6.You purchase a car costing $35,000, and you finance it through a 6 year loan at 5% interest. amortization schedule for the first 6 months of car payments.

Mo.

Payment

Interest

Principal

Principal Balance

1

2

3

4

5

6

7.What is the future value of a 6-year ordinary annuity of $1500 if the appropriate interest rate is 8%?What is the present value of the annuity?What would the future and present values be if the annuity were an annuity due?

FV=

PV=

FVdue=

PVdue=