ow much Shane has to set aside at the end of each month for the next five years in order to have $34,000 after five years to buy a new car interest rate is 3% per year compounded monthly
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- Cena deposits a certain amount of money into his family’s savings account at the beginning of each quarter for the next 4 years. He wishes to have $100,000.00 after 4 years. The interest rate is 8% compounded quarterly. How much does he need to deposit at the beginning of each quarter? Create an amortization table.Jimmy takes up a $50,000 loan from a bank and plans to repay the bank each month over the next 5 years, what is the yearly payment if the interest rate is 3% per annum?John contributes $5,000 per month into an account. How much will he have in the account after 25 years if the account earns at an annual interest rate of 4.5% compunded yearly?
- Aidan deposits $1000 at the end of each quarter in an account that pays 5.25% per year, compounded quarterly. If he does this for 25 years, how much will be in the account?Rebecca Carlson purchases a car for $25,000 and finances her purchase by borrowing the money at 8% per year compounded monthly; she pays off the loan with equal monthly payments for 5 years. What will be the size of her monthly loan payment?In 6 years Harry and Sally would like to have $24000 for a down payment on a house. How much should they deposit each month into an account paying 14% compounded monthly?
- mico borrows $23,000 to buy a car at 7.5% per year compounded monthly. He will pay it back by making equal monthly paymenst over 5 years. how much interest will mico pay11) Max purchases a lot for $300,000. Max will pay $25,000 dollars at the end of each year. the interest rate is 4% compounded annually, how many full payments must be made? a) what will be the size of the payment one year after the last full payment?Fritz Benjami buys a car costing $14200. He agrees to make payments at the end of each monthly period for 6 years. He pays 6.0% interest, compounded monthly. What is the amount of each payment? Find the total amount of interest Fritz will pay.
- Patrick makes payments of $250 per month at the end of each month. At the end of 10 years, he wants to have $50,000. What annual interest rate would he need in order to make that happen?Mr. Ramos savings allow her to withdraw 50,000 semi -annually for 11 years starting at the end of 4 years. How much is Mr. Ramos's savings if the interest rate is 5% converted semi-annually ?How much should Brianna's dad invest in a savings account today, to be able to pay for Brianna's rent for the next six years, if the rent is $750, payable at the beginning of each month? The savings account earns 3.19% compounded monthly. Please explain in details