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Math of Finance | Annuity example with BA II plus calculator
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Dr. Kate Zhang, Professor at Humber College solving:
Annuity example with BA II plus calculator
Question 2: Josephine purchased a car by making a down payment of $9 000 and monthly payments of $650 at the end of every month for three years. If interest was 3.5% p.a. compounded monthly,
(a) what was the purchase price of the car?
(b) What is the total amount paid for interest?
Annuity example with BA II plus calculator
Question 2: Josephine purchased a car by making a down payment of $9 000 and monthly payments of $650 at the end of every month for three years. If interest was 3.5% p.a. compounded monthly,
(a) what was the purchase price of the car?
(b) What is the total amount paid for interest?
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