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Homework Answers
Present value= $22,311
Time= 1 years*12= 12 months
Monthly payment= $1,924
The monthly interest rate is computed by entering the below in a financial calculator:
PV= -22,311
N= 12
PMT= 1,924
Press the CPT key and I/Y to compute the monthly interest rate.
The value obtained is 0.5306.
The annualized interest rate is 0.5306*12= 6.3676% 
6.37%.
Hence, the answer is option d.
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Show work and answer correctly for thumbs up!
Set this up carefully. You found a 2009 Toyota 4-Runner on sale for $22,311. The dealership says it will finance the entire amount with a one year loan. You will need to make monthly payments of $1,924. What is the ANNUALIZED interest rate on this loan. 8.6% .97% 53% 6.37%
Show work and answer correctly for thumbs up!
For an initial investment of $10,000, you are offered the opportunity to receive $4,000 at the end of the year for the next 10 years. What is the irr of this opportunity? $16,840 o need to know the cost of capital O 38.45% O 8%
Show work and answer correctly for thumbs up!
You use an Annuity Due approach to investing in your retirement. For the next 40 years, you invest $8500 per year into your retirement account where you will receive an 8% annual return. How much will you have in 40 years? (round to the nearest dollar) It depends on your Beta 2,201,980 2,378,139 340,000
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if you do correctly i will %100 thumbs up
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following questions correctly, show your work, and please remember
to do the "insert picture here" and "write your response
here".
1)
3)
4)
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