How many years (and months) will it take $2 million to grow to $6.20 million with an annual interest rate of 7 percent? (Do not round intermediate calculations. Round "months" to 1 decimal place.) PERIOD. ____YEARS_____MONTHS?

q 3 Say that you purchase a house for $284,000 by getting a mortgage for $250,000 and paying a $34,000 down payment. If you get a 30-year mortgage with an interest rate of 8 percent, what are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment?   What would the loan balance be in ten years? (Round the payment amount to the nearest cent but do not round any other interim calculations. Round your final answer to 2 decimal places.) Loan balance?     If the house appreciates at 4 percent per year, what will be the value of the house in ten years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future value?   How much of this value is your equity? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Equity?

Keep getting part be wrong asnwer is not 462,040.896

Question 6 How long would it take you to double your money in an investment if it Earns 3.75% compounded quarterly ? Answer should be be rounded to the nearest months

Not use excel

Solving for unknowns; single amounts ● LO5–4 For each of the following situations involving single amounts, solve for the unknown (?). Assume that interest is compounded annually. (i = interest rate, and n = number of years)

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