a is Leon and Heidi decided to invest $2,750 annually for oply the first nine years of their marriage. The first payment was made at age 20. Irude annual interest rate is 8% how much accumulated interest and principal will they have at age 657 The accumulated interest and principal will equal S (Round to the nearest dollar)
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- Leon and Heidi decided to invest $3,250 annually for only the first eight years of their marriage. The first payment was made at age 25. If the annual interest rate is 8%, how much accumulated interest and principal will they have at age 65? Click the icon to view the interest and annuity table for discrete compounding when i=8% per year *** Save The accumulated interest and principal will equal $ (Round to the nearest dollar.)Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage. The first payment was made at age 25. If the annual interest rate is 10%, how much accumulated interest and principal will they have at age 65? Click the icon to view the interest and annuity table for discrete compounding when i= 10% per year. The accumulated interest and principal will equal $ (Round to the nearest dollar.)Leon and Heidi decided to invest $3,250 annually for only the first nine years of their marriage. The first payment was made at age 20. If the annual interest rate is 9%, how much accumulated interest and principal will they have at age 65?
- Jim and Joan Miller are borrowing $120,000 at 6.5% per annum compounded monthly for 30 years (360 months) to purchase a home. Their monthly payment is determined to be $758.48. A recursive formula for their balance after each monthly payment has been made. A determination of Jim and Joan's balance after the first payment. Don't forget the interest affecting their payment create a table showing their balance after each monthly payment. Determine when the balance will be below $75,000. Determine when the balance will be paid off. Determine the interest expense when the loan is paid.(find the total paid, and subtract 120,000 from it).Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage. The first payment was made at age 25. If the annual interest rate is 10%, how much accumulated interest and principal will they have at age 65?Jack and Jill purchase a house and finance $375,000 at 2.8% for 30 years. Their annual insurance is $1,225 and their annual property tax is $5212. How much is their PITI payment each month? Remember, that amount includes principal, interest, property taxes and insurance. You must show the formulas with the values filled in.
- After paying for their children's college education, Amy and Randy have $15,000 in annual savings. They deposit $15,000 at the end of each year into a retirement account that pays 7.5% interest per year compounded annually. How much money will they have in that account at the end of the 15th year? (answer in whole number)Twins graduate from college together and start their careers. Twin 1 invests $1500 at the end of each year for 10 years only (until age 31) in an account that earns 6%, compounded annually. Suppose that twin 2 waits until turning 40 to begin investing. How much must twin 2 put aside at the end of each year for the next 25 years in an account that earns 6% compounded annually in order to have the same amount as twin 1 at the end of these 25 years (when they turn 65)? (Round your answer to the nearest cent.)Starting today, Barbie and Ken each make deposits at the end of every year for 15 years. Barbie deposits 75t at the end of year t, while Ken deposits K(16 − t) at the end of year t. Both Barbie and Ken have accumulated the same amount after 15 years. If the annual effective interest rate is 5%, find K.
- Dan and Mary Foster just divorced. The divorce settlement included $650 a month payment to Dan for the 4 years until their son turns 18. Find the amount Mary must set aside today in an account earning 12% per year compounded monthly to satisfy this financial obligation.Twins graduate from college together and start their careers. Twin 1 invests $2000 at the end of each year for 10 years only (until age 31) in an account that earns 9%, compounded annually. Suppose that twin 2 waits until turning 40 to begin investing. How much must twin 2 put aside at the end of each year for the next 25 years in an account that earns 9% compounded annually in order to have the same amount as twin 1 at the end of these 25 years (when they turn 65)? (Round your answer to the nearest cent.) $1 Need Help? Read ItJudy recently purchased her first home for $220,000. She made a down payment of $20,000, and financed the balance over 15 years, at 6% interest. If Judy's first payment is due on October 1 of this year, approximately how much interest will she pay inthis year? $2,073.47. $1,979.76 $3,288.63. $5,885.09.