Reference no: EM132923829

Question -

-A bank pays 6% interest, compounded semiannually. Use the appropriate formula to find how much should be deposited (in $) now to yield an annuity payment of $900 at the beginning of each six months, for 18 years. (Round your answer to the nearest cent.)

-Choi Home Repair needs to accumulate $24,000 in 6 years to purchase new equipment. What sinking fund payment (in $) would they need to make at the end of each three months, at 8% interest compounded quarterly? Use Table 12-1. (Round your answer to the nearest cent.)

-Jennifer Kaufman bought a used Toyota Prius for $18,500. She made a $2,500 down payment and is financing the balance at a particular bank over a 3 year period at 12% interest. As her banker, calculate what equal monthly payments (in $) will be required by Jennifer to amortize the car loan. (Round your answer to the nearest cent.)

-Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,300. Her loan requires a 25% down payment and equal monthly payments of $283.00 for 60 months. Calculate the total deferred payment price (in $).