Question
In: Finance
You want to buy a car for cash 5 years from now. The car price at...
You want to buy a car for cash 5 years from now. The
car price at that time will be 20000 dollars. To this end you want
to make an annuity deposit each year so that you accumulate the
required amount. Interest rate is 6%. How much do you have to
deposit each year if (i) deposits are made at the end of each year
(ii) deposits are made at the beginning of each year.
Solutions
jeff jeffy answered 7 months agoRelated Solutions
You want to buy a car for cash 5 years from now. The car price at...
You want to buy a car for cash 5 years from now. The car price
at that time will be 20000 dollars. To this end you want to make an
annuity deposit each year so that you accumulate the required
amount. Interest rate is 6%. How much do you have to deposit each
year if (i) deposits are made at the end of each year (ii) deposits
are made at the beginning of each year.
You want to buy a new sports car 3 years from now, and you plan to...
You want to buy a new sports car 3 years from now, and you plan
to save $4,000 per year, beginning one year from
today. You will deposit your savings in an account that
pays 6.5% interest. How much will you have just after
you make the 3rd deposit, 3 years from now?
Group of answer choices
$12,986
$12,635
$12,364
$12,486
You want to buy a new sports car 3 years from now, and you plan to...
You want to buy a new sports car 3 years from now, and you plan
to save $4,200 per year, beginning immediately from today. You will
deposit your savings in an account that pays 9.5% interest. How
much will you have 3 years from now?
a. $11,973
b. $12,603
c. $13,267
d. $13,835
e. $15,149
You want to buy a house 5 years from now, and you plan to save $4100...
You
want to buy a house 5 years from now, and you plan to save $4100
per year. beginning Immediately. You will make 5 deposits in an
account that pays 4.3% interest. Under these assumptions, how much
will you have 5 years from today?
Company XYZ soustanding bonds have a $1.000 value and they
mature in 25 years. Their nominal yield to maturity is 9.66 % they
pay interest semiannually, and they sell at a price of $850. What
is...
You want to buy a car that has a price of $30,000. You will trade in...
You want to buy a car that has a price of $30,000. You will
trade in a vehicle that has payments of $215.84 per month. You have
2.5 years left at an APR of 6%. They will give you $7000 in trade
in. If you trade in and finance the car for 5 years @ 7% APR, what
will your payment be?
You want to buy a new sports car 3 years from now, and you plan to save $6,200 per year, beginning one year from today.
You want to buy a new sports car 3 years from now, and
you plan to save $6,200 per year, beginning one year from today.
You will deposit your savings in an account that pays 5.2%
interest. How much will you have just after you make the 3rd
deposit, 3 years from now? (Hint: Ordinary Annuity)
You wish to buy a car in 2.5 years and would like to start saving now...
You
wish to buy a car in 2.5 years and would like to start saving now
for the down payment. Figure a 15 % down payment. Target price will
be $65000. You currently have the ability to earn an after tax rate
of 9.5% on investments. When you purchase the car you plan to
finance it at 2.9% for 4 years.
How much will you be financing when the time comes? How do you
find that amount?
What calculation will...
You want to have $54,000 in your savings account 5 years from now, and you're prepared...
You want to have $54,000 in your savings account 5 years from
now, and you're prepared to make equal annual deposits into the
account at the end of each year. If the account pays 7.3 percent
interest, what amount must you deposit each year?
Multiple Choice
$10,800.00
$3,941.97
$9,334.06
$3,942.02
$13,155.56
Mr. Andrew wants to buy a house 10 years from now. The price of the property...
Mr. Andrew wants to buy a house 10 years from now. The price of
the property that he is intending to buy cost N$ 1.5 million now.
The inflation per year is estimated to be 5.1%, 5.3%, 5.7%, 5%, and
4.5% for the next five years and expected to remain at 4.4% for the
next five years. If Andrew starts an annuity savings scheme which
offers an interest of 6% per annum, then to buy the house at the
end...
It is time to buy a new car. You worked hard and want to buy an...
It is time to buy a new car. You worked hard and want to buy an
expensive car (Porsche Cayenne) for $100,000. Porsche dealership
will gladly finance your new purchase. However, the only way for
you to be financed is to show them that you have 20% of the money
needed. As soon as you have that much money in your account, the
dealership will finance your new vehicle. You start saving for 52
months with the APR of 7.5%,...
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