You've been shopping for a truck. You have $2000 to use as a down payment, and you've been working with your bank to get the best financing rate possible. The bank recently quoted you an APR of 4.5% for 48 months, but they will only agree to finance you if your car payment does not exceed $299 per month. You recently found a nice used Chevy pickup, and you've negotiated the seller down to $15,112. Using your down payment and line of credit from the bank, can you afford the truck? Show all calculations and explain.
Answer to relevant QuestionsExplain the main differences between active and passive investing, including time horizons and costs structures. Explain the main differences between absolute return and relative return investing. You've been shopping for a van. You have $5000 to use as a down payment, and you've been working with your bank to get the best financing rate possible. The bank recently quoted you an APR of 3.99% for 72 months, but they ...You have just signed off on a legal judgment that will pay you $10,000 immediately, with this amount growing every year in perpetuity by 4% per year. If your discount rate is 12%, what lump-sum payment today would be ...Compare the value of two athlete's compensation contracts. (Do not consider any information not provided by the problem, e.g., compensation they might receive after these contracts expire.) The first athlete gets $2 million ...
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