(a) Heather borrowed $5000 from her grandmother as a down payment on her first car. She promised to repay the debt in 2 years at 7% per annum, simple interest. How much should Heather repay her grandmother?
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- Ariells borrows 400,000 at i-.03. She repays this loan by paying off only the interést due at the end of each year to the lender and depositing a level amount Y at the end of each year into a sinking fund account offering 6% APY so as to accumulate the full balance of the loan amount in the sinking fund at the end of 15 years. Find the AEIR that Arielle has ended up paying on this loan. O A..01744 OB. 0115 O C..02009 O D..01194 O E..01586(a) Heather borrowed $5000 from her grandmother as a down payment on her first car. She promised to repay the debt in 2 years at 7% per annum, simple interest. How much should Heather repay her grandmother? (b) How much must Jason deposit in a special account paying interest at the rate of 9.5% to receive $75.21 in interest after 6 months? (c) An investment of $4500 gained $337.50 in intesest in 9 months. What rate of yearly intesest did the investment pay?A mother wants to invest $8 comma 000.00 for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) which earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $ 480.00 comma how much money was invested in the CD account? The total interest earned after one year is $480.00 . How much money was invested in the CD account?
- A mother wants to invests 9,000.00 for her sons future education she invests a portion of the money in the bank certificate of deposit (CD account) which earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is 540.00 how much money was invested in the CD accKatie invested $191 for 16 months in a bank and received a maturity amount of $209.50. If she had invested the amount in a fund earning 2.30% p.a. more, how much would she have had received at maturity? Jaspreet borrowed $6,000 at 4.4% p.a. and repaid the loan on March 14, 2024. Jaspreet paid $249.78 in interest. How many days ago had he received the loan? Katie invested $5,800 for 358 days at 2.6% p.a. How much more interest would she have earned on the investment if the interest rate was 3.0% p.a. instead of 2.6% p.a.?Cristy borrowed $4,800 from a family friend 2½ years ago at 7% compounded annually for the first year and 8% compounded semi-annually thereafter. She made a payment 1½ years into the loan for $2980. How much should Cristy pay today to clear her loan? Select one: a. $5384.26 b. $2554.13 c. none d. $5777.30
- Vanessa initially borrowed $6,400 from RBC Bank at 3.64% compounded semi-annually. After 4 years she repaid $2,304, then 6 years after the $6,400 was initially borrowed she repaid $2,624. If she pays off the debt 11 years after the $6,400 was initially borrowed, how much should her final payment be to clear the debt completely? Round all answers to two decimal places if necessary. P/Y = CY = N = I/Y = PV = $ PMT = $ FV = $ Amount owed after 4 years = $ (enter a positive value) Amount owed after the first payment of $2,304 (enter a positive value): $ P/Y = CN = I/Y = N = % PV = $ PMT = $ FV = $ Amount owed after 6 years = $ (enter a positive value) Amount owed after the second payment of $2,624 (enter a positive value): $ P/Y = C/Y = N = I/Y = PV = $ PMT = $ FV = $ Final payment (after 11 years); (enter a positive value) $1.) Leslie Mosallam, who recently sold her Porsche, placed RM10,000 in a savings account paying annual compound interest of 6 percent. Calculate: The amount of money that will accumulate if Leslie leaves the money in the bank for 1, 5 and 15 years. Suppose Leslie moves her money into an account that pays 8 percent or one that pays 10 percent. Rework part (a) using 8 percent and 10 percent. What conclusions can you draw about the relationship between interest rates, time and future sums form the calculations you just did?Madison initially borrowed $8,200 from TD Canada Trust at 3.45% compounded semi- annually. After 2 years she repaid $2,706, then 6 years after the $8,200 was initially borrowed she repaid $3,608. If she pays off the debt 11 years after the $8,200 was initially borrowed, how much should her final payment be to clear the debt completely? Round all answers to two decimal places if necessary. P/Y = C/Y = N = I/Y = %3D PV = $ PMT = $ FV = $ Amount owed after 2 years = $ (enter a positive value) Amount owed after the first payment of $2,706 (enter a positive value): $ * P/Y = C/Y = I/Y =
- ↑ A woman deposits $8000 at the end of each year for 13 years in an account paying 8% interest compounded annually. (a) Find the final amount she will have on deposit. (b) Her brother-in-law works in a bank that pays 7% compounded annually. If she deposits money in this bank instead of the other one, how much will she have in her account? (c) How much would she lose over 13 years by using her brother-in-law's bank? (a) She will have a total of $on deposit. (Simplify your answer. Round to the nearest cent as needed.) CULA couple wishes to borrow money using the equity in their home for collateral A loan company will loan them up to 70% of their equity. They puchased their home 11 years ago for $66.462. The home was financed by paying 15% down and signing a 30-year mortgage at 8.1% on the unpaid balance Equal monthly payments were made to amortize the loan over the 30-year period. The net market value of the house is now $100,000 After making their 132nd payment, they applied to the loan company for the maximum loan How much (to the nearest dollar) will they receive? Amount of loan $(Round to the nearest dollar)4. Sandy borrowed 20039 R.O from a bank to buy a piece of land. If the bank charges 12 1/3% compounded each two months, what amount will she have to pay after 2 years and half? Also find the interest paid by her?
