Topic 2: Provide an annuity example

This week we learn about annuity and compounding interest. In real-life, there are lots of annuity examples, such as mortgage loans, car loans, credit card rates... etc. In this discussion, try to collect information, such as mortgage rates or car financing deals, and provide an annuity application with numbers to show how you can use your financial calculator to help you tackle an annuity task.

Please read instructions before working this !!

Please read instructions in order !! Also answer in order !! Also separate your answers if its more then one answer so easy understand when reading it !! Also keep the post professional and organized !! Also I will be posting a example my instructor posted !! Try to keep similar to her format and discussion format !!

(Example) Buying a New 2023 Toyota BZ4X

I am thinking about buying a New 2023 Toyota BZ4X with the sale price of $44,521. The dealer provides a 48-month financing offer of 3.99% APR. What would my monthly payment be if I were to purchase this car using 100% financing? With TI BA II Plus, PV=44,521, N=48, I/Y=3.99/12, FV=0 => CPT PMT=-1,005.04 By the way, the EAR = (1+3.99%/12) ^12 - 1 = 4.06%

Although the monthly payment is quite high, as it is an all-electric car, I can save gasoline. Maybe this is a good idea. What do you think?