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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Question
Transcribed Image Text:pls Add-ons Help
Last edit was 22 minutes ago
TURN IN
Amaranth
BIUA
8.
=。| 三|ニ=▼E▼EE
3 11 I
4
7.
0.75% County tax
2,389.89
County tax = subtotal x 0.0075
1.25% Chicago tax
298.736225
Chicago tax = subtotal x 0.0125
Documentary fees
Doc Fees = $166
Taxes & Fees Total (T&F Total)
T&F Total = Sates + County + Chicago + De
Total (Principal)
= Subtotal + T&F Total
Total
Loan term (n)
60 months
Annual Percentage Rate (APR)
6%
Monthly payment (MP)
Find the monthly payment here
Exit session
Transcribed Image Text:Monthly Cost of My Own Car
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Insert Format Tools Add-ons Help
Last edit was 22 minutes ago
TURN
D0%
Normal text
Amaranth
BIUA
三
E E
8
10
Part 2 - Finance your car
Obiective:
• Calculate your monthly car payment
Directions:
1. Get the price from the option that you chose in the table above
2. Complete the following table
3. Use the formulas on the left to find the amount of each row
Dealership Price
Get the price from the car you chose in
the table above
$10,988
20% Down payment
219,760
Down payment = Price x 0.20
Subtotal
4,395,200
Subtotal = price -
down payme
7.25% Sales tax
318,652
Sales tax = subtotal x 0.0725
Exit session
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