Reference no: EM132429265

Questions -

1) Don James purchased a new automobile for $15,000. Don made a cash down payment of $3,750 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

How do calculate the amount of the required monthly payment.

2) How do calculate the future value of the following single amounts (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) (Round your final answers to nearest whole dollar amount):

1) Invested Amount= $ 12,000, i= 8%, n= 16, Future Value =

2) Invested Amount = $ 16,000, i=5%, n=15, Future Value=

3) Invested Amount= $29, 000, i= 11%, n= 12, Future Value=

4) Invested Amount= $ 49,000, i= 4%, n= 7, Future Value=