question 1 What’s the interest rate of a 5-year, annual $5,500 annuity with present value of...

Question

Question

question 1 What’s the interest rate of a 5-year, annual $5,500 annuity with present value of $22,500?

Quiestion 2

What annual interest rate would you need to earn if you wanted a $1,000 per month contribution to grow to $84,500 in six years?

Question 3 You wish to buy a $29,500 car. The dealer offers you a 4-year loan with a 10 percent APR. What are the monthly payments?

Question 4 How would the payment differ if you paid interest only?

please show steps

business finance

Answer 1

Answer #1

question 1

use financial calculator as

PV=-22500

PMT=5500

FV=0

N=5

Click CPT

Click I/Y=7.08% is the interest rate

the above is answer..

we do only one question based on Chegg rule

Answer 2

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