Linda Baer has already saved $4,902 to buy a used vehicle. Ignoring taxes and assuming her money is invested in amoney market account earning 4 percent compounded annually, how long will it take to buy a car that costs $6,709?Click on the table icon to view the FVIF table:NWAIgnoring taxes and assuming her money is invested in a money market account earning 4% compounded annually, tosave the money to buy a car that costs $6,709 will takeyears. (Round to the nearest integer.)16 16 16 162016ENEMAN1625100000150 15

Present value = $4,902Future value = $6,709Interest rate = 4%

Linda Baer has already saved $4,902 to buy a used vehicle. Ignoring taxes and assuming her money is invested in a money market account earning 4 percent compounded annually, how long will it take to buy a car that costs $6,7092 Click on the table icon to view the FVIF table: gnoring taxes and assuming her money is invested in a money market account earning 4% compounded annually, save the money to buy a car that costs $6,709 will take years. (Round to the nearest integer.)

Linda Baer has already saved $4,902 to buy a used vehicle. Ignoring taxes and assuming her money is invested in a money market account earning 4 percent compounded annually, how long will it take to buy a car that costs $6,7092 Click on the table icon to view the FVIF table: gnoring taxes and assuming her money is invested in a money market account earning 4% compounded annually, save the money to buy a car that costs $6,709 will take years. (Round to the nearest integer.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Jana has $2.000 saved but doesn’t want to spend it on a down payment. She wants to keep it in her emergency fund, in savings. She wants to buy a car and thinks she can afford monthly payments of $300. If she can finance a vehicle with a 6%, 5-year loan from a credit society, what is the maximum loan amount Jana can afford? (Round to the nearest dollar.) Question 31 options: $12,528 $14,218 $15,518 $16,218 $18,028
Solve this finance Not use excel 1. Mary Smith took a car loan of $20,000 to make 60 equal monthly payments. The interest compounds monthly. (a) Calculate the monthly payment for Mary, if the nominal interest is 9% per year.(b) (How much interest would Mary pay for taking the loan? (c) Immediately after making the 20th payment, if she wants to pay off the car loan, how much does she need to pay?
You are buying a car for $16,995; you are going to put down $6,500; balance to finance: $10,495 in 84 payments at 3.95% APR. Calculate how much you will ultimately pay for the unit?
If I'm buying a car and I can only afford up to 600 for my monthly car payments but the dealer is charging a 6.9 interest loan for 7 years what would be the largest loan amount that I could take out to buy a car
A friend of yours just bought a new sports car with a $5,000 down payment,and her $30,000 car loan is financed at an interest rate of 0.75% per month for 48 months. After two years, the “Blue Book” value of her vehicle in the used-car marketplace is $15,000. Solve, a. How much does your friend still owe on the car loan immediately after she makes her 24th payment? b. Compare your answer to Part (a) to $15,000. This situation is called being “upside down.” What can she do about it? Discuss your idea(s) with your instructor.
Do the task with the excel or manually if possible,thx If a family who owns a food stall is planning to buy a car in the next 3 years for $13920,89. The family is able to set aside 20% of their income from $1392,09/month by saving (1% bank interest/month). Is that money enough to buy a car? If not, how much should the family add?
Ginny, who lives in Houston, is trying to decide between the following car models: Brand and Model Chevy Sonic Toyota Camry Ford Escape Hybrid Dodge 1500 Pickup Cost $14,255 17,950 30,570 37,590 She's currently accumulated a down payment of $5,000 and she has determined that she can afford maximum payments of $375 per month. Her initial research on the current cost of auto loans has found that her lowest cost loan would be made by a bank and would require an interest rate of 6% for five years. Given this information, the maximum amount that Ginny can afford to pay for her new car is can afford to purchase, without stretching her budget, is: OOO The Chevy Sonic The Toyota Camry The Dodge 1500 Pickup The Ford Escape Hybrid I and the most expensive car that she
Vincent has chosen to buy a new car with a cost of $14 000, inclusive of HST. He has saved $5000 for a down payment. How much must be financed? Enter a numeric value only, rounded to 2 decimals places. An answer of $100 should be entered as 100.00.
Trae needs to buy a car, but he doesn’t have any money for a down-payment and can only afford $190 per month for this car payment. If he can finance a car at 5.50% for 4 years, how much car can he afford? N= FV= I%= P/Y= PV= C/Y= PMT= End or Begin $170.00 $220.73 $11,555.84 $8,169.77
A 110. Subject:- finance
Answer the question below
The bike you have been saving for is discounted 20%. You have $400 saved to purchase it. The retail price of the bike is $450. There is a 5.25% sales tax added to the price of the bike. What is the final price of the bike including all discounts and sales tax? Do you have enough money saved to purchase it?

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