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Author Question: Leons has a promotion on a refrigerator selling for $1750. Buyers will pay "no money down and no ... (Read 60 times)

arivle123

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on: Jun 6, 2019

Question 1

Basim purchased a deferred annuity from an insurance company for $10 971. The money used to purchase the annuity will earn 6% quarterly. The annuity will provide 16 quarterly payments of $1000. If the first payment is to be received on October 1, 2017, when did Basim purchase the deferred annuity?
◦ April 1, 2011
◦ April 1, 2013
◦ October 1, 2013
◦ June 1, 2014
◦ October 1, 2017

Question 2

Leons has a promotion on a refrigerator selling for $1750. Buyers will pay "no money down and no payments for six months." The first of 12 equal monthly payments is required 6 months from the purchase date. What should the monthly payments be if Leons is to earn 15% compounded monthly on its account receivable during both the deferred period and repayment period?
◦ $168.07
◦ $182.24
◦ $1885.42
◦ $1862.14
◦ $170.17
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by arivle123 on Jun 6, 2019

bimper21

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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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arivle123

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Reply #2 on: Jun 6, 2019
Excellent


bimper21

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Reply #3 on: Jun 6, 2019
Great! Please up vote :D


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