If a 25-year ordinary annuity has a present value of 14,643, and an interest rate of...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/664996cf38caf_766664996ce7ba05.jpg)
Transcribed Image Text:
If a 25-year ordinary annuity has a present value of 14,643, and an interest rate of 13.0%, what is the amount of each annuity payment to the nearest whole dollar? Question 7 4 pts You are considering buying a new car. The sticker price is $34,556 and you have $4,653 to put toward a down payment. If you can negotiate a nominal annual interest rate of 5.4 percent and you wish to pay for the car over a 6-year period, what are your monthly car payments in dollars and cents? D Question 8 4 pts What is the future value of a 31-year ordinary annuity with annual payments of $1,085, evaluated at a 8.6 percent interest rate? State your answer to the nearest whole dollar. If a 25-year ordinary annuity has a present value of 14,643, and an interest rate of 13.0%, what is the amount of each annuity payment to the nearest whole dollar? Question 7 4 pts You are considering buying a new car. The sticker price is $34,556 and you have $4,653 to put toward a down payment. If you can negotiate a nominal annual interest rate of 5.4 percent and you wish to pay for the car over a 6-year period, what are your monthly car payments in dollars and cents? D Question 8 4 pts What is the future value of a 31-year ordinary annuity with annual payments of $1,085, evaluated at a 8.6 percent interest rate? State your answer to the nearest whole dollar.
Expert Answer:
Posted Date:
Students also viewed these finance questions
-
Use the DerivaGem software to value a five-year collar that guarantees that the maximum and minimum interest rates on a LIBOR-based loan (with quarterly resets) are 7% and 5% respectively. The LIBOR...
-
What are the primary characteristics of an annuity? Differentiate between an ordinary annuity and an annuity due.
-
It has been estimated that the new product just presented by your Research and Development (R&D) department will bring in net cash flows of $80,000 per year for four years. Marketing will begin...
-
What is a buying center? What are the roles of the various people in a buying center?
-
Nelson Corporation has made the following forecast of sales, with the associated probabilities of occurrence noted. Sales Probability $200,000 ...... 0.20 300,000 ........ 0.60 400,000 ........ 0.20...
-
The Rendleman, Jones and Latane study found a short term momentum effect around ________________that is counter to market efficiency. price bubbles dividend announcements earnings announcements the...
-
Question 9 (1 point)\ In January Y9, Sarnia Ltd. had purchased an investment for $150,000 . By December\ 31 , Y9, the fair market value of that investment had increased by $20,000 . Assuming\ this...
-
A fixed asset with a cost of $27,412 and accumulated depreciation of $24,670.80 is sold for $4,660.04. What is the amount of the gain or loss on disposal of the fixed asset?
-
What is the average rate of change of f(x) = x + 2x - 6 on the interval [1,5]?
-
In 2022, Jim Ross had total long-term capital gains of $4,700 and long-term capital losses of $9500 (all in the 0% / 15% / 20% bucket). In total, how much of the $9500 in losses can good ole' Jim...
-
10. The mean of a normal probability distribution is 60; the standard deviation is 5 a. About what percent of the observations lie between 55 and 65? b. About what percent of the observations lie...
-
In Department III of SAMCIS Company, a portion of the materials (a by-product) is removed further processed and sold. The Company uses the reversal cost method to account for the by-product. Data for...
-
Fun With Finance is considering a new 3-year expansion project that requires an initial fixed asset investment of $1.62 million. The fixed asset will be depreciated straight-line to zero over its...
-
Identify the tax issues or problems suggested by the following situations. State each issue as a question. Jennifer did not file a tax return for 2007 because she honestly believed that no tax was...
-
What are the two basic requirements to support the declaration of a cash dividend? What are the effects of a cash dividend on assets and shareholders equity?
-
Describe the roles and responsibilities of management, the board of directors, and independent auditors in the financial reporting process.
-
Independent Businesses. Galati and Brambila formed a corporation called Financial Fitness Systems, each woman taking 50 per cent of the authorized common stock. Galati is a Dottore Commercialista...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App