Question
1) Suppose you plan to work right after you graduate, but still save money for grad school. You decide to save $18,000 before starting and
1) Suppose you plan to work right after you graduate, but still save money for grad school. You decide to save $18,000 before starting and find a weekly annuity that pays 13% interest for 4 years. How much will you need to pay each week? Round to the nearest cent.
2) the Massive Chemical Corporation starts an annuity to pay for the huge government penalties they expect in 9 years when a pending case finally gets litigated. Their lead attorney informs them that they can expect an $8,000,000 fine. An investment house offers 8.5% interest on annuities of that size, compounded semiannually. What will the semiannual payment be on this annuity? Round to the nearest cent.
3) Mary Scherer purchased a wristwatch for $780.00. She made a down payment of $100.00 and financed the rest with ten monthly payments of $168.75. Find the total installment price.
4) Mary Lee purchased a stove for $380. She made a down payment of $57and paid $43 a month for 8 months. Find the total installment price of the stove.
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