2 1. A automobile was purchased on a 60-monthinstallment plan with a $10,000 monthlypayment. Calculate the car's cash price ifinterest is compounded annually at 12.03%.2. A steel factory forecasts that one of itsfurnaces will require 20,000 dollars inmaintenance after two years, 40,000 dollarsafter four years, and 80,000 dollars after eightyears. What consistent semi-annual amountsmight it set aside at the end of each period forthe next eight years to fulfill these maintenanceexpense requirements if all funds earnedinterest at a rate of 6.02% compounded semi-annually?NEED ASAP.

(1) Monthly Installment (Annuity)= $10,000 n = 60 months interest rate = 12.03%12=1.0025%

Answered: 1. A automobile was purchased on a…

1. A automobile was purchased on a 60-month installment plan with a $10,000 monthly payment. Calculate the car's cash price if interest is compounded annually at 12.03%.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. If the tenants have the right to be free of loud music enforced through aproperty rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. ZeroB. OneC. TwoD. ThreeE. It depends on transaction costs
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