[填空题]
Bruce goes into a car dealership to purchq91fgp0c dxaln ,h *-oase a new vehic yc u,ms1mia.1le. The one he wants to buy costs 16000, however he doesn't have that much money in his bank. The salesman offers him a financing option of a 30 % deposit followed by 12 monthly paymen1umi. cma,ys 1ts of 1150.
1.Find the amount of the deposit.
The amount of the deposit is PV= .
2.Calculate the total cost of the loan under this financing option.
The total cost of the loan is FV= .
Bruce's father generously offers him an interest free loan of
16000 to buy the car to avoid the expensive loan repayments. They agree that Bruce will repay the loan by paying his father $x in the first month and y every following month until the 16000 is repaid.
The total amount Bruce's father receives after 12 months is 5200. This can be expressed by the equation x+11y=5200. The total amount that Bruce's father receives after 24 months is 10600.
3.Write down a second equation involving x and y.
x+ y=
4.Determine the value of x and the value of y.
X= ; Y= .
5.Calculate the number of months it will take Bruce's father to receive the 16000.
N= .
Bruce decides to buy a cheaper car for 12000 and invest the remaining $4000. He is considering two investment options over four years.
Option A: Compound interest at an annual rate of 6.5 %.
Option B: Compound interest at a nominal annual rate of 6 %, compounded monthly.
Express each answer in part (f) to the nearest dollar.
Calculate the value of each investment option after four years.
6.1.Option A.
Hence, using the compound interest formula, we get FV≈ .
6.2.Option B.
Hence, using the compound interest formula, we obtain FV≈ .
