MATH

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17. -11.57 points ilylrlotes I SmithNMl2 11.7.016. I

r Classify the financial prcblem. Assurne a 9o/o interest rate conpounded annually. I find the value of a $1,000 certificate in 3 years. i O anpftization

O ordinary annuity O sinking fund O futurc value

i

I O present value :

,:

Answer the question. (Round your answer to the nearest cent.)

$

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18. On.{polnts I Previous Answers ily i,lotes I SmihNMl 2 11.7.026.

The armunt to be financed on a new car is $9,500. The terns are 5o/o for4 years. What is the nonthly paynent?

(a) State the type.

O future value O arncrtization O ordinary annuity O present value O sinking fund

x

(b) Answer the question. (Round your answer to the nearest cent.) $

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