This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Jacob needs to borrow $19 000 to purchase a car. If the interest rate is seven percent compounded ... (Read 81 times)

cabate

  • Hero Member
  • *****
  • Posts: 537
on: Nov 11, 2019
Jacob needs to borrow $19 000 to purchase a car. If the interest rate is seven percent compounded monthly, which of the following is true when considering a five, seven or ten year term?
◦ If he selects a five year term he will save $1514.55 in interest compared with the seven year term.
◦ If he selects a ten year term he will save $2385.28 in interest compared with the seven year term.
◦ The overall interest will be the same, regardless of the term.
◦ If he selects a seven year term he will save interest by keeping his payments to $286.76 per month.
Personal Finance ¦ Madura, Gill ¦ 3rd Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by cabate on Nov 11, 2019

wfdfwc23

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Nov 11, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 30% of students answer this correctly


cabate

  • Member
  • Posts: 537
Reply 2 on: Nov 11, 2019
YES! Correct, THANKS for helping me on my review

nguyenhoanhat

  • Member
  • Posts: 332
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Influence of substrate concentration on the rate of an enzyme-catalyzed reaction. Influence of substrate concentration on the rate of an enzyme-catalyzed reaction.
How to calculate simple interest (Part 5; r = I/Pt) How to calculate simple interest (Part 5; r = I/Pt)
How to convert fractions to decimals to percent How to convert fractions to decimals to percent
Relationship between Income Inequality and the Desired Tax Rate Relationship between Income Inequality and the Desired Tax Rate
For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ... For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ...
Explain the myogenic autoregulation of the glomerular filtration rate Explain the myogenic autoregulation of the glomerular filtration rate
Video: Summation - defined, spatial, temporal & AP generation or not

For a complete list of videos, visit our video library