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Jamal's monthly payment for the car loan is $578.59.
Data and Calculations:
Amount of Jamal's auto loan = $30,000
Term of the auto loan = 5 years or 60 months
Interest rate payable = 5.9% APR
Monthly payment from an online financial calculator:
Monthly Pay = $578.59
Total Loan Amount = $30,000.00
Upfront Payment = $0.00
Total of 60 Loan Payments = $34,715.41
Total Loan Interest = $4,715.41
Total Cost = $34,715.41
Thus, Jamal will be making a monthly payment of $578.59.
Learn more about calculating monthly payments for auto loans at brainly.com/question/11866605
Answer:
c. 24.78%
Explanation:
For computing the expected standard deviation first we have to find out the expected rate of return which is shown below:
Expected rate of return = Respective return × Respective probability
=(0.4 × -10) + (0.2 × 10) + (0.4 × 45)
= 16%
Now we have to find out the total probability which is shown below:
Probability Return Probability × (Return - Expected Return)^2
0.4 -10 0.4 × (-10-16)^2 = 270.4
0.2 10 0.2 × (10 - 16)^2 = 7.2
0.4 45 0.4 × (45 - 16)^2 = 336.4
Total = 614%
As we know that
So
Standard deviation= [Total probability × (Return - Expected Return)^2 ÷ Total probability]^(1 ÷2)
= (614)^(1 ÷ 2)
= 24.78%
