Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. question 6 five years from now, you want to spend

QUESTION 6 Five years from now, you want to spend $75,000 for a fancy car....

60.1K

Verified Solution

Question

Finance

image

QUESTION 6 Five years from now, you want to spend $75,000 for a fancy car. How much must you deposit each month to achieve this goal, if you can earn an interes rate of 796 compounded monthly? O $1,485.09 $1047.59 0 $1,350.00 O $1,250.00 QUESTION 7 David purchased a car for $35.000. David paid a down payment of 1096 in cash and financed the balance. The loan terms require monthly payments for 5 years at an APR of 3.50%, compounded monthly. What is the amount of each monthly payment? $573.04 $673.04 $1.151.11

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Factor the polynomial completely. Enter the factored form without any spaces. Write any monomial factors...

Calculus
Q

Inorganic Chem: Please show neat, well explained answer Homogeneous Catalysis Explain why Rh(PPh3)3Cl rapidly undergoes oxidative addition reactions. There is...

Chemistry
Q

Carbon dioxide is primarily carried throughout the body... Select one: a. By dissolving into plasma b. By binding...

Medical Sciences
Q

Apply what you learned about how organum developed then choose the correct answerMonks added a...

Biology
Q

A 230V D C shunt motor has an armature resistance of 0 502 and Rsh...

Physics
Q

A solid conducting sphere of radius a having a charge q is surrounded by a...

Physics
Q

In which of the following cases frictional force is impulsive A C 0 0 M...

Physics
Q

Fill in the blanks by converting between percents decimals and fractions give exact answers with...

Statistics
Q

Question 10 1 pts Dried Fruit Corp. has had a valid S Corp election in...

Accounting
Q

why it is necessary to use these inputs when developing the project communications management plan....

Accounting
Q

Solvency RatioSolvency Ratio = = / / ...

Finance
Q

Mike and Ellen Evans decide to part in April. Mike moves into an apartment two...

Accounting