Week 5 Solutions

Week 5 Solutions - 114 collision ins. $12*7 days/year = 84...

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Week 5 Solutions 3. (a) PV 1000 n 12 I 2 PMT 94.56 (b) PV 1000 n 12 PMT 103.33 I 3.47% per month, or 50.58% p.a. 4. C I B C B N B grace period 17/30*.05*$2,000 = $ 57 25/30*.05*$2,000 = $83 rebates $2,000*12*.005/1.05 =
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Unformatted text preview: 114 collision ins. $12*7 days/year = 84 Total $255 83 Card fee 175 12 Net Value $ 80 $71 Therefore, CIBC Gold is the better choice for them....
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