How much must be placed in a two-month term deposit earning 4.8% in order to earn $275 interest? Group of answer choices $34,375.00 $53,333.33 $23,333.33 $12,500.00 $5729.17

Q: + nt card has a balance of $5400 and an annual interest rate of 1 there are no further purchases…

A: Loans are paid by the equal monthly payments and these payments carry the payment for interest and…

Q: Question 6 What is the amount you can withdraw at the end of 20 years if you make $1,500 monthly…

A: Future value of ordinary annuity = A x [(1+i)^t - 1] / iwhereA = Periodic cash flow = Monthly…

Q: If you wish to withdraw $200 at the end of EACH of the next 3 years earning 3.5% per year, what…

A: Present Value of annuity refers to the current value of all the series of payments or income at…

Q: You deposit $ 6,957 in an account that pays 1 % simple interest. How much do you have after 12…

A: Deposit amount (P) = $ 6,957 Interest rate (r) = 1% Period (t) = 12 Years

Q: You have just started a new job and plan to seve $4,300 per year for 37 years until you retire. You…

A: Annual Saving = s = $4300 Time = t = 37 - 1 = 36 years        (because first deposit is made 1 year…

Q: If you borrow $35,000 to buy a car on 10 years loan at 9% annual interest rate, what is the % of…

A: The monthly payment for the loan borrowed is calculated by the present value of the annuity formula.…

Q: Find the monthly payment for the loan. Purchase Price Down Payment $3100 $600 The monthly payment is…

A: Variables in the question:Purchase Price=$3100Down Payment=$600Finance Charge=$210# of Monthly…

Q: Your credit card charges an APR of 29% on your balance. Interest is compounded on a daily basis made…

A: Over the course of a predetermined period, regular payments are made on a loan, with each payment…

Q: A certificate of deposit (CD) often charges a penalty for withdrawing funds before the maturity…

A: A certificate of deposit (CD) is good option for risk adverse investors to invest cash while…

Q: QUESTION 13 How much do you still owe on your auto loan if you have 41 remaining monthly payments of…

A: The loan amount is the total of principal with interest added over the period of time. When the…

Q: Find the future value of this loan: $20,862 at 11.4% for 14 months. Group of answer choices A.…

A: Given information : Present value = $20862 Interest rate = 11.4% Time period = 14 months

Q: Straight bank loan. Right Bank offers EAR loans of 9.44% and requires a monthly payment on all…

A: The amount of loan repayment which is required to be paid on a monthly basis is known as monthly…

Q: What is the APR for a fed ra

A: APR means annual percentage rate. APR means the borrowing cost incurred by the borrower for a…

Q: Paying off credit card debt: 000.8012=000.5062000.0128 What will be your monthly payment if you have…

A: The time value of money is the idea that an amount of wealth is considerably more right now than it…

Q: compounded

A: Formula to calculate preset value: PV = FV/(1+r/n)^nt Where PV is the present value, FV is the…

Q: merchant receives an invoice for $8000 with terms 2/10, n/50. What is the maximum interest rate that…

A: Interest rate:The cost of borrowing money in a percentage is known as the interest rate. Interest…

Q: How many months will it take to pay off a credit card debt of $4,000 by paying $250 per month at an…

A: Using NPER function in excel

Q: Suppose you want to have $700,000 for retirement in 20 years. Your account earns 7% interest. a) How…

A: Amount needed each month depends on time and interest rate and actually much less than original…

Q: Assuming a 360-day year, the interest charged by the bank at the rate of 10%, on a 90-day,…

A: The note payable has a predefined maturity date. At the maturity date, the value of the note is paid…

Q: question 17

A:

Q: If you have a $15,000 car note with a $450.00 monthly payment, payable over 36 months, what interest…

A: In the given question we need to compute the interest rate from following details: Car note value =…

Q: How much will you owe at the end of 10 years and a month, if you decide to pay your yearly bonus at…

A: Here, Loan Amount$355,000.00Time Period in years15APR5.50%Compounding Period (Weekly)52Yearly Bonus…

Q: If you have a $19,500 car note with a $380.00 monthly payment, payable over 60 months, what interest…

A: In the above question we need to compute the interest rate from following details: Value of card…

Q: MMA MATHEMATICAL ASSOCIATION OF AMERICA Simple and Compound Interest / 5 Previous Problem Problem…

A: Solving the T-Bill ProblemThis is a simple discount loan because the interest is deducted upfront…

Q: The First Bank of Lending lists the following APR for loans. Determine the APY, or effective…

A: APR is the annual rate of interest which is charged on a loan. The borrower needs to make loan…

Q: Question A Suppose the annualized LIBOR3 is 4.23% and the annualized LIBOR6 is 5.97%. What is the…

A: As per the given information:The forward rate for a LIBOR3 (annualized) deposit is to be placed…

Q: How much will you owe at the end of 10 years and a month, if you decide to pay your yearly bonus at…

A: Here, Loan Amount$355,000.00Time Period in years15APR5.50%Compounding Period (Weekly)52Yearly Bonus…

Q: you borrow 2100 monthly payment 352.81 6 years what is apr of loan

A: Loan amount = 2100Monthly payment = 352.81time = 6 years or 72 months (note 1 year = 12 months)

Q: What is the FV of a RO 800, 6-year loan with 2% monthly compound interest?   a. All options are…

A: Using excel FV function

Q: what is the future value of a single payment of $10,000 after 4 pay periods using an interest rage…

A: Future value is the value of an investment or cash flow at a specified time in the future, based on…

Q: W WA Finance 2-Borrowing Money and Pa Assume that you take out a $4000 loan for 30 months at 8.5%…

A: Given,  The loan amount is $4000 Rate is 8.5% Term is 30 months

Q: None

A: Option c: This option is correct. Step 1:We have to calculate the present value of the amount to be…

Q: A bank offers a home buyer a 25-year loan at 9% per year. If the much must be repaid every year? OA.…

A: Loans are paid by equal and fixed annual payments and these payments carry the payment for loan and…

Q: For the next 13 years, you will deposit $2,250 every quarter in a savings account. The account pays…

A: Future value of an annuity is the total value of a series of equal payments made at regular…

Q: onsider a loan at 4.125% APR on 6 years for a $23,000 car a. Estimate the monthly payment (using…

A: Equated Monthly Installments are one part of the equally divided monthly outgoes to clear off an…

Q: In order to buy a vacation home, Neal and Lilly took out a 30-year mortgage for $250,000 at an…

A: A mortgage refers to a covered loan borrowed for purchasing real estate. The real estate itself acts…

Q: QUESTION 9 Assume you have a balance of $3200 on your credit card that you want to pay off.…

A: Using excel PMT function

Q: What end of month payments are required over 4 years to pay off a $27,000 loan borrowed at 9.75%…

A: A loan is an agreement between two parties where an amount is forwarded with the promise to pay it…

Q: How much do you have to deposit now in your savings account that earns a 6% annual interest if you…

A: Interest Rate = 6% p.a. Time Period = 5 years Cash Flows: Year Cash Flow 1 1000 2 1250 3…

Q: An amortized loan of $95,000 that you took calls for 30 annual payments of $8,000. What is the…

A: Interest rate can be calculated by using the excel formula ''=RATE''

Q: O O O O What is 6% loan back in f installme A. P3 O B. P7 C. P2 D. P3

A: The given problem can be solved using PMT function in excel. PMT function computes amortization…