I now have $30,000 in the bank earning interest of 0.75% per month. I need $40,000 to make a down payment on a house. I can save an additional $100 per month. How long will it take me to accumulate the $40,000?  Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Use a financial calculator or Excel.

Suppose you want to have $400,000 for retirement in 35 years. Your account earns 5% interest. How much would you need to deposit in the account each month? Submit Question .com/course/showcalendar.php?cid=179278 Search

If you earn 5% per year on your bank account, how long will it take an account with $110 to double to $220? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

You have saved 18,000$ for a down payment on a house. Your  bank requires a minimum down payment of 11%. What is the maximum price you can offer for a home in order to have enough money for the down payment? Round answer to two decimal places.

A man borrows $60,000 to help pay for his college expenses.  He intends to pay off the loan with regular monthly payments over the next 20 years.  Find the monthly payment if he is being charged 4.7% interest per year, compounded monthly.   Give the answer to 2 decimal places, and do not use the $ sign in the answer box. The monthly payment is  Blank 1. Calculate the answer by read surrounding text. dollars.

A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $1, 100 per month for the next three years and then $2, 200 per month for two years after that. If the bank is charging customers 7.75 percent APR, how much would it be willing to lend the business owner? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

2. Say you purchase a computer for $1300 at 7% interest and want to have it paid off in 48 months. Use the simple interest formula. a) Calculate the monthly payment necessary to pay off the principal and the interest.   b) Calculate the APR. Write out the formula first to show your work.

You wish to buy a $10,900 dining room set. The furniture store offers you a 2-year loan with an APR of 7.2 percent. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

You want to buy a nice road bike. You place $2,400 each year in an investment account that earns 4% compounded annually. How much will be in the account after (a) two years, (b) three years, or (c) four years? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (EV of $1. PV of $1. EVA of $1, and PVA of $1) a. b. C Annuity Annual Interest Payment Rate Compounded $ 2,400 2,400 2,400 4% Annually 4% Annually 4% Annually Period: Invested 2 years 3 years 4 years Future Value of Annuity

You want to buy a house for $250,000.  The bank requires a down payment of 25%.  What is the amount of the mortgage loan the bank will provide for you?  Round to the nearest $ and use the $ symbol.