Mr. Winking is purchasing a car and needs to finance $24,000 from the bank with an annual percentage rate (APR) of 4.8%. He is financing it over 5 years and making monthly payments. What is the monthly payment? Group of answer choices $104.54 $378.21 $450.71 $1225.56

Question

06-02-2020
Mathematics

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Mr. Winking is purchasing a car and needs to finance $24,000 from the bank with an annual percentage rate (APR) of 4.8%. He is financing it over 5 years and making monthly payments. What is the monthly payment? Group of answer choices $104.54 $378.21 $450.71 $1225.56

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NewJack931 NewJack931 · Answer 1 · 2020-02-07T10:06:41+01:00

Mr. Winking is purchasing a car and needs to finance $24,000 from the bank with an annual percentage rate (APR) of 4.8%. He is financing it over 5 years and making monthly payments. What is the monthly payment?

$450.71

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*100% CORRECT ANSWERS

Question 1

A family is purchasing a house and needs to finance a $195,000 mortgage from the bank with an annual percentage rate (APR) of 5.3%. The family is financing it over 30 years and making monthly payments. What is the monthly payment?

$1082.84

Question 2

A family is purchasing a house and needs to finance a 195,000 mortgage from the bank with an annual percentage rate (APR) of 5.3%. The family is financing it over 30 years and making monthly payments. What is the total amount the family will pay back to the bank (to the nearest dollar)?

$389,822

Question 3

Mr. Winking is purchasing a car and needs to finance $24,000 from the bank with an annual percentage rate (APR) of 4.8%. He is financing it over 5 years and making monthly payments. What is the monthly payment?

$450.71