A new delivery van costs $20,000 and can be financed for 60 months with a $4,000 down payment. I.M.’s bank will finance the van at 5.5 percent compounded monthly, and you calculated his weighted average cost of capital at 8 percent. How do you figure out the monthly payment for the van?

You estimate your monthly gas and maintenance expenses for your delivery vehicles will be $1,500 a month for the next 7 years. Assuming an interest rate of 5%, what is the present value of these costs?

Your goal is to spend a year traveling around the world.  You assume that it will cost $100,000 to accomplish this goal and you have 10 years to save for it.  You presently have $10,000 to invest.  What annual rate of compounding interest must you earn on your investment to cover the cost of this trip?

You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit $36,000 at the end of each year for the next 8 years. You expect to earn 12 percent each year. Required: 1. Determine how much you will have saved after 8 years. 2. Determine the amount saved if you were able to deposit $38,000 each year. 3. Determine the amount saved if you deposit $36.000 each year, but with 14 percent interest. Complete this question by entering your answers in the tabs below. Required 1 Required 21 Required 3 Determine how much you will have saved after 8 years. Note: Round your final answer to the nearest whole dollar. Balance in the Savings Account. Required 2 >