Andre Castello owns a savings account that is paying 2.5% interest compounded annually His current balance is $7.598.42. How much interest will he earn over 5 years if the rate remains constant? Select one: a. $998.49 b. $8596.91 c. $949.80 d. $882.52

Your grandmother just died and left you $47,500 in a trust fund that pays 6.5% interest. You must spend the money on your college education, and you must withdraw the money in 4 equal installments, beginning immediately. How much could you withdraw today and at the beginning of each of the next 3 years and end up with zero in the account?   a. $3,087.50     b. $13,865.38     c. $10,120.08     d. $16,840.23     e. $13,019.14

You have collected $8,342 Your banker states that if you deposit these funds in her institution they will accumulate to $16,786 In twelve years. What is the implied rate that she is paying on this deposit? 50% 12% 5% 6%

Question 1 To pay the remainder of his student loan, Tran borrows $3500 from his at an interest of 3.5% per year, compounded semi-annually. His parents would like the lone to be paid in full in 3 years. How much interest will Tran pay to his parents? Question 1 options: a) $350.00 b) $383.96 c) $410.00 d) $400.00

You would like to give your son $70,000 towards his college education 12 years from now. How much money must you set aside today for this purpose if you can earn 8% on your investments? B. $176.271.91 C. $27.797.96 A. $12.250.00 interest rate, you will triple your money in ately D. $3,688.65 E. $14.211.11

Problem #1. Jason's uncle loaned him $26,560 to help start a landscaping business. They agreed that Jason would pay off the entire loan plus 3.24% annually compounded interest in 4 years, and that in the meantime he would make monthly deposits into a bank account to make sure that he has the amount needed when the loan comes due. The bank will pay 2.09%. (a) Find the total amount Jason will need to repay the loan. Show your work. (b) How much should each of his monthly deposits be? Show your work.

Suppose you borrowed $25, 000 at a rate of 9.0% and must repay it in 4 equal installments at the end of each of the next 4 years. How large would your payments be? Select the correct answer. a. $7, 703.52 b. $7, 729.92 c. $7, 716.72 d. $7, 736.52 e. $7,723.32

Question 4 You deposit $500 each month into an account earning 7% interest compounded monthly. a) How much will you have in the account in 20 years? b) How much total money will you put into the account? c) How much total interest will you earn?

Suppose you borrowed $38,000 at a rate of 9.0% and must repay it in 4 equal installments at the end of each of the next 4 years. How large would your payments be? Select the correct answer.   a. $11,735.41     b. $11,723.41     c. $11,726.41     d. $11,732.41     e. $11,729.41