Question

You want to buy a new sports car from Muscle Motors for $52,000. The contract is in the form of a 48-month annuity due at a 9.00 percent APR. Required: What will your monthly payment be? O $1,258.70 $1,220.17 $1,284.39 O $1,294.02 $1,310.08

Answer 1

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File Home Insert Page Layout Formulas Data - 2x fic D A ? m PV, FV, ANNUITY (Autosaved) - Microsoft Excel (Product Activation Failed) Review View Add-Ins Trace Precedents 5 Show Formulas Use in Formula Trace Dependents Error Checking Math More Name & Trig Functions Manager Create from Selection Remove Arrows" Evaluate Formula Defined Names Formula Auditing Define Name Calculate Now Watch Window Calculation Calculate Sheet Options Calculation Insert AutoSum Recently Financial Logical Text Date & Lookup & Function Used - Time Reference Function Library DP766 fic DODP DQ DR DS DI DU DV DW D S 751 752 753 754 755 MONTHLY PMT CAR LOAN RATE MONHTLY RATE NO OF MONTHLY PAYMENTS 52000 9% 0.75% 48 756 757 758 759 760 761 Present Value = 52000 = 52000 = PMT= PMT* (1/r)*(1-(1/(1+r)^n))*(1+r) PMT* (1/0.0075)*(1-(1/(1+0.0075)^48)) PMT* (40.18478189) 1294.02 762 ANSWER 763 764 765 766 767 768 769 770 771 H p CAP STRU VALUE profit margin loan with points LOCK BOX DILUTION DOLLAR COST AVG MORTGAGE EXPONPER APR CPI v, fv, annuity ferences ear FVA pva 52 53 STAI BOU 120% Rea _ DO 4 * 4 0 ENG 16-10-2019