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Author Question: Randy bought an annuity to pay him $2700.00 at the end of every six months for twenty years. How ... (Read 139 times)

tiffannnnyyyyyy

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on: Jun 6, 2019

Question 1

An installment contract for the purchase of a computer requires payments of $30.00 at the end of each month for the next three years. Suppose interest is 18.00% p.a. compounded monthly.
a) What is the amount financed?
b) How much is the interest cost?

Question 2

Randy bought an annuity to pay him $2700.00 at the end of every six months for twenty years. How much of the total annuity payments is interest, if interest is 6.5% p.a. compounded semi-annually?
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by tiffannnnyyyyyy on Jun 6, 2019

tennis14576

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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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tiffannnnyyyyyy

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Reply 2 on: Jun 6, 2019
Great answer, keep it coming :)

samiel-sayed

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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