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( homework 89 ) (Related to Checkpoint 6.1) (Annuity payments)...

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Finance

( homework 89 )
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(Related to Checkpoint 6.1) (Annuity payments) Lisa Simpson wants to have $1,400,000 in 50 years by making equal annual end-of-the-year deposits into a tax-deferred account paying 11.75 percent annually. What must Lisa's annual deposit be? The amount of Lisa's annual deposit must be s (Round to the nearest cent) (Annuity payments) Prof. Finance is thinking about trading cars. She estimates she will still have to borrow $29,000 to pay for her new car. How large will Prof. Finance's monthly car loan payment be if she can get a 7-year (84 equal monthly payments) car loan from the VTech Credit Union at 5.3 percent APR? Use five decimal places for the monthly percentage rate in your calculations. The monthly payment of Prot. Finance will be $(Round to the nearest cent.) $

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