The cost of a new automobile is 10000 if the interest rate

Assignment Help Finance Basics

Reference no: EM13620905

a. The cost of a new automobile is $10,000. If the interest rate is 5%, how much would you have to set aside now to provide this sum in five years?

b. You have to pay $12,000 a year in school fees at the end of the year the next six years. If the interest rate is 8%, how much do you need to set aside today to cover these bills? What is the annuity factor? What is the set aside amount?

c. You have invested $60,476 at 8%. After paying the above school fees, how much would remain at the end of the six years?

Reference no: EM13620905

Questions Cloud

Barrett industries invests a large sum of money in rampd as : barrett industries invests a large sum of money in rampd as a result it retains and reinvests all of its earnings. in

A major concern associated with a main steam line pipe : a major concern associated with a main steam line pipe break at a pwr is a return to power even if the reactor scrams

Crude oil of specific gravity 086 is to be pumped at 20c : crude oil of specific gravity 0.86 is to be pumped at 20c. what is the min pipe size that can be used in order to

Being normally distributed with a mean of 165 ounces and a : the amount of corn chips dispensed into a 16-ounce bag by the dispensing machine has been identified asbeing normally

The cost of a new automobile is 10000 if the interest rate : a. the cost of a new automobile is 10000. if the interest rate is 5 how much would you have to set aside now to provide

A 115 granite cube slides down a 40 frictionless ramp at : a 115 granite cube slides down a 40 frictionless ramp. at the bottom just as it exits onto a horizontal table it

Analyze whether the supreme court would consider a banner : using the keywords morse v. frederick 127 s.ct. 2618 2007 search the internet and read the complete case.analyze

The diameter of ball bearings produced in a manufacturing : the diameter of ball bearings produced in a manufacturing process can be explained using a uniformprobability

Find the magnitude of the angular acceleration produced : while exercising in a fitness center a man lies face down on a bench and lifts a weight with one lower leg by

User Account

All Pages