You would like to purchase a car with a list price of $30,000, and the dealer offers

Question:

You would like to purchase a car with a list price of $30,000, and the dealer offers financing over a five-year period at 8%. If repayments are to be made annually, what would your annual payments be? Show calculations using three methods (tables, financial calculator, and Excel).

Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...