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How much should you now deposit monthly

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You need $5100 in 3 years. How much should you deposit each month in an in an ordinary annuity account that pays 8% in order to achieve your goal? Now suppose you decide to make a deposit at the beginning of each month instead, how much should you now deposit monthly?

An item costs $17,000 and will last 8 years. It can be leased for $250 per month for 5years with a cash down payment of $2850. The interest rate is 8.19%, is it cheaper to lease or to buy?

Reference no: EM131073730

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