Thursday, May 8, 2008

Buying a Car

Explain what kind of car you would buy and why. Would you buy new or used, or would you lease? What would your payment be?
- I would buy a Nissan Altima Sedan 2.5S because it's a good car for me and it's very comfortable and also because some of my family members have this car. I would lease because I heard my family members saying that leasing a car is a good way so in that way you could change your car after you done with your payment and it's a very fast way too. My payment for leasing would be:
$21,615 for the car
$595 for acquistion fee
Capitalized costs $22,210
Down payment $3,o0o
Adjusted capitalized costs $19,210
Estimated Monthly Payment $213

Capitalized costs $22,210
Refundable Security Deposit $250
First Monthly Payment $213
Total Due at Lease Signing $3,462.99

Fed helps market go up

The DOW went up over 400 points on Tuesday. Why? What did The Federal Reserve do to encourage the market to go up?

Compound Interest and the Rule of 72

Explain, in your own words the concept of 'compound interest' and 'the rule of 72'. Use examples.
Also using the Compound Interest Calculator - find out how much money you would have if you saved $1 per day ($365 per year) from age 18 to 65 (retirement age). Use 8% interest in your calculation; which is about how much the overall US stock market goes up each year.