Question 1 what is the possible amount youd have to invest, Ask an Expert

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Question: 1. What is the possible amount you'd have to invest in a savings account at the beginning of each year to have $40,000 at the end of 8 years?

2. You calculated an ordinary annuity with n=5 and payments = $2,000 to have a present value of $10,000. You must have made an error and used a discount rate of:

a)2%

b)5%

c)0%

d)10%

3. You buy a car for $50,000, and your first monthly payment reduces the principal balance of your loan to $49,245.84. What is the possible amount of the principal reduction that takes place as a result of your second monthly payment?

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Category:- Basic Finance
Reference No.:- M92764798

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