Answer to Question #73171 in Other Economics for Johny
2. 4.Kris borrows money in her senior year to buy a new car. The car dealership allows her to defer payments for 12 months, and Kris makes 36 end-of-month payments thereafter. If the original note(loan) is for $24,000 and interest is ½% per month on the unpaid balance, how much will Kris’ payments be?
3. How much money should be deposited each year for 10 years if you wish to withdraw $3,000 each year for five years, beginning at the end of 15th year? Let i=8% per year.
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