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3 Lisa Carr purchases a truck 55200 and plans to pay for the vehicle through...

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Basic Math

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3 Lisa Carr purchases a truck 55200 and plans to pay for the vehicle through the dealership s financing plan She makes monthly payments on this balance for 5 years and the financing rate is 5 20 compounded monthly What will Lisa s monthly payments need to be to pay off her balance in 5 years 3 marks FOR SIMPLE INTEREST I pxrxt Annuities FUTURE VALUE OF AN ANNUITY 1 1 For COMPOUND INTEREST A P 1 i PRESENT VALUE OF AN ANNUITY PV R 1 1 1

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