Problem 1

John wants to buy a new gas Barbeque. The cost is $659.98. He will have to pay for it with 10% down and 5 equal annual payments that include interest at 10%. Calculate the payments. Amortize the payments.

Problem 2

You, on the other hand, want a new Jeep. The cost is $29,000. You pay 5% down and the rest in five equal annual payments which include interest at 8%. Calculate the payments. Amortize the payments.

Problem 3

Megan has just purchased a new goat. The cost was $1,000. She paid 10% down and will pay the rest in 4 equal annual installments which include interest at 6%. Calculate her payments and prepare an amortization schedule.

Problem 4

You want to buy a bus. The cost is $69,000 down and the rest in five equal annual payments which include interest at 8%. Calculate the payments. Amortize the payments.