Beautinator Cosmetics borrowed $152,300 from a bank for three years. If the quoted rate (APR) is 10.44 percent, and the compounding is daily, what is the effective annual rate (EAR)?

A debt of $6436.51 is repaid by payments of $1707.02 in 3 months, $1233.91 in 13 months, and a final payment in 23 months. If interest was 8% compounded semi-annually, what was the amount of the final payment?

The Superior Tool Company is repaying a debt of $16,000 by payments of $1000 made at the end of every three months. Interest is 7.5% compounded monthly. (a) How many payments are needed to repay the debt? (b) What is the size of the final payment? (a) The number of payments to be made is (Round up to the nearest whole number.) (b) The amount of the last payment is $ (Round to the nearest cent as needed.)

A washer-dryer combination can be purchased from a department store by making monthly credit card payments of $43.02 for three-and-a-half years. The first payment is due on the date of sale and interest is 15% compounded monthly. (a) What is the purchase price? (b) How much will be paid in installments? (c) How much is the cost of financing? (d) If an additional $8.50 per month is added to cover a service contract, what is the value of the entire contract on the date of sale?

Suppose that at the end of each week for 30 years, $100 is deposited into an account that earns 6.8% annual interest, compounded weekly. (a) Find the total value in the account after the 30 years. (b) What is the total amount of the payments over the 30 years? (c) What is the total amount of interest earned over the 30 years?

Canadian Western Bank issued a loan of $59,000 at 4.33% compounded semi- annually. The loan was repaid by payments of $730 at the end of every month. a. How many payments were required to pay off the loan? (Enter a whole number) b. What was the total interest paid in the 4th year? (Enter starting and ending periods as P1 and P2 and the total interest paid as a positive value to the nearest cent.) P1 = P2= = Total interest paid in the 4th year = $ c. What was the size of the final payment? (Enter a positive value to the nearest cent) $

- In how many years will it take $17804accumulate to $33482 when you deposited in a savings account that earns 3% compounded annually? - A debt of $15,000 was paid for as follows: $4,000 at the end of 3 months, $5,000 at the end of 12 months, $3,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest was 18% compounded quarterly., find the final payment F.

An investments account offers a 12% annual return. If $35,000 is placed in the account for two years, by how much will the investment grow if interest is compounded (a) annually, (b) semiannually. (c) quarterly, or (d) monthly? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) Initial Investment Annual Rate Interest Compounded Period Invested Future Value a. $ 35,000 12% Annually 2 years ped b. 35,000 12% Semiannually 2 years C. 35,000 12% Quarterly 2 years ook d. 35,000 12% Monthly 2 years nt

A bank features a savings account that has an annual percentage rate of r = 5.1% with interest compounded quarterly. Kimberly deposits $12,000 into the account. The account balance can be modeled by the exponential formula A(t) = a(1+ r kt where A is account value after t years , a is the principal (starting amount), r is the annual percentage rate, k is the number of times each year that the interest is compounded. (A) What values should be used for a, r, and k? k = = D (B) How much money will Kimberly have in the account in 10 years? Amount = $ Round answer to the nearest penny. (C) What is the annual percentage yield (APY) for the savings account? (The APY is the actual or effective annual percentage rate which includes all compounding in the year). АРY Round answer to 3 decimal places.

If you deposit $2000 in an account that pays 3.6% with quarterly compounding, what is the balance after six years? How much interest is earned?