Quarterly payments of $1445 are to be made at the beginning of every three months on a

Question:

Quarterly payments of $1445 are to be made at the beginning of every three months on a lease valued at $25 000. What should the term of the lease be if money is worth 8% compounded quarterly?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

See More Books

Question Posted: Feb 26, 2016 04:02 AM

See More Questions

Payments on a five-year lease valued at $37 750 are to be made at the beginning of every six months. If interest is 9% compounded semi-annually, what is the size of the semi-annual payments?
The Lancer Leasing Company has agreed to lease a hydraulic trencher to the Chavez Excavation Company for $20,000 a year over the next eight years. Lease payments are to be made at the beginning of...
Repeat Problem 29, with the change that the sinking fund payments are to be made at the end of every quarter. In Problem 29 A sinking fund is to be set up to provide for the repayment of 80% of the...
8 for 0 < < 6 for 6
A small hair salon in Denver, Colorado, averages about 30 customers on weekdays with a standard deviation of 6. It is safe to assume that the underlying distribution is normal. In an attempt to...
The tied three-hinged arch is subjected to the loading shown. Determine the components of reaction at A and C and the tension in the cable. 15 kN 10 kN 2 m -1 m-| -2 m -2 m- 0.5 m
Assign one or more levels of the Maslow hierarchy of needs described in Figure 55 to the following products: (a) life insurance, (b) cosmetics, (c) The Wall Street Journal, and (d) hamburgers.
Using information regarding industry advertising-to-sales ratios (see company.news-record.com/advertising/advertising/ratio.html), recommend percentages of sales that advertisers in the following...
Paloma Co, has four employees. FICA Social Security taxes are 6.2% of the first $128.400 paid to each employee and FICA Medicare taxes are 1.45% of gross pay. Also, for the first $7000 paid to each...
In a LAN with a link-layer switch (Figure 1.8b), Host 1 wants to send a message to Host 3. Since communication is through the link-layer switch, does the switch need to have an address? Explain....
If you save $75 at the beginning of every month for 10 years, for how long can you withdraw $260 at the beginning of each month, starting 10 years from now, assuming that interest is 6% compounded...
What nominal annual rate of interest compounded quarterly was paid if contributions of $250 made into an RRSP at the beginning of every 3 months amounted to $14 559 after 10 years?
Your firm has been engaged to examine the financial statements of Brown Appliances, Inc. for the year ended December 31. The company manufactures major appliances sold to the general public through...
Based on the expense information below how do I figure out the break even, total fixed costs, total income for each procedure, variable costs dependent upon volume? The organization is purchasing a...
Compare training formats. Do you personally prefer classroom training, small group sessions, one-to-one training, or self-guided tutorials? Why? Are there circumstances in which you feel a one-to-one...
what ways do you feel a sense of identity and belonging within the organization's community, and how does that influence your performance and engagement?
How do different generational cohorts within the workforce perceive and contribute to organizational culture, and what steps can organizations take to create a cohesive culture that bridges...
How do various tools and techniques such as adding slack (padding estimates) or project buffers help project managers perform duration estimates? What are some ethical considerations when using slack...
A customer discovers 60% of the total merchandise delivered from a retailer is damaged. The original purchase for all merchandise was $3,600. The customer decides to return 35% of the damaged...
A genetically engineered strain of Escherichia coli (E. coli) is used to synthesize human insulin for people suffering from type I diabetes mellitus. In the following simplified reaction scheme,...
Some companies use revenue per employee as a simple and easy-to-understand productivity measure of its employees. ( l ) Why would revenue per employee represent a useful measure of employee...
In Problem, write each system as a matrix equation and solve using inverses. 2x1, + x2 = k1 5x1 + 3x2 = k2 (A) k1 = 2, k2 = 13 (B) k1 = 2, k2 = 4 (C) k1 = 1, k2 = -3
In Problem, write each system as a matrix equation and solve using inverses. 2x1, + x2 = k1 x1 + x2 = k2 (A) k1 = 1, k2 = -2 (B) k1 = 2, k2 = 3 (C) k1 = 2, k2 = 0
In Problem, write each system as a matrix equation and solve using inverses. 2x, + 3x2 = k1 x1 + 2x2 + 3x3 = k2 -x2 - 5x3 = k3 (A) k1, = 0,k2 = 2, k3 = 1 (B) k1 = -2, k2 = 0, k3=1 (C) k1 = 3,k2 = l,...
A government bond matures in 30 years, makes semi-annual coupon payments of 6.0% ($120 per year) and offers a yield of 3.7% annually compounded. Assume face value is $1,000. Three years later the...
Your objective is: 1. Carry out a life insurance needs analysis, for each one of them (show your calculations) [30 Marks] 2. Refer to the case and the insurance plan quotes. Would you recommend...
TufStuff, Incorporated, sells a wide range of drums, bins, boxes, and other containers that are used in the chemical industry. One of the company s products is a heavy - duty corrosion - resistant...

Quarterly payments of $1445 are to be made at the beginning of every three months on a

Question:

Step by Step Answer:

PV due 25 00000 PMT 144500 i 2 16961802 1 102 n 002 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions