Moulton Motors is advertising the following deal on a new Honda Civic: "Monthly payments of

$422.64

for the next

60

months and this beauty can be yours!" The sticker price of the car is

$19,000.

If you bought the car, what interest rate would you be paying in both APR and EAR terms? What is the amortization schedule of the first six payments?

Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $40 at the end of each quarter from his paper route collections. Matt is 11 years old and will use the money when he goes to college in 7 years. What will be the value of Matt's account in 7 years with his quarterly payments if he is earning 4% (APR), 10.5% (APR), or 12% (APR)? Present value with periodic rates. Cooley Landscaping needs to borrow $25,000 for a new front-end dirt loader. The bank is willing to loan the money at 9% interest for the next 8 years with annual, semiannual, quarterly, or monthly payments. What are the different payments that Cooley Landscaping could choose for these different payment plans? Amortization schedule with periodic payments. Moulton Motors is advertising the following deal on a new Honda Civic: "Monthly payments of $422.64 for the next 60 months and this beauty can be yours!" The sticker price of the car is $19,000. If you bought the car, what interest rate would you be paying in both APR and EAR terms? What is the amortization schedule of the first six payments