Question: Cri computer Problem 5: You are buying a car. The one you have choosen to purchase is going to cost you $32,985. Your car salesman
Cri computer Problem 5: You are buying a car. The one you have choosen to purchase is going to cost you $32,985. Your car salesman has told you that you can purchase this vehicle for $525 per month for 72 months. What interest rate will you be paying? Note: For a loan the price is listed Because the bank gives you the money in FV is 0, because the loan will be paid off NPER 1/Y (Rate) PV PMT FV Compounding Periods CPT (Compute) ? Remember, interest rates are ALWAYS stated as yearly rates. See "Compounding More Frequently on the General Information Tab Problem 7: If the cash flows listed below were deposited at 4.1% interest, what would the present value be? NPER Year Am I/Y (Rate) 22 PV 21 31 PMT FV Compounding Periods CPT (Compute)? 23 23 24 25
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