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$2.00 Math/Financial Question

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AZU2
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Q:

Suppose you are planning to buy a car, and its price is $30,000. You can borrow the money for a five-year term with an interest rate of 4% annually. You also have $30,000 in your bank account and can invest your money as a bank CD with an interest rate 4.5% annually for five years. Would you please calculate how much you will be benefited if you borrow $30000 from the dealer and invest your own $30000 in a bank CD.

 

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  • Posted on Jul 11, 2012 at 9:42:07PM
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homeworkpower
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Preview: ... figure out how much the CD will yield: CD = 30,000 ( 1 + 0.045)^5 = $37,385.46 The difference is the be ...
The full tutorial is about 90 words long .
 
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  • Posted on Jul 11, 2012 at 10:54:07PM
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bagabhishek
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Preview: ... mplete and step ...
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Interest Paid for borrowing for buying the car for a 5.doc (24K) (Preview)