What will your monthly payment be
You want to buy a new sports car from Muscle Motors for $86,000. The contract is in the form of a 72-month annuity due at a 7.65 percent APR. What will your monthly payment be?
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You are supposed to make three payments, $550 in 4 months, $780 in 11 months, and $300 in 20 months. If you want to discharge your debt in 15 months with a single payment and the interest rate is 9% compounded monthly, what would the single paymen
Find the mean and standard deviation of the resulting distribution of sample means for n = 121.
A small business owner visits his bank to ask for a loan. The owner states that she can repay a loan at $1,250 per month for the next 3 years and then $500 per month for two years after that.
Lily estimates that her time to fall asleep each night is approximately exponentially distributed. It takes her an average of 30 minutes to fall asleep.
Steve and his friends are relaxing at a local tavern. The number of drinks that Steve's table receives is Poisson distributed with an average of 9 drinks per 3 hours. Write out the distribution and parameters you are using in each part below.
If you start making $115 monthly contributions today and continue them for 6 years, what is their present value if the compounding rate is 12% APR? What is the present value of this annuity?
Say that you purchase a house for $150,000 by getting a mortgage for $135,000 and paying a $15,000 down payment. Assume you get a 15-year mortgage with a 6% interest rate.
Curry Corporation is setting the terms on a new issue of bonds with warrants. The bonds will have a 30-year maturity and annual interest payments.
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