Janice has decided to lease a new computer system. The computer sells for $2,094. She plans to pay off the lease over two years with monthly payments. Calculate the size of the lease payments if the lease charges 8.4% compounded monthly. Your Answer: Answer
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- Suppose you are a property owner and you are collecting rent for an apartment. The tenant has signed a one-year lease with $600 a month rent, payable in advance. Find the present value of the lease contract if the discount rate is 12% per year.Annuity due. Reginald is about to lease an apartment for 12 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,500 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $17,143. What is the implied monthly discount rate for the rent? If Reg is earning 1.4% on his savings monthly, should he pay by month or make the one-time payment? What is the implied monthly discount rate for the rent? nothing% (Round to two decimal places.)Annuity due. Reginald is about to lease an apartment for 24 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,000 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $22,176. What is the implied monthly discount rate for the rent? If Reg is earning 0.5% on his savings monthly, should he pay by month or make the one-time payment?
- Annuity due. Reginald is about to lease an apartment for 30 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,300 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $33,886. What is the implied monthly discount rate for the rent? If Reg is earning 1.5% on his savings monthly, should he pay by month or make the one-time payment? What is the implied monthly discount rate for the rent? % (Round to two decimal places.)Nevaeh is leasing a car originally valued at $33,630. The lease is being financed with an interest rate of 6.97% compounded monthly with beginning of month payments of $621. (a) How many payments will Nevaeh have to make to repay the original value? payment(s) (b) How long, in months, will it take Nevaeh to pay off the lease? (Hint: In an annuity due, payments are made at the beginning of each period.) month(s)You plan to purchase a $240,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 8 percent. You will make a down payment of 10 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b Construct the amortization schedule for the first six payments.
- Reginald is about to lease an apartment for 12 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,300 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $15,180. What is the implied monthly discount rate for the rent? If Reg is earning 0.3% on his savings monthly, should he pay by month or make the one-time payment? What is the implied monthly discount rate for the rent?Your friend tells you he has a very simple trick for taking one-third of the time it takes to repay your mortgage: Use your holiday bonus to make an extra payment on January 1 of each year (that is, pay your monthly payment due on that day twice). Assume that the mortgage has an original balance of $100,000, has an original term of 30 years, and has an APR of 12.0%. a. If you take out your mortgage on January 1 (so that your first payment is due on February 1), and you make your first extra payment at the end of the first year, in what year will you finish repaying your mortgage? b. If you take out your mortgage on July 1 (so that the first payment is on August 1), and you make the extra payment each January, in how many months will you pay off your mortgage? c. How will the amount of time it takes to pay off the loan given this strategy vary with the interest rate on the loan? Note: Make sure to round all intermediate calculations to at least 6 decimal places. ... a. If you take out…An office equipment representative has a machine for sale or lease. If you buy the machine, the cost is $7,590. If you lease the machine, you will have to sign a noncancelable lease and make 5 payments of $2,000 each. The first payment will be paid on the first day of the lease. At the time of the last payment, you will receive title to the machine. The present value of an ordinary annuity of $1 is as follows:
- You are leasing some furniture for your apartment. The monthly lease is for $395/month, payable at the beginning of the month. If your personal cost of capital is a 3% nominal annual rate, what is the present value of a one-year lease?Please help me with parts a and b THANK YOUUUUU!Annuity due. Reginald is about to lease an apartment for 36 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,400 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $46,250 What is the implied monthly discount rate for the rent? If Reg is earning 1.0% on his savings monthly, should he pay by month or make the one-time payment? 1 What is the implied monthly discount rate for the rent? % (Round to two decimal places.) COOR