$140.10 per month
Cash price: $5,600
Down payment: $0
Cash or trade months with bank-approved credit; amount financed: $5,600
Finance charge: $2,806
Total payments: $8,406
What is the APR by table lookup?
annually. Using the tables in the Business Math Handbook that accompanies the course textbook,
determine the final value of Joe’s investment at the end of the 20th year on this ordinary annuity.
3.Jen purchased a condo in Naples, Florida, for $699,000. She put 20% down and financed the rest at
5% for 35 years. What are Jen’s total finance charges?
4.Cost of car: $26,000
Residual value: $6,000
Life: 5 years
Using the given information, determine the depreciation expense for the first year straight-line method?
bank’s loan was for 60 months, and the finance charges totaled $4,900. What is his monthly payment?
tables in the Business Math Handbook that accompanies the course textbook, determine the cash value of
the annuity due at the end of the ninth year.
mortgage for 25 years at 8%. What is the total interest cost of the loan?
$45,000. Assuming there are no prepaid expenses, the dollar amount of merchandise inventory is
Using the tables in the Business Math Handbook that accompanies the course textbook, determine his
method at twice the straight-line rate, the book value at the end of year 2 is
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