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Author Question: You can buy a piece of equipment for $8600. The equipment is expected to last for 9 years and you ... (Read 175 times)

daltonest1984

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on: Jun 6, 2019

Question 1

You buy a motorcycle for $52 523 plus freight of $724 and other delivery charges of $561. You have saved 25% of the total purchase price towards a down payment. The bank is willing to finance the purchase of the motorcycle at 9.86% compounded quarterly. What is the size of your monthly payment if the loan is for 4.5 years?
◦ $962.80
◦ $926.80
◦ $296.80
◦ $262.80
◦ $996.80

Question 2

You can buy a piece of equipment for $8600. The equipment is expected to last for 9 years and you want to have it completely paid off 3.5 years before it becomes unusable. Current loan rates are 9.5% compounded annually. What is the size of your semi-annual payment?
◦ $1015.98
◦ $1115.98
◦ $1055.98
◦ $1105.98
◦ $1515.98
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by daltonest1984 on Jun 6, 2019

lkoler

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Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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daltonest1984

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Reply #2 on: Jun 6, 2019
Thank you!


lkoler

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Reply #3 on: Jun 6, 2019
Always glad to help...


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