Author Question: Sagheer is setting up a fund to help his grandson's university education. He wants his grandson to ... (Read 130 times)

wenmo · **on:** Jun 6, 2019

Question 1

Whitby Honda advertised Honda Pilot for sale at $33 610. The same vehicle could also be leased for 5 years at $379 per month, based on $4310 down payment and a residual value of $10 711. What monthly compounded interest rate was built into the lease?
◦ 4.13%
◦ 0.38%
◦ 4.05%
◦ 0.9%
◦ 7.45%

Question 2

Sagheer is setting up a fund to help his grandson's university education. He wants his grandson to be able to withdraw $3000 every 3 months for 3 years after he starts university. His first withdrawal will be 5

years from now. If the fund can earn 7.2% compounded quarterly, what single amount contributed today will provide for the withdrawal?
◦ $36 000
◦ $42 041
◦ $52 077
◦ $22 083
◦ $32 119

emsimon14 · **Reply #1 on:** Jun 6, 2019

A FREE account is required to view all solutions!

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.

Answer Preview

Only 50% of students answer this correctly