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Down Payment Assignment | Homework For You

Author:
June 8th, 2020
6. Susan would like to purchase a new luxury car that sells for $70,000. She plans to take out a five-year loan at a rate of 4.75% APR. The most Susan can afford for monthly payments is $1,200. How much of a down payment does Susan need? (5 pts)Homework For You
7. You can make the following cash flows into a savings account: $1,000 now, $2,000 at the end of year 1, $3,000 at the end of year 2, and $4,000 at the end of year 3. If your savings will earn 6 percent interest per year and is compounded quarterly, how much will you have in your account at the end of year 3? (5 pts)Get Finance homework help today

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