Starting with the day you sign the lease contract

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Reference no: EM131975149

1. What is the future value of $1,670 in 14 years assuming an interest rate of 8.5 percent compounded semiannually? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value $

2. A car dealer is willing to lease you a car for $319 a month for 60 months. Payments are due on the first day of each month starting with the day you sign the lease contract. If your cost of money is 4.9 percent, compounded monthly, what is the current value of the lease? 37) ______

Reference no: EM131975149

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