Homework Answers
![Total amount paid after 5 years $370.46*12 months *5 years $22,227.6 Hence, total amount paid after 5 years is S22,227.6 Now, calculate the interest paid to lease the vehicle: Total amount that should be paid to own the vehicle $22,227.6S15,000 S37,227.6 Present value of the vehicle S37,227.61+ 0.0549/12)5 12] -$28,308.91 Total Interest paid to lease the vehicle - S37,227.6 - S28,308.91 - S8,918.69 Hence, total interest paid to lease the vehicle is $8,918.69](http://img.homeworklib.com/questions/79fc0ac0-7211-11ea-a9c6-db8d80c777aa.png?x-oss-process=image/resize,w_560)
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Total amount paid after 5 years:-- Total interest paid: payments evehicle for years at a rate...
Determine Car Lease Payments: The term of the lease is 5 years, for 60 monthly payments....
Determine Car Lease Payments: The term of the lease is 5 years, for 60 monthly payments. The current value of the car is $100,000, and the residual value at the end of year 5 is $42,000. 1.) The annual interest rate (APR) on the lease is 3.0%. Assuming you do not put down any money upfront, what is the monthly lease payment? Please list the formula. 2.) If there is an upfront sales tax of $4,640 you have to pay,...
If you invest $17,500 per year for 17 years (all payments made at the beginning of each year)
Calculate all of the problems in the document below in an Excel spreadsheet or on a financial calculator. Please show your work in order to get credit. For each problem, state the inputs given, what you are being asked to find (the missing input), and then use the Finance function to get the correct answer (if using Excel).17. If you invest $17,500 per year for 17 years (all payments made at the beginning of each year), you will have accumulated...
Calculate effective 3 years rate after 3 years if interest paid annually
Suppose you receive $100 at the end of each year for the next three years. If the interest rate is 5% per annum (interest paid annually), calculate the effective 3 years rate (total interest over 3 years). Hint: EFFECT function is not appropriate for this part as it is often used to compute an effective annual interest rate from a nominal interest rate.Is there a specific excel formula to count it?
what is the annual interest rate? the payments are monthly. so its 3 years total. please...
what is the annual interest rate? the payments are monthly. so
its 3 years total. please show how you would calculate on
excel.
36 Months Lease Term: $0.00 1st 11 Payments: $68,742.10 $1,900,000.00 12th Payment On: Purchase Pri ce:
TR issues 5.0%, 5-year bonds with a total face amount of $1,000,000. The market interest rate...
TR issues 5.0%, 5-year bonds with a total face amount of $1,000,000. The market interest rate for bonds of similar risk and maturity is 5.2%. Interest is paid semi-annually. DO NOT ROUND YOUR ANSWERS UNTIL YOU FULLY COMPLETE THE PROBLEM SET (input your answers after you've completed the entire problem). 4. $ _ (rounded to nearest dollar). What is the issue price of the bond? 5. $ (rounded to nearest dollar). When the company records the first interest payment, how...
1. Complete the following table. Number of Annual Payments or Years Present Value Interest Rate Future...
1. Complete the following table. Number of Annual Payments or Years Present Value Interest Rate Future Value Annuity 10 $250.00 12% 20 S1,000 25 S500,000 30 S1,000,000 2. You just started working and you planned to save $5,000 every year in your retirement account. How much money will you have in your retirement account once you retire in 40 years? Your retirement account pays 4% interest rate per year. 3. You just retired with S1,000,000 savings. You'd like to receive...
5. You obtain a 30 years loan on the 2.4% nominal interest rate mortgage of $18,000,000 from ABC ...
Enginering Economy:
5. You obtain a 30 years loan on the 2.4% nominal interest rate mortgage of $18,000,000 from ABC bank. The payment is due each month. You are allowed to pay back only the interest due for the first three years (the grace period) then make the monthly payments thereafter. You have paid back the loan for 10 years including the three years ofthe grace period. (30%) 5.1 What is the interest due per month for the first three...
3. You wish to purchase a $40,000 new car in 5 years. If interest is paid...
3. You wish to purchase a $40,000 new car in 5 years. If interest is paid at a 7.5% annual rate, compounded monthly, what lump sum would you need to deposit into your account today in order to have the $40,000 after 5 years?
3. You wish to purchase a $40,000 new car in 5 years. If interest is paid...
3. You wish to purchase a $40,000 new car in 5 years. If interest is paid at a 7.5% annual rate, compounded monthly, what lump sum would you need to deposit into your account today in order to have the $40,000 after 5 years ?
2. You borrowed $6,000.00 for 5 years at 7% annual interest rate. The banker said that...
2. You borrowed $6,000.00 for 5 years at 7% annual interest rate. The banker said that to repay the total loan amount you have to pay $1,463 at the end of each year. a) Draw a time line depicting this cash low b) Build a table to determine how much of the annual payment is interest, and 2 how much principal is there in each annual payment. 4
what is the annual interest rate? the payments are monthly. so
its 3 years total. please show how you would calculate on
excel.
36 Months Lease Term: $0.00 1st 11 Payments: $68,742.10 $1,900,000.00 12th Payment On: Purchase Pri ce:
TR issues 5.0%, 5-year bonds with a total face amount of $1,000,000. The market interest rate for bonds of similar risk and maturity is 5.2%. Interest is paid semi-annually. DO NOT ROUND YOUR ANSWERS UNTIL YOU FULLY COMPLETE THE PROBLEM SET (input your answers after you've completed the entire problem). 4. $ _ (rounded to nearest dollar). What is the issue price of the bond? 5. $ (rounded to nearest dollar). When the company records the first interest payment, how...
1. Complete the following table. Number of Annual Payments or Years Present Value Interest Rate Future Value Annuity 10 $250.00 12% 20 S1,000 25 S500,000 30 S1,000,000 2. You just started working and you planned to save $5,000 every year in your retirement account. How much money will you have in your retirement account once you retire in 40 years? Your retirement account pays 4% interest rate per year. 3. You just retired with S1,000,000 savings. You'd like to receive...
Enginering Economy:
5. You obtain a 30 years loan on the 2.4% nominal interest rate mortgage of $18,000,000 from ABC bank. The payment is due each month. You are allowed to pay back only the interest due for the first three years (the grace period) then make the monthly payments thereafter. You have paid back the loan for 10 years including the three years ofthe grace period. (30%) 5.1 What is the interest due per month for the first three...
3. You wish to purchase a $40,000 new car in 5 years. If interest is paid at a 7.5% annual rate, compounded monthly, what lump sum would you need to deposit into your account today in order to have the $40,000 after 5 years?
3. You wish to purchase a $40,000 new car in 5 years. If interest is paid at a 7.5% annual rate, compounded monthly, what lump sum would you need to deposit into your account today in order to have the $40,000 after 5 years ?
2. You borrowed $6,000.00 for 5 years at 7% annual interest rate. The banker said that to repay the total loan amount you have to pay $1,463 at the end of each year. a) Draw a time line depicting this cash low b) Build a table to determine how much of the annual payment is interest, and 2 how much principal is there in each annual payment. 4
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