APR of 4.8% compounded You are saving to buy a car, and you deposit $210 at the end of each month for two years at an monthly. What is the future value for this savings arrangement? That is, how much money will you have for the purchase of the car after 2 years? Round your answer to the nearest cent.

Q: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: Peter purchased a cottage for $360,000. He paid $32,500 down and agreed to make equal payments at…

A: Solution-The price of the cottage =$360000Down payment=$32500Rate(r)=3.2% or 0.032Time(t)=8…

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: $102 is invested in an annuity at the end of every month at 8.5%.  Find the value of the annuity at…

A:

Q: James receives $6497 at the end of every month for 4 years and 3 months for money that he loaned to…

A: Please check the answer in next step

Q: George puts his bonus of $4,200 into an account earning 7.5% compounded monthly.  How long will it…

A: Given: Initial amount = 4200 rate of interest = 7.5 monthly Final amount  = 5000 Now, we need to…

Q: You deposit $1000 each year into an account earning 6% interest compounded annually. How much will…

A:

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Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can the homeowner…

A: Given that  A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can…

Q: Alexander loaned $70,000 to a small business at 4.18% compounded monthly for 1 year and 6 months.…

A: Alexander loaned  to a small business at  compounded monthly for  year and  months.We have to find…

Q: You take out a loan to purchase a car for $7600. The bank offers you 3.8%, compounded monthly for 4…

A: Interest = $ 26525.22

Q: An amount of $1500 is deposited semi-annually for two years into a fun 10.5% per year, compounded…

A: Its is given that $1500 is deposited semi annually for two years into a fund that pays 10.5% per…

Q: Kelly paid off his student loan in 3 years by making payments of $650 at the beginning of every…

A:

Q: Find the total amount after 10 years for the initial deposit of $30,000 with the interest rate of 5%…

A:

Q: You can afford monthly deposits of $120 into an account that pays 2.4% compounded monthly. How long…

A:

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

A:

Q: You deposit $2000 each year into an account earning 7% interest compounded annually. How much will…

A:

Q: You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay…

A: The monthly payment is calculated using the formula: Monthly Payment=Loan amount×i1-(1+i)-n. Here, i…

Q: Hannah is buying a house in Prince Edward Island. She paid $45000 cash when she bought the house and…

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Q: you deposit $300 each month into an account earning 2% interest compounded monthly. How much will…

A:

Q: Sam begins saving for a down payment on a house using an investment account. The account earns…

A: Let's find.

Q: You deposit $4000 each year into an account earning 5% interest compounded annually. How much will…

A: