula

=pmt(rate,nper,-pv,fv)

rate is rate per month 1.9%/12=0.001583333

nper is 84 months

pv is the amount of finance which is $21,495.00

fv is the total repayment which is unknown

=pmt(0.001583333 ,84,-21,495,0)=$273.49

You might be interested in

Question 10 unsavedwhy do we study shakespeare today?question 10 options:because he wrote about lifebecause he was popular in hi

tamaranim1 [39]

Because his plays was poetic

7 0

3 years ago

Perhaps one of the most important components to studying social problems is an understanding of the difference between an object

Gnesinka [82]

<h2>The following are a few challenges faced in defining problems from an objective perspective: </h2><h2> </h2>

The degree or the intensity of the problems vary depending on the variables involved in causing them.
What may be deemed as a problem by one may be deemed as an opportunity by someone else.
It is difficult to determine whether a lack of some of the attributes should be deemed as a problem or not when it is possible to succeed in the absence of those attributes.
The ability of the problem to cause loss or damage is different in different scenarios.

6 0

3 years ago

Immigrants often faced discrimination i their new countries because of their race or ethnicity

love history [14]

Race is what i think

5 0

3 years ago

Read 2 more answers

What activities are going on at present to promote the arts in Nepal?

iVinArrow [24]

Answer:

there are many institution people are engaged today to promote the art of painting and sculpture

5 0

2 years ago

I. Farmers plant shelter belts to protect crops from wind erosion. II. Farmers practice no-till farming. III. Farmers use animal

jolli1 [7]

Answer:

D) I, II and III

Explanation:

i. Shelter Belts

Strong wind typically carry enough force to destroy the surface of the farm's land, which will accelerate the rate of land degradation. Usually, farmers put shelters belts at the edge of the farm to block such winds and prevent the soil degradation.

ii. No till farming

In this method of farming, Farmers avoid the use of tools that will destroy the composition of the soil (Such as shovel or rake). They plant the crops by creating as little disruption as possible to the soil to prevent soil degradation

iii. Animal graze over plowing.

The concept is similar to no-till farming. Animal plowing usually conducted by making a buffalo carried a giant rake to destroy the soil and provide spaces for Fertilizer. Animal graze will eliminate the use of the rake and prevent soil degradation.

8 0

3 years ago

Read 2 more answers