Don James purchased a new automobile for $15,000. Don made a cash down payment of $3,750 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount of the required monthly payment. (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.)

The monthly payments are calculated below.

Explanation:

Total monthly instalments= 15,000-3,750

=11,250

Amount payable at 24% annual financing;

A=P (1+r/100)n

=11,250(1+24/100)30/12

=$642

FV=PV (1+r)n

i) FV=12,000*(1.08)16

= $41,111

ii) FV =16,000*(1.05)15

= $33,263

iii) FV =29,000*(1.11)12

= $101,455

iv) FV =49,000*(1.04)7

= $64,481

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

answer///a coalition;