Lesson 4 Apr 8 2010
- 1. Dave油needs油a油new油computer油for油university.油The油purchase油price油is油 $3294.00油before油tax油with油a油$0油down油payment.油Financing油is油available油 at油18.99%,油compounded油monthly.油GST油is油5%油and油PST油is油7%. Calculate油the油monthly油payment油to油purchase油this油computer油over油 48油months.油What油is油the油total油amount油paid油for油the油computer? What油are油the油monthly油payments油and油total油paid油if油the油computer油is油 financed油for油36油months? HOMEWORK What油about油24油months? N=48 N=36 N=24 I%=18.99 I%=18.99 I%=18.99 PV=3689.28 PV=3689.28 PV=3689.28 PMT=足110.29 PMT=足135.22 PMT=足185.95 FV=0 FV=0 FV=0 P/Y=12 P/Y=12 P/Y=12 C/Y=12 C/Y=12 C/Y=12 PMT:油END油油油BEGIN PMT:油END油油油BEGIN PMT:油END油油油BEGIN
- 15. Leasing油continued油... When油you油lease油a油vehicle,油you油need油to油sign油a油lease油agreement.油This油 agreement油specifies: ¬the油initial油value油of油the油item ¬the油buy油out油price油at油the油end油of油the油lease油(the油residual油value) ¬the油down油payment油(if油there油is油one) ¬any油additional油fees ¬the油interest油rate ¬the油monthly油payment. The油lease油agreement油will油also油specify油other油terms油or油restrictions,油 such油as油what油is油reasonable油use油and油care油of油the油item.油For油 example,油a油car油lease油will油specify油how油many油kilometres油you油can油 drive,油and油the油fee油per油kilometre油if油you油exceed油this油limit.