{"id":3370,"date":"2021-06-29T10:52:55","date_gmt":"2021-06-29T14:52:55","guid":{"rendered":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/?post_type=chapter&#038;p=3370"},"modified":"2021-06-29T19:00:36","modified_gmt":"2021-06-29T23:00:36","slug":"videos-5-fingers-of-finance","status":"web-only","type":"chapter","link":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/chapter\/videos-5-fingers-of-finance\/","title":{"raw":"Videos: 5 fingers of finance","rendered":"Videos: 5 fingers of finance"},"content":{"raw":"<em>5 Fingers of Finance: PV and FV both not 0!<\/em>\r\n\r\n1. You decide to lease a new BMW automobile.\u00a0 The vehicle costs $30,000 new and you are required to pay all taxes at the beginning of the lease.\u00a0 The lease payments are $600 per month for three years and you know the lease company charges interest at 6% compounded monthly.\r\n\r\na) What is the residual value of the car after three years?\r\n\r\nb) How much interest do you pay over the life of the lease?\r\n\r\n[embed]https:\/\/youtu.be\/5JpY_udG_EY[\/embed]\r\n\r\n&nbsp;\r\n\r\n2. You are saving for your son\u2019s postsecondary education in 10 years.\u00a0 You have $27,000 in an RESP account and plan to add $1,000 at the end of the year for the next ten years.\u00a0 How much money will your son have when he goes to school in 10 years if you receive a return of 4.8% compounded annually on the investments?\r\n\r\n&nbsp;\r\n\r\n[embed]https:\/\/youtu.be\/pzhcV8nlsrs[\/embed]","rendered":"<p><em>5 Fingers of Finance: PV and FV both not 0!<\/em><\/p>\n<p>1. You decide to lease a new BMW automobile.\u00a0 The vehicle costs $30,000 new and you are required to pay all taxes at the beginning of the lease.\u00a0 The lease payments are $600 per month for three years and you know the lease company charges interest at 6% compounded monthly.<\/p>\n<p>a) What is the residual value of the car after three years?<\/p>\n<p>b) How much interest do you pay over the life of the lease?<\/p>\n<p><iframe loading=\"lazy\" id=\"oembed-1\" title=\"Business Math Lesson 13: More Annuities, part 1\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/5JpY_udG_EY?feature=oembed&#38;rel=0\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>2. You are saving for your son\u2019s postsecondary education in 10 years.\u00a0 You have $27,000 in an RESP account and plan to add $1,000 at the end of the year for the next ten years.\u00a0 How much money will your son have when he goes to school in 10 years if you receive a return of 4.8% compounded annually on the investments?<\/p>\n<p>&nbsp;<\/p>\n<p><iframe loading=\"lazy\" id=\"oembed-2\" title=\"Business Math Lesson 13: More Annuities, part 2\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/pzhcV8nlsrs?feature=oembed&#38;rel=0\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n","protected":false},"author":883,"menu_order":15,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-3370","chapter","type-chapter","status-web-only","hentry"],"part":46,"_links":{"self":[{"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/pressbooks\/v2\/chapters\/3370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/wp\/v2\/users\/883"}],"version-history":[{"count":1,"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/pressbooks\/v2\/chapters\/3370\/revisions"}],"predecessor-version":[{"id":3371,"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/pressbooks\/v2\/chapters\/3370\/revisions\/3371"}],"part":[{"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/pressbooks\/v2\/parts\/46"}],"metadata":[{"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/pressbooks\/v2\/chapters\/3370\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/wp\/v2\/media?parent=3370"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/pressbooks\/v2\/chapter-type?post=3370"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/wp\/v2\/contributor?post=3370"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/businessmathematics\/wp-json\/wp\/v2\/license?post=3370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}