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Determine the final value of andrew investment

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Problem 1: Amount financed is equal to cash price _______ down payment.

A. minus

B. divided by

C. times

D. plus

Problem 2: In calculating the daily balance, cash advances are

A. sometimes subtracted out.

B. always added in.

C. always subtracted out.

D. sometimes added in.

Problem 3: Andrew invests $9,000 at the end of each year for 20 years. The rate of interest Andrew gets is 8% annually Determine the final value of Andrew's investment at the end of the twentieth year on this ordinary annuity.

A. $88,362.90

B. $88,632.90

C. $411,858.00

D. $411,588.00

Problem 4: Graduated payments result in the borrower paying

A. the mortgage at ½ the standard rate.

B. more at the beginning of the mortgage.

C. less at the end of the mortgage.

D. less at the beginning of the mortgage.

Reference no: EM132674896

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