Will has started work but needs a car to travel from home. He uses a financecompany loan to buy a $12,000 used electric car. The loan has a term of fiveyears, with an interest rate of 9.5%. The monthly repayments are $252.a. Work out the total cost of the car over five years

Will has started work but needs a car to travel from home. He uses a financecompany loan to buy a $12,000 used electric car. The loan has a term of fiveyears, with an interest rate of 9.5%. The monthly repayments are $252.a. Work out the total cost of the car over five years.b. Calculate the total amount Will will pay in interest over the five year termof the loan.c. Use the Sorted.org debt calculator to explore how much money Will couldsave if he increases the monthly payment to $282.

Wade Ellis buys a new car for $16,515.75. He puts 10% down and obtains a simple interest amortized loan for the rest at 1112% interest for four years. (Round your answers to the nearest cent.)(a) Find his monthly payment.

(a) The marked price of a car is $49 500. A person can pay a deposit of 30% and simpleinterest at 12% per annum is charged on the outstanding balance. The total amountpayable is to be paid years.Calculate:(i) The amount of each instalment(ii) The hire purchase price of the car.(b) The total amount of $49 500 borrowed from the bank at 11% per annum for a periodof 3 years.Calculate:(i) The total amount to be repaid to the bank(ii) The amount of each monthly instalment.

1. Tom decides to save money to buy his dream car. He deposits $8,000 into a savings account with an annual interest rate of 6%. Calculate the simple interest after 3 years.*4 points$1,140$1,240$1,340$1,4402. Emily starts saving for her college education by depositing $12,000 into an education fund with an annual interest rate of 5%. Calculate the simple interest after 4 years.*4 points$1,400$2,400$3,400$4,4003. Mark is saving for a home renovation project. He deposits $15,000 into a savings account with an annual interest rate of 8%. Calculate the total amount after 2.5 years.*4 points$12,000$14,000$16,000$18,0004. Alex invests $25,000 in a small business with an annual interest rate of 9%. Calculate the simple interest after 2 years.*4 points$1,500$2,500$3,500$4,5005. A group of friends (5 members) decides to start a vacation savings club. Each friend contributes $500 to the club every year, and the total amount is deposited into a savings account with an annual interest rate of 4%. Calculate the total amount in the savings account after 5 years.*4 points$1,000$2,000$3,000$4,000

Jackson decided to take out a car loan for the next three years. The car is selling at $39,000 with a down payment of $12,000. The car dealership provides Jackson with the option of repaying the loan in equal instalments at the end of each month, at an interest rate of 22% p.a. compounding monthly. Calculate the amount of money Jackson needs to pay each month and round your answer to 2 decimal places.