Derek decides to buy a new car. The dealership offers him a choice of paying $563.00 per month for 5 years (with the first payment due next month) or paying some $28,816.00 today. He can borrow money from his bank to buy the car. What interest rate makes him indifferent between the two options? Answer format: Percentage Round to: 3 decimal places (Example: 9.243%, \% sign required. Will accept decimal format rounded to 5 decimal piaces (ex: 0.09243)) Derek wants to withdraw $10,503.00 from his account 5.00 years from today and $12,930.00 from his account 14.00 years from today. He currently has \$2,926.00 in the account. How much must he deposit each year for the next 14.0 years? Assume a 6.29% interest rate. His account must equal zero by year 14.0 but may be negative prior to that. Answer format: Currency: Round fo: 2 decimal places: Derek currently has $14,792.00 in an account that pays 6.00%. He will withdraw $5,522.00 every other year beginning next year until he has taken 4.00 withdrawals. He will deposit 5147920 every other year beginning two years from today until he has made 4.0 deposils. How much will be in the account 29.00 years from today? Answer format: Currency: Round to 2 decimal places Derek can deposit $204.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 14.00\% and compounds interest monthly. Derek can deposit $2,536.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts after 10 years? Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, \% sign requared. Wil accept decimal format rounded to 6 decimal pisces (ex: 0.092434)) Derek can deposit \$204.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 14.00\% and compounds interest monthly. Derek can deposit $2,536.00 per year for the next 10 years into an account at Bank. B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts affer 10 years? Answer format: Percentage Round to: 4 decimal places (Example: 9.24349, 5 sign required. Wil accept decima/ format rounded to 6 decimal places (ex:0.092434))
