Questions from Business Mathematics

Q: Evaluate values of the variables. Calculate the result accurate to the

Evaluate values of the variables. Calculate the result accurate to the nearest cent. 3d2 – 4d + $15 for d = $2.50

Q: Wendy will soon turn 33. She wants to accumulate $500

Wendy will soon turn 33. She wants to accumulate $500,000 in an RRSP by her 60th birthday. How much larger will her annual contributions have to be if they are made at the end of each year (from age 3...

Q: CompuLease leases computers and peripheral equipment to businesses. What lease payments

CompuLease leases computers and peripheral equipment to businesses. What lease payments must CompuLease charge at the beginning of each quarter of a five-year lease if it is to recover the $20,000 cap...

Q: Island Water Taxi has decided to lease another boat for five years

Island Water Taxi has decided to lease another boat for five years rather than finance the purchase of the boat at an interest rate of 7.5% compounded monthly. It has set up a long-term lease liabilit...

Q: What beginning-of-month withdrawals can a $400,

What beginning-of-month withdrawals can a $400,000 RRIF (Registered Retirement Income Fund) sustain for 20 years if the investments within the RRIF earn: 1. 3% compounded monthly? 2. 4.5% compounded m...

Q: The MSRP on a Nissan Maxima 3.5 SV is $

The MSRP on a Nissan Maxima 3.5 SV is $38,625. The interest rate on a 48-month lease is 1.9% compounded monthly. What is the monthly lease payment, assuming a down payment of $5400 and a residual valu...

Q: The $219.40 monthly payment on a 48-month

The $219.40 monthly payment on a 48-month lease of a Kia SOUL was based on a down payment of $1545, an interest rate of 3.9% compounded monthly, and a residual value of $6815. What is the full price (...

Q: With a down payment of $4850, the monthly payment on

With a down payment of $4850, the monthly payment on a four-year lease of a Ford F150 SuperCab (MSRP $27,629) is $369.27. The interest rate on the lease is 7.99% compounded monthly. What residual valu...

Q: A Smart ForTwo cabriolet (MSRP $21,550) can

A Smart ForTwo cabriolet (MSRP $21,550) can be leased for $248 per month. This payment is based on an interest rate of 6.9% compounded monthly, a down payment of $1425, and a residual value of $14,794...

Q: What interest rate is being charged if the monthly payment on a

What interest rate is being charged if the monthly payment on a 48-month lease of a Jaguar XF (MSRP $58,125) is $799? The required down payment is $2999 and the residual value is $24,059.