You plan to ask your grandparents for a down payment on a car that costs $30,000....

You plan to ask your grandparents for a down payment on a car that costs $30,000. The 4-year car loan you are going to get is: $300 monthly payments (1st payment one month from today) and 6% annual interest rate. How much down payment do you need from your grandparents?

What is the present value of a 5-year annuity with annual payments of $200 at a 15% discount rate?

You just got a 20-year mortgage loan with $1,200 monthly payments and 4.8% annual interest rate (compounds monthly). How much money do you need if you want to pay off this loan right after the 40th payment?

You plan to have $10,000 at the end of 6 years from now. You are going to deposit today $6,663 (one time only) in a bank. What is the annual interest rate you must earn on your saving?

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jeff jeffy answered 2 years ago

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