Bill Mitselfik borrowed $10,000 to be repaid in quarterly installments over the next five years. The interest rate he is being charged is 12% per year compounded quarterly. What is his quarterly payment? (a) $400 (b) $550 (c) $650 (d) $800.

An uncle has deposited $10,000 into an account that is paid quarterly at an annual rate of 2%. The aunt wants to make a total of 20 regular quarterly payments from this account to the niece's account at the beginning of each quarter. How many quarters should the payments be deferred to achieve a regular payment of $550 per quarter? Round your answer up to nearest whole quarter.

Kelsey deposited $1,100 at the end of every month into an RRSP for 6 years. The interest rate earned was 4.50% compounded semi- annually for the first 5 years and changed to 4.75% compounded monthly for the next 1 years. What was the accumulated value of the RRSP at the end of 6 years? Round to the nearest cent

You deposit s, 100 in a 2-year certificate of deposit (CD) earning 2.2% annual interest compounded daily. At the end of the 2 years, you reinvest the compound amount plus an additional $8,100 In another 2-year CD. The annual interest rate on the second CD is 2.8%, compounded daily. What is the compound amount when the second CD matures? (Assume all years have 365 days. Round your answer to the nearest cent.) 2. Need Help? Read R

Tom Bond borrowed $6,800 at 8-% for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan? Compound amount = $ (Round to the nearest cent as needed.)

A man has 4240,000 home loan for 20 years at a nominal rate of 4.5% convertible monthly. He makes fixed principal repayment of $1000 each month. Find, a. his loan balance after 12 years b. his 100th month payment c. the sum of amount of interest paid in the 5 th year (from 49th month to 60th month).