1 you want to buy b a new car from victoria motor for 48000, Ask an Expert

Finance

1. You want to buy b a new car from Victoria Motor for $48,000. The contract is in the form of 60-month annuity due at 7.45 % APR. What will be your monthly payment?

a. $10020.54

b. $895.55

c. $954.75

d. $665.95

2. You borrow $10,000 from your bank that charges you 1.5 % per year compounded monthly for the first six months, increasing thereafter to 18% compounded monthly. How much interest you owe at the end of the first year?

a. $1016.70

b. $995.50

c. $1954.25

d. $765.95

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92711404

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