You went to the car dealer to lease a car.  The car is valued at $30,000 and you can drive away without putting any money down.  The dealer offers you a 5 year lease with a $5,000 residual payment at the end if you want to buy the car.  Assuming monthly payments of $508.32, what is the implied APR?   Your answer should be close to a round number.  Use a % symbol and round to the nearest 1 decimal point.....3.0% would be the form of a correct answer.

A car dealer will sell you a used car for $6798 with $798 down and payments of $162.51 per month for 47 month for 48 months. What is the simple interest rate ?

You want to buy a nice road bike. You place $2,400 each year in an investment account that earns 4% compounded annually. How much will be in the account after (a) two years, (b) three years, or (c) four years? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (EV of $1. PV of $1. EVA of $1, and PVA of $1) a. b. C Annuity Annual Interest Payment Rate Compounded $ 2,400 2,400 2,400 4% Annually 4% Annually 4% Annually Period: Invested 2 years 3 years 4 years Future Value of Annuity

You have purchased a guaranteed investment contract (GIC) from an insurance firm that promises to pay you a 5% compound rate of return per year for 6 years. If you pay $20,000 for the GIC today and receive no interest along the way, you will get __________ in 6 years (to the nearest dollar). (Round your answer to the nearest whole dollar).

Please Use an excel spreadsheet and show all of the steps to solve the following Please: You buy a house of $450,000 today. You put a down payment of 20% and borrow a fixed-rate mortgage of $360,000 with interest rate of 4% and 15 years. After 3 years, your house is appreciated to the value of $550,000 and market interest rate goes up to 6.5%. How much money will you make in book after 3 years?

Suppose that a car that you want costs $9000.  You make a down payment of $1000 and finance the rest for 4 years at 1.9% interest, compounded monthly.  If you make monthly payments for 4 years, what is the total amount of interest that you'll end up paying?  Round your answer to two decimal places if rounding is necessary.  The $ sign is already written next to the answer box, so do not type a $ sign in your answer.

You want to buy a $18,500 car. The company is offering a 3% interest rate for 4 years. a. What will your monthly payments be? Round to the nearest cent.

A car buyer can afford a monthly payment of $450 per month and has $7000 saved for a down payment. If financing is available at 3.2% interest for 72 months, then what would be the maximum car price they could afford? (You may round your answer to the nearest dollar.)

You want to purchase a car 4 years from now, and you plan to save $4,500 per year, beginning immediately. You will make 4 deposits in an account that pays 6.3% interest. Under these assumptions, how much will you have 4 years from today? (please round your answer to two decimal points)

Suppose you are in the market for a new car worth $18,000. You are offered a deal fo make a S1,800 down payment now and to pay the balance in equal end-of-month payments of $421.85 over a 48-month period. Consider the following situations:a.Instead of going through the dealer's financing, you want to make a down payment of $1,800 and take out an auto loan from a bank at 11.75% compounded monthly. What would be your monthly payment to pay off the loan in four years?b. If you were to accept the dealers offer, what would be the effective rate of interest per month charged by the dealer on your financing?