Question: . I NEED HELP FOR 2 AND 3 PLEASE. THANK YOU! I WILL UPVOTE FOR SURE Derek decides to buy a new car. The dealership
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I NEED HELP FOR 2 AND 3 PLEASE. THANK YOU!
I WILL UPVOTE FOR SURE
Derek decides to buy a new car. The dealership offers him a choice of paying $574.00 per month for 5 years (with the first payment due next month) or paying some $28,429.00 today. He can borrow money from his bank to buy the car. What interest rate makes him indifferent between the two options? Points: 1 Answer format: Percentage Round to: 3 decimal places (Example: 9.243\%, \% sign recuired. Wiil accept decimal format Attempts Remaining: Infinity rounded to 5 decimal places (ex: 0.09243)) Derek wants to withdraw $14,820.00 from his account 7.00 years from today and $13,748.00 from his account 13.00 years from today. He currently has $2,918.00 in the account. How much must he deposit each year for the next 13.0 years? Assume a 5.18% interest rate. His account must equal zero by year 13.0 but may be negative prior to that. Atternpts Remaining: Infinity Answer format: Currancy: Round to: 2 decirmal places. Derek currently has $10,821.00 in an account that pays 5.00\%. He will withdraw $5,113.00 every other year beginning next year until he has taken 7.00 withdrawals. He will deposit $10821.0 every other year beginning two years from today until he has made 7.0 deposits. How much will be in the account 22.00 years from today? Attempts Remaining: Infinity Answer format: Currency: Round to: 2 decimal places. Derek can deposit $213.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 13.00% and compounds interest monthly. Derek can deposit $2,497.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds intereat annually. What rate must Bank B pay for Derek to have the same amount in both accounts after 10 years? Points: 1 Attempts Remaining: Infinity Answer format: Percentage Round to: 4 decimal places (Example: 9.2434\%, \% sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))
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