After the introductory period is over, determine how much it would cost you in interest to carry a balance of $5000 for one day with a 13.99% APR.

Q: If you deposit $150 in an account with an APR of 6% and continuous compounding, the balance after 2…

A: Information Provided: Principal = $150 APR = 6% Time = 2 years

Q: You borrowed $10,000 from a friend and are repaying it with a $500 deposit at the end of the month…

A: The interest payment for Nth payment can be found by using IPMT in the excel sheet. Firstly it is…

Q: What monthly amount is needed for a car loan with a starting balance of $8,000 over 3 years with the…

A: Car loan implies when car is purchased by making small initial payment called down-payment and rest…

Q: ou have $8,800 to buy a bc he number of months:

A: Answer : Amount = $8800 Principal = $250 rate = 2.4% Month = ?

Q: To remodel your business, you need to sign a 190-day note with proceeds of $16,559.57 and a maturity…

A: Solution Given Maturity period of note 190 days Issue proceed 16559.57 Maturity…

Q: Suppose a furniture dealer offers to sell you a $5,000 bedroom suite on the following terms: Make no…

A: Formula used :APR is the rate charged on an yearly basis by the lender or borrowee.

Q: An Account has an balance of $3500 an earns an  annual compound intrest rate over 2 yrs leaving the…

A: Future value ($4,390.08) is the worth of cash we have today ($3,500) after 2 years. Basically…

Q: Type the number of months:

A: Future value refers to the amount at some future date of the asset present today on the basis of…

Q: What is the total interest you will have paid for the scenario below? The home you purchased was…

A: Payment per period can be calculated using PMT function in excel.PMT(rate, nper, pv, [fv],…

Q: You have taken out a loan of $15,000 for 4 years with an interest rate of 7% compounded annually.…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: eposits of 100 are made to an account today and one year from today. The annual force of interest at…

A: Force of interest is interest compounding continuously and is the highest form of the compounding.

Q: 4. What account should you invest your money in? (Hint. Calculate the APY of each account)  Account…

A: 1. APR= 3%, annual compounding 2. APR =2.75% monthly compounding

Q: Calculate the amount of interest you'll have at the end of the indicated period. 22) You invest…

A: Simple Interest is method of computing interest where compounding is not done. Compounding refers to…

Q: Using either logarithms or a graphing calculator, fnd the time  required for each initial amount to…

A: Principal = $4500 Annual interest rate = 3.6% = 0.036 Number of compounding periods per year =12…

Q: Your business requests a 3-month loan for $450,000. What will be the interest paid at the end of the…

A: A loan is a type of debt that a person or another entity assumes. The lender, which is often a…

Q: Suppose that our business uses a monthly fiscal period. On March 1, 2020, we paid 6 months of rent,…

A: In terms of general meaning, it is the amount paid by the user or tenant to the owner for the use of…

Q: How much should you invest at 2.5% simple interest in order to earn $95 interest in 7 months?

A: Interest:- Interest is the payment of an amount above repayment of the principal sum (that is, the…

Q: If you buy a computer directly from the manufacturer for $2,417 and agree to repay it in 36 equal…

A: 1. Present value of annuity. PV = A * 1-(1+r)-nr where , PV = Present value of annuity. A = periodic…

Q: You have deposited $1,500 in an account that promises to pay 8% compounded quarterly for the next…

A: The objective of this question is to calculate the future value of an investment with quarterly…

Q: A person deposits 200$ at the end of first, 300$ at the end of second and with draw 150$ at the end…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: Tuition of $1632 will be due when the spring term begins in 5 months. What amount should a student…

A: The question is based on the concept of Financial Management. Present value of the future value can…

Q: If the initial margin is $5,000, the maintenance margin is $3,500 and your balance is $4,000, how…

A: Given, Initial margin = $5,000. Maintenance margin = $3,500. Balance = $4,000.

Q: What is the balance in an investment account at the end of 5 years if $3,000 is deposited today and…

A: To calculate the future value of an investment with the formula to be engaged…

Q: The price of a car is OMR 6,500. After a down payment of OMR 500, the remaining balance is financed…

A: Car price = OMR 6,500 Down payment = OMR 500 Loan amount = OMR 6,500 - OMR 500 = OMR 6,000 Total…

Q: Find the present value of an account if the future value is $4,200 at 6 #% simple $ interest from…

A: Present value is the current value of a future amount with a specified rate and at a specified time.…

Q: You borrow $64,000 in the form of an unsubsidized loan at 3.98% APR. How much money do you owe when…

A: Given: Loan amount = $64,000 APR = 3.98% Period 6 months

Q: You buy a lathe for $10,000. You are charged an annual interest rate of 12% and pay equal quarterly…

A: Loan = 10,000 Interest rate = 12%/4 = 3% per quarter N = 20*4 = 80 Quarters

Q: You purchase a vehicle for $25,000 at an 8% APR.  Your loan term is 72 months.  After one year of…

A: Compute the monthly interest rate, using the equation as shown below: Monthly rate=Annual rate12…

Q: A man made a loan of $300 to be repaid with $325 at the end of 85 days. What was the annual (simple)…

A: Loan = 300 Repayment = 325 Time Period (N) = 85/365 in years

Q: An item is sold for an initial installment of $600 and 18 payments of $500 at the end of each month,…

A: Amortization schedule:  An amortization schedule is a detailed table of periodic loan payments that…

Q: Assume that you deposit $1,000 in an account earning 5% simple interest for 3 years. What is the…

A: Given: Deposit = $1,000 Interest rate = 5% Years = 3

Q: Starting next month, if you make monthly deposits of $501 into a retirement account that earns 6%…

A: Future value refers to the value of an investment or asset at a specific point in the future, based…

Q: A woman opens an account with $750 and then adds $500 at the end of each 6-month period for 10…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: What was the annual (simple) interest rate?

A: Simple interest rate is used to calculate the interest amount on the borrowed capital. We calculate…

Q: What will your monthly payment be for a car you purchase for $95,000 today where the bank will…

A: In the given question we require to calculate the monthly payment on car finance.

Q: cover

A: Time period to arrive at these costs can be calculated by using simple payback method: Payback…

Q: Tuition of $2075 will be due when the spring term begins in 6 months. What amount should a student…

A: Time value of money is one of the important concept of finance which says that a dollar amount…

Q: You can buy a car for $6,998 with $798 down and payments of $164.51 each month for 48 months.…

A: Using excel rate funtion

Q: You can afford monthly deposits of $170 into an account that pays 3.0% compounded monthly. How long…

A: The FV of an investment refers to the value of the cash flows at a certain future date assuming that…

Q: An amount of $16,250 is invested at 13% simple interest for 275 days. a.) What are the exact and…

A: Lets understand the basics. Interest is needs to earn on a amount invested at particular rate for…

Q: Please step by step solution

A: First, you must understand that what is required for this question is to determine the future value…

Q: A customer has a balance of $4,000 to be invested in a savings account with 5% interest per year.…

A: Time value of money is one of useful concept of finance. Under this, present value and future value…