Homework Answers
PV of lease =28000
Rate per month =4.45%/12
Number of months =11*12 =132
Monthly Payment using annuity due formula
=PV/((1+r)*((1-(1+r)^-n)/r))
=28000/((1+4.45%/12)*((1-(1+4.45%/12)^-132)/(4.45%/12)))=267.65
Add Answer to:
Calculate the size of the monthly lease payments for 11 years using a lease rate of...
Question 13 of 13 Calculate the size of the monthly lease payments for 11 years using...
Question 13 of 13 Calculate the size of the monthly lease payments for 11 years using a lease rate of 4.83% compounded monthly for equipment worth $29,000 that will be owned outright at the end of the lease with no further payment. Note: Lease payments are made at the beginning of each month. $0.00 Round to the nearest cent
Arpandeep Kau Question 2 of 13 Calculate the size of the monthly lease payments for 11...
Arpandeep Kau Question 2 of 13 Calculate the size of the monthly lease payments for 11 years using a lease rate of 4.95% compounded monthly for equipment worth $29,000 that will be owned outright at the end of the lease with no further payment. Note: Lease payments are made at the beginning of each month. Round to the nearest cent Next Question 40 am
Richard leased equipment worth $36,000 for 11 years and will own it outright at the end...
Richard leased equipment worth $36,000 for 11 years and will own it outright at the end of the lease with no further payment. Calculate the size of the monthly lease payments if the lease rate is 6.69% compounded monthly. Note: Lease payments are made at the beginning of each month.
Richard leased equipment worth $35,000 for 9 years and will own it outright at the end...
Richard leased equipment worth $35,000 for 9 years and will own it outright at the end of the lease with no further payment. Calculate the size of the monthly lease payments if the lease rate is 6.53% compounded monthly. Note: Lease payments are made at the beginning of each month. yummy paid off a mortgage by paying $700 per month for 14 years. What was the original amount of the mortgage if the interest rate charged was 4.20% compounded semi-annually?
Quarter-end payments of $1,590 are made to settle a loan of $35,280 in 8 years. What...
Quarter-end payments of $1,590 are made to settle a loan of $35,280 in 8 years. What is the effective interest rate? % Round to two decimal places Raymond leased equipment worth $30,000 for 6 years. If the cost of borrowing is 6.79% compounded semi-annually, calculate the size of the lease payment that is required to be made at the beginning of each half-year. Round to the nearest cent
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,...
A loan is amortized over 7 years, with monthly payments at a nominal rate of 9.5% compounded monthly. The first payme...
A loan is amortized over 7 years, with monthly payments at a nominal rate of 9.5% compounded monthly. The first payment is $1000, paid one month from the date of the loan. Each succeeding monthly payment will be 3% lower than the prior one. What is the outstanding balance immediately after the 30th payment is made?
A car lease requires payments of $515 at the beginning of each month for 6 years....
A car lease requires payments of $515 at the beginning of each month for 6 years. If the lease rate is 4.70% compounded monthly, what should be the selling price of the car if you can purchase the car at the end of the lease for $10,500.
A car lease requires payments of $465 at the beginning of each month for 7 years....
A car lease requires payments of $465 at the beginning of each month for 7 years. If the lease rate is 4.40% compounded monthly, what should be the selling price of the car if you can purchase the car at the end of the lease for $13,000.
Using a discount rate of 9.6% APR, compounded monthly, calculate the present value of a monthly...
Using a discount rate of 9.6% APR, compounded monthly, calculate the present value of a monthly perpetuity consisting of $5200 payments if: (a) the first payment is made today (2 pts.), (b) the first payment is made one month from now (2 pts.), and (c) the first payment is made 42 months from now (2 pts.).
Question 13 of 13 Calculate the size of the monthly lease payments for 11 years using a lease rate of 4.83% compounded monthly for equipment worth $29,000 that will be owned outright at the end of the lease with no further payment. Note: Lease payments are made at the beginning of each month. $0.00 Round to the nearest cent
Arpandeep Kau Question 2 of 13 Calculate the size of the monthly lease payments for 11 years using a lease rate of 4.95% compounded monthly for equipment worth $29,000 that will be owned outright at the end of the lease with no further payment. Note: Lease payments are made at the beginning of each month. Round to the nearest cent Next Question 40 am
Richard leased equipment worth $36,000 for 11 years and will own it outright at the end of the lease with no further payment. Calculate the size of the monthly lease payments if the lease rate is 6.69% compounded monthly. Note: Lease payments are made at the beginning of each month.
Richard leased equipment worth $35,000 for 9 years and will own it outright at the end of the lease with no further payment. Calculate the size of the monthly lease payments if the lease rate is 6.53% compounded monthly. Note: Lease payments are made at the beginning of each month. yummy paid off a mortgage by paying $700 per month for 14 years. What was the original amount of the mortgage if the interest rate charged was 4.20% compounded semi-annually?
Quarter-end payments of $1,590 are made to settle a loan of $35,280 in 8 years. What is the effective interest rate? % Round to two decimal places Raymond leased equipment worth $30,000 for 6 years. If the cost of borrowing is 6.79% compounded semi-annually, calculate the size of the lease payment that is required to be made at the beginning of each half-year. Round to the nearest cent
A car lease requires payments of $515 at the beginning of each month for 6 years. If the lease rate is 4.70% compounded monthly, what should be the selling price of the car if you can purchase the car at the end of the lease for $10,500.
Most questions answered within 3 hours.
-
The rate constant of a first-order reaction is 2.95 × 10−4 s−1
at 350.° C. If...
asked 46 seconds from now -
The fuel economy of a 2011 Lexus RX 350 2wd 6 cylinder 3.5 L
automatic 5...
asked 4 minutes ago -
i.
the synthesized compund 2-bromo-butanal i have a IR peak at about
3200 and one at...
asked 4 minutes ago -
A
752 mL sample of water was placed in a 1000 gram pan of aluminum.
The...
asked 15 minutes ago -
1.In the context of chelation, what does binding strength mean?
What happens at the molecular level...
asked 8 minutes ago -
Describe two obstacles that makes fixing atmospheric nitrogen
difficult.
asked 27 minutes ago -
Evelyn incorporates her sole proprietorship, transferring it to
newly formed Papaya Corporation. The assets transferred have...
asked 14 minutes ago -
Assume that in a hydrogen atom, the electron circles the nucleus
in a circle of radius...
asked 22 minutes ago -
1 point) Given the significance level α=0.01 find the following:
(a) left-tailed z value z= (b)...
asked 16 minutes ago -
Calculate the expected value, the variance, and the standard
deviation of the given random variable X....
asked 18 minutes ago -
T
F 53) Most differences
between human groups are the result of biology rather than
culture....
asked 32 minutes ago -
A 5.20 mW helium neon laser emits a visible laser beam with a
wavelength of 633...
asked 35 minutes ago