What is your required monthly payment

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Reference no: EM131835768

1. Find the PV of an annuity-due with payments of $750 every quarter for 5 years at a nominal rate of discount 8% per annum compounded quarterly using both calculator built-in function and mathematical formula.

[DO NOT USE EXCEL]

2. You borrow $5392 to buy a car. This is a 44-month loan with an annual rate of 3.3%. What is your required monthly payment? Round to the nearest $0.01 (e.g., if your answer is $385.4789, record it as 385.48). Please show work.

Reference no: EM131835768

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