Anna secured a lease on a machine by paying $1,300 as a down payment and then $650 at the beginning of every month...
Question 1 of 4 Cameron purchased a house for $450,000. He made a down payment of 30.00% of the value of the house and received a mortgage for the rest of the amount at 4.32% compounded semi-annually amortized over 25 years. The interest rate was fixed for a 6 year period. a. Calculate the monthly payment amount. $0.00 Round to the nearest cent b. Calculate the principal balance at the end of the 6 year term. $0.00 Round to the...
Question 2 of 5 A contract requires lease payments of $800 at the beginning of every month for 10 years. a. What is the present value of the contract if the lease rate is 5.94% compounded annually? $0.00 Round to the nearest cent b. What is the present value of the contract if the lease rate is 5.94% compounded daily? Round to the nearest cent Submit Question Next Question
Liz is leasing a vehicle worth $26,400, with a down payment of $2,500 and equal payments at the beginning of every month for three years. What is the size of each lease payment if the cost of borrowing is 6.35% compounded monthly and the residual value is $11,000? Lease payment: Round to nearest cent.
Luis deposits $130.00 into his retirement fund at the beginning of every month for 16 years. The interest rate on the fund was 3.50% compounded monthly for the first 11 years and 4.40% compounded monthly for the next 5 years. a. Calculate the value of the fund at the end of the 16-year term. $0.00 Round to the nearest cent b. How much of this is interest? Round to the nearest cent Next Question
Question 1 of 6 Lucy purchased a house for $300,000. She made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 4.52% compounded semi-annually amortized over 15 years. The interest rate was fixed for a 6 year period. a. Calculate the monthly payment amount. Round to the nearest cent b. Calculate the principal balance at the end of the 6 year term. Round to the nearest cent...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
Lionel purchased a machine for $25,000 for his company. He paid 5.00% of this amount as a down payment and financed the rest at 6.42% compounded quarterly. He paid $1,125 at the end of every quarter to settle the loan. a. What was the principal portion of payment number 4? Round to the nearest cent b. What was the interest portion of payment number 4? Round to the nearest cent
collegelink/#/course-resource/section/7304/assignment/12549 Question 7 of 7 A contract requires lease payments of $500 at the beginning of every month for 6 years. a. What is the present value of the contract if the lease rate is 5.40% compounded annually? $0.00 Round to the nearest cent b. What is the present value of the contract if the lease rate is 5.40% compounded daily? Round to the nearest cent Review Incomplete Questions Submit Assignment
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
Please round to 2 decimal
places.
A recent college graduate buys a new car by borrowing $18,000 at 7.2%, compounded monthly, for 5 years. She decides to pay $369 instead of the monthly payment required by the oan. (a) What is the monthly payment required by the loan? (Round your answer to the nearest cent.) $358.12 How much extra did she pay per month? (Round your answer to the nearest cent.) s 10.88 b) How many $369 payments will she...