Ford Oshawa sells Ford Fusion special edition for a price of $27 ...

[penguins]

Question 1

Sue won a "Millionaire Life" lottery. As a winner of the Grand Prize, she can choose either $1 million per year for 25 years or a single cash payment of $17 million. What option should be chosen if the payments are made at the beginning of each year and on low risk investments, money can earn 3.2% compounded annually?

Question 2

Ford Oshawa sells Ford Fusion special edition for a price of $27 900. During a month long promotion, the manufacturer offers an interest rate of 1.8% compounded monthly on a 3-year lease. If the residual value is $14 500, what will be the lease payment at the start of each month with a $2500 down payment?
◦ $403.82
◦ $724.30
◦ $332.50
◦ $311
◦ $350

[Kaytorgator]

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[penguins]

Excellent

[Kaytorgator]

Great! Please up vote