A smooth used-car salesman who smiles considerably is offering you a great deal on a preowned car.
Question:
A smooth used-car salesman who smiles considerably is offering you a great deal on a “preowned” car. He says, “For only six annual payments of $2,500, this beautiful 1998 Honda Civic can be yours.” If you can borrow money at 8%, what is the price of this car?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
Formula Answer Rounded ...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Finance questions
-
A Honda Civic Hybrid averages 627 miles on a 12.3-gallon tank of gas. Ramona Hatch has enough money to put 6.9 gallons of gas in her Honda Civic Hybrid. She is planning on driving home from college...
-
Price of a 2012 Honda Civic EX (in $) from its Mileage (in miles) was fit to 18 cars that were available during the week of March 1, 2013 (Kellys Blue Book, www.kbb.com) within 200 miles of San...
-
If a Mack truck and Honda Civic have a head-on collision, upon which vehicle is the impact force greater? Which vehicle experiences the greater deceleration? Explain your answers.
-
ME-1" Ltd. acquired 80% equity shares of You-2nd Ltd. on 30/04/2020 for a cost of GHS60,000. At that time the general reserves were GHe6,000 respectively.
-
The situation in Exercise 13.
-
Give the reason why a dielectric material increases capacitance compared with what it would be with air between the plates of a capacitor. What is the independent reason that a dielectric material...
-
Cumulative Poisson probabilities can be calculated using MINITAB. Output: Poisson with mean \(=1.64\) Find the cumulative Poisson probabilities for \(x=2\) and \(x=3\) when (a) \(\lambda=2.73\); (b)...
-
Tiago makes three models of camera lens. Its product mix and contribution margin per unit follow: Required: 1. Determine the weighted-average contribution margin per unit. 2. Determine the number of...
-
Suppose you invest $200000 into S&P 500 with the expectation that S&P will earn 0.7% per year from now on. What do you expect your investment to be worth in 8 years?
-
Give IUPAC name for the followingcompounds: (c) NC. CH 2 () (a) CHCH2CH2CH CH2 CH () CH CH2CO2H (d) (e) CHH2H2H2CH3 CHCN CH (g) Br (h) CN BRCH2CHCH2CH2CO2H
-
County Ranch Insurance Company wants to offer a guaranteed annuity in units of $500, payable at the end of each year for twenty-five years. The company has a strong investment record and can...
-
Reginald is about to lease an apartment for the year. The landlord wants the lease payments paid at the start of the month. The twelve monthly payments are $1,300 per month. The landlord says he will...
-
What are the requirements for effective market segmentation?
-
How do factors such as temperature, pH, substrate concentration, and enzyme concentration affect enzyme activity, and what are the molecular mechanisms underlying their influence on enzymatic...
-
You have recently taken out a loan of $338,000 with an Annual Percentage Rate (APR) of 6.3%. The loan term is 10 years, with fixed monthly payments. Calculate the monthly payment amount of loan.
-
How do enzymes participate in complex metabolic networks and signaling pathways, orchestrating biochemical transformations and cellular responses to environmental cues and physiological demands?
-
Describe how you would choose between personal values, organizational values, and your responsibility to the shareholders.
-
How does/will Financial Functions assist you in your upcoming courses or future goals? Write a paragraph explaining to fellow classmates how these functions will be utilized.
-
You buy a zero coupon bond at the beginning of the year that has a face value of $1,000, a YTM of 5.3 percent, and 25 years to maturity. If you hold thebond for the entire year, how much in interest...
-
What are the 5 Cs of marketing channel structure?
-
Alpha Oil signed a PSC with the government of Indonesia giving it the exploration rights to Block
-
Estimate the default premium and the maturity premium given the following three investment opportunities: A Treasury bill with a current interest rate of 3.5%, a Treasury bond with a twenty year...
-
What is the EAR of a car loan that is advertised at 9.5% (APR) and paid with monthly payments?
-
What payment does Denise (from problem 8) need to make at the end of each month over the coming forty-four years at 6% to reach her retirement goal of $1,000,000?
-
How does the 360-degree feedback method address the court's six stress issues depicted in Gerhart and Newman's reading? Since the Brito case, there has been growing evidence that the courts have very...
-
Read"Why Race Isn't as"Black"and White"as We Think"by Brent Staples. What can you find out about your own racial,religious,and cultural heritage? Search the Gateway library database: Ancestry Library...
-
Describe the classic steps for identifying an endocrine gland. Are these steps practical for identifying the sources of all the hormones we know of today? Explain.
Study smarter with the SolutionInn App