View the step-by-step solution to:

Question

# 1) Lisa Carson has the opportunity to receive \$12,000 now or \$15,000 in four years. If Lisa can earn 6 percent on

her investment, what is the present value of the \$15,000 payment?

2) Tom has a four-year-closed-end lease on his land cruiser. His contract stipulates a \$0.42 per mile excess mileage charge in excess of 48,000 miles. If he actually drove the vehicle 60,000 miles during the four years, he would be charged and extra___.

3) What is the monthly payment for a \$24,000, four-year, 12 percent loan with the interest calculated using the add-on method?

PV = 11881.40 Extra... View the full answer

### Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

• ### -

Study Documents

Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

Browse Documents