Teacher passed out a take home quiz, I have answered all but these four bonus questions. Knowing me I don't like leaving any questions blank lol (OCD maybe?)

#1. You want to purchase an automobile priced at $26,500. The dealer offers you 0% financing for 60 months or a $5,000 rebate. You can obtain 5.9% financing for 60 months through your bank. Which option is a better deal? Explain.


#2. How many months will it take until an account will have $5,000 if $2,500 is invested now at 5% compounded monthly?

#3. If you pay $6,000 for a simple interest note that will be worth $10,000 in 21 months, what annual simple interest rate will you earn? (compute the answer to one decimal place.)

#4. An ordinary annuity has a value of $1,333.85 at the end of 4 years when $150 is deposited every 6 months into an account earning 6% compounded semiannually. How much interest has been earned?

:popcorn:

#1 rebate, end up paying $24,897
#2 i need the compound interest formula!
#3 brown
#4 http://www.trademe.co.nz/Trade-Me-Motors/Cars/Mazda/auction-71553939.htm

haha! fukn sam
its alright already answered them :)