Reference no: EM131060315
Question 1. You hit the jackpot! You are lucky enough to have enough cash to afford a 2015 Bentley Flying Spur V8!!! The MSRP on the vehicle is a mere $214,295. Your credit is good, so you will get the best interest rate available which is 3.16 on a 5 year loan and 2.19 on a 3 year loan.
a. How much is your monthly payment if you finance all of the amount over 60 months if you live in NJ at a sales tax rate of 7% (remember that you have to pay sales tax for items we buy)
b. How much are you paying for this $214,295 car at the end of 60 months? (hint: add the $214,295 + the total interest + sales tax - to do that take the payment times 60)
c. How much is your monthly payment if you finance over 36 months?
d. How much are you paying for this $214,295car at the end of 36 months?
Question 2.
Now you realize that you may not want an expensive car payment after all. You see the same Bentley Flying Spur V8 leased in the 5/26/15 Philadelphia Inquirer for only $2,477 a month. This great payment requires you to put $5,000 down and the lease runs for 36 months. Total payments will be $91,718.25. You must also pay $379 for a documentation fee but your $5,000 down payment does indeed include the bank fees or $995 and a $1,527.33 cap cost reduction plus of course the $2,477 first month payment. If you want to purchase the car at the end it has a residual of $117,862.25. And as a side note, the amount of miles you can drive this car is 2500 a year, any miles over are $1.50 a mile (see the advertisement above if you can read the fine print) (5 points total)
a. The money factor is .00076. To get an interest rate this factor is multiplied by 2400. What is the interest rate?
b. How much is your cost - total cost - to ‘borrow' this car for 36 months
c. Look at the data from a website and analyze - which is better, to buy or lease the car (use the calculator buy vs. lease). WHY???
3. What did you learn from the Cars week that you can apply either now or in your future when thinking of transportation requirements?
|
Find out the capital spending program
: The firm estimates its annual profit of $100,000 would increase by fifty percent when the capital program is completed. Assuming the firm has a 20-year life and the appropriate interest rate is 12 percent, should the capital spending program be im..
|
|
How you can best apply the topics to choose your business
: Write 600 words, 200 words each topic with 2 references, we need to write on this just simple like a essay explaining how you can best apply the topics to choose your business achievable sustainable success. Topics are - Job design, Leadership appr..
|
|
Representation of different subject areas
: Identify ways in which critical thinking skills and quality questioning can be incorporated into classroom expectations on your campus.
|
|
How far along the path to modernity and peaceful
: Is the government honest or corrupt, is the public sector of the nation supportive of market institutions? How far along the path to modernity and peaceful and free civilization are they?
|
|
How much is your monthly payment
: How much is your monthly payment if you finance all of the amount over 60 months if you live in NJ at a sales tax rate of 7% - How much is your monthly payment if you finance over 36 months?
|
|
Humans often face incredible odds
: Colson Whitehead's Zone One differs from most survival narratives in that the story takes a much more realistic (and often brutal) look at contemporary catastrophe and our bleak odds at survival:
|
|
What emotional or value appeals will you make
: What is your major premise, your minor premise, and your conclusion? (even if you do not present this in your speech, it is important to know your own logic that leads you to your position)
|
|
How many tables and which ones were ?ipped exactly twice
: How did you store the data for this homework? Think about how you store the information helps you to answer the question. How many tables, and which ones, were ?ipped exactly twice?
|
|
Importance of a performance appraisal within a business
: Please tutors use your own works no plagiarism should be detected on this questions because the school system is very strict. Kindly do not post a plagiarized answer please. 1. What are the importance of a performance appraisal within a business. 2..
|