Question
Gabriel is leasing a new car. The lease contract requires payments of $300 at the beginning of every month and includes an interest rate of
Gabriel is leasing a new car. The lease contract requires payments of $300 at the beginning of every month and includes an interest rate of 2.95% compounded quarterly for 3 years.
a. What type of annuity is this?
Ordinary simple annuity
Ordinary general annuity
Simple annuity due
General annuity due
b. How many payments are there in this annuity?
Answer:
payments
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Machine Learning In Finance From Theory To Practice
Authors: Matthew F Dixon, Igor Halperin, Paul Bilokon
1st Edition
3030410676, 978-3030410674
