Suppose that a certain car has the following average operating and ownership costs. Average Costs per Mile Operating-$0.24 Ownerships-$0.72 Total-$0.96 a. If you drive 30,000 miles per year, what is total annual expense for this car? b. If the total annual expense for this car is deposited at the end of each year into an IRA paying 7.8% compounded yearly, how much will be saved at the end of eight years?

Q: How much must you deposit today into each of the following accounts in order to have $25,000 in 8…

A: Given the amount in the account after 8 years is $25,000.Also given that the amount compounded daily…

Q: Find the present value of $20,000 due in eight years at the given rate of interest 4.5% year…

A:

Q: Find the capital value of an office building for which annual rent of $50,000 will be paid in…

A: we have to find the capital value of an office building for which annual rent of $50,000 will be…

Q: Mary wants to accumulate $42,000 in a fund with payments of $2,100 made at the end of every quarter.…

A: We know that the formula is A=P1+rnnt where A=total amount,P=initial principal amount,r=rate of…

Q: Jill borrowed $13,000 at 5.5% p.a. compounded semi-annually. If the loan is to be repaid in equal…

A:

Q: You would like to have $6,000 in four years for a special vacation following graduation bymaking…

A: Future Value of an Ordinary Annuity FormulaThe future value ( FV ) of an ordinary annuity formula,…

Q: Assume that you make a quarterly payment of $750 into an annuity paying 9% interest compound…

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Q: Diana secured a 6-year car lease at 5.60% compounded annually that required her to make payments of…

A: Rate of interest 5.60 % p. a.Monthly payment, PMT $881.65Downpaymsnt $1500

Q: . Key has set up a fund in order to have $20,000 in 18 years for his children’s college education.…

A:

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A: First we need to find the future value or the total amount paid by Tara. Then we can find the…

Q: For a loan of $14,000 at 4.00% paid monthly over 60 months, how much principal is paid off half-way…

A: It is given thatLoan amount=$14,000Rate of interest per month=4%Time=60months 5yearsTo find:1…

Q: A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can the homeowner…

A: Given that  A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can…

Q: For 16 years, Janet saved $250 at the beginning of every month in a fund th 5.75% compounded…

A:

Q: You borrow $2,000 from Gougo's , a well-known loan consolidation outfit . The loan is an…

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Q: Find the amount of an annuity due that consists of 13 monthly payments of $150,provided that the…

A: Given R=$150 n=13r =6%=0.06 To find the amount of an annuity due

Q: Determine the amount owed if $5000 is borrowed for 4 years at 8.7% compounded quarterly.

A: If $5000 is borrowed at 8.7% compounded quarterly, we need to find the amount owed after 4 years.…

Q: ind the presenr value of an annuity, where theelpavinents are $1520 per month over 6 years, at an…

A: By using formulaes for present value we solve the given problem as follows :

Q: given the current interest rate of 6% compounded annually.find the present value of $10000 to paid…

A: Given Amount (A) = 10000 Interest rate (r) = 6 We know that A = P1+r100n , where n is the time For…