question 2)

Amortization schedule with periodic payments. Moulton Motors is advertising the following deal on a new Honda Civic: "Monthly payments of

$456.53 for the next48 months and this beauty can be yours!" The sticker price of the car is$18,000.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?

If you bought the car, what monthly interest rate would you be paying?

nothing%

(Round to four decimal places.)

question 3

Amortization schedule with periodic

payments. Moulton Motors is advertising the following deal on a used Honda Accord: "Monthly payments of

$213.88 for the next 60 months and this beauty can be yours!" The sticker price of the car is $9,400.

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?

If you bought the car, what monthly interest rate would you be paying?

Future value with periodic rates. Matt Johnson delivers newspapers and is putting away $18 at the end of each month from his paper route collections. Matt is 13 years old and will use the money when he goes to college in 5 years. What will be the value of Matt's account in 5 years with his monthly payments if he is earning 6% (APR), 10% (APR), or 15% (APR)? What will be the value of Matt's account in 5 years with his monthly payments if he is earning 6% (APR)