## Question

###### ) Helen is thinking of buying a new car: She has to pay 53800.00 down payment and S500 at the end of each month for the next 8 years Calculate the cash value of the ca she wants to buy if money earns 8% p.a: compounded quarterly: (5 min)Answer the following questions based on the above scenario_ a) What type of annuity is it? How do you know? b) What parameter are we solving for? (PMT, n, FV, PV,i,j) c) What is the numerical value of "n"? d) Do we need 'j" or "p" to

) Helen is thinking of buying a new car: She has to pay 53800.00 down payment and S500 at the end of each month for the next 8 years Calculate the cash value of the ca she wants to buy if money earns 8% p.a: compounded quarterly: (5 min) Answer the following questions based on the above scenario_ a) What type of annuity is it? How do you know? b) What parameter are we solving for? (PMT, n, FV, PV,i,j) c) What is the numerical value of "n"? d) Do we need 'j" or "p" to put into the formula? What is its numerical value of it?

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