Applied Math 40S May 7, 2008

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Calculating Leasing costs vrs. the cost of buying.

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Applied Math 40S May 7, 2008

  1. 1. Interested in leasing something a little different? Yellow Car! Smack! Kiss! by flickr user orangeacid
  2. 2. Jess wants to buy a 4 x 4 pickup truck for $24 950.00 plus PST (7%) and GST (5%). She will use her present small car as a trade, and will receive $5 200.00 trade-in value. She will make a $3000 down payment, and pay for the balance of the cost of the vehicle with a loan. The loan interest rate is 8.75%, and must be repaid in 3 years. What are her monthly payments and what is the total cost of the truck? N= I%= PV= PMT= FV= P/Y= C/Y= PMT: END BEGIN

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