1 how much will you have at the end of 5 years in a, Ask an Expert

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1. How much will you have at the end of 5 years in a European vacation account if you deposit $200 a month in an account that is paying a nominal 12 percent per year, compounded monthly?

A. $15,247

B. $16,497

C. $16,334

D. $15,817

2. Jenny Genius wants to purchase a new car. She knows that she can afford to pay $250 per month and that her bank will charge her 8% interest on the car loan. She intends to pay off the car in five years. Interest will be compounded monthly. Of the following, which is the most expensive vehicle in her price range that she could consider?

A. A Malibu selling for $12,320

B. A Civic selling for $14,670

C. A Taurus selling for $11,900

D. A Celica selling for $17,500

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92653632

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