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Derek decides to buy a new car. The dealership offers him a choice of paying $576.00 per month for 5 years (with the first payment
Derek decides to buy a new car. The dealership offers him a choice of paying $576.00 per month for 5 years (with the first payment due next month) or paying some $28,861.00 today. He can borrow money from his bank to buy the car, What interest rate makes him indifferent between the two options? Submit Atten Answer format: Porcentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex: 0.09243) 12 Derek wants to withdraw $12,196.00 from his account 7.00 years from today and $13,952.00 from his account 11.00 years from today. He currently has $2.786.00 in the account. How much must he deposit each year for the next 11.0 years? Assume a 6.51% Interest rate. His account must equal zero by year 11,0 but may be negative prior to that. Atter Answer format: Currency: Round to: 2 decimal places. Derek currently has $11,810.00 in an account that pays 6.00%. He wil withdraw $5,369.00 every other year beginning next year until he has taken 6.00 withdrawals. He will deposit $11810.0 every other year beginning two years from today until he has made 6.0 deposits. How much will be in the account 24.00 years from today? Submit Attem Answer format: Currency: Round to: 2 decimal places
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