
Economics Economics Forum  Financial Mathematics, Econometrics, Operations Research, Mathematical Finance, Computational Finance 
 LinkBack  Thread Tools  Display Modes 
May 1st, 2015, 09:42 AM  #1 
Newbie Joined: May 2015 From: Colombia Posts: 1 Thanks: 0  Double annuity
Hi! I have this problem: A car is purchased by 12 million by paying 48 monthly fee due to x each quarterly fee due and 400 000 each for four years. If a rate of 44 % annual effective, determine the value of x . Answer is $353 137.09 Usually, in problems I've seen, annuity is separated, but here is combined. I tried solving by present and future value, but I always get a negative value, and really far from the answer. Last edited by skipjack; May 4th, 2015 at 11:59 PM. 
May 4th, 2015, 09:34 PM  #2  
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 12,915 Thanks: 883  Quote:
1: calculate k : how much can be borrowed at the quarterly payment 2: calculate the monthly payment on 12000000  k Last edited by skipjack; May 5th, 2015 at 12:00 AM.  

Tags 
annuity, double, due 
Thread Tools  
Display Modes  

Similar Threads  
Thread  Thread Starter  Forum  Replies  Last Post 
annuity  fatim  Economics  6  November 30th, 2014 07:20 PM 
Increasing Annuity  Bom55  Algebra  2  April 10th, 2013 08:10 PM 
Annuity Problem  tbl9301  Economics  3  September 16th, 2009 07:10 AM 
Present value annuity  tbl9301  Economics  2  September 8th, 2009 02:54 PM 
Present Value of An Annuity  simplequestion  Economics  3  October 8th, 2008 12:41 PM 