initially invest $5, 000 into an account, and at the end of the first year, invest another $5, 000. At the end of the third and fourth year you withdraw X from the account. For any withdrawal, there is penalty of 1% on the amount withdrawn. Find X if the account has $10, 000 in it at the end of the fifth year, and the account earns an effective annual interest rate of 7% for the the entire five years

You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of 3.9 percent per year, compounded monthly for the first six months, increasing thereafter to 18.8 percent per year, compounded monthly. Assuming you transfer the $19,000 balance from your existing credit card and make no subsequent payments, how much interest will you owe at the end of the first year? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Interest owed

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your credit card has a balance of $4,500 and an annual interest rate of 16%. you decide to pay off the balance over 3 years. if there are no further purchases charged to the card, a.- how much must you pay each month? b.-what is the total interest paid over 3 years?

You currently have a balance of $9,000 and you pay an interest rate of 17% per year on the card.  Your minimum payment is 3% of the statement balance.  If you pay the minimum balance for 10 months, what will be your new balance?

You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of 1.8 percent per year, compounded monthly for the first six months, increasing thereafter to 17 percent compounded monthly. Assuming you transfer the $6,900 balance from your existing credit card and make no subsequent payments, how much interest will you owe at the end of the first year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

You have a loan outstanding. It requires making nine annual payments of $5,000 each at the end of the next nine years. Your bank has offered to allow you to skip making the next eight payments in lieu of making one large payment at the end of the loan's term in nine years. If the interest rate on the loan is 4%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment? The final payment the bank will require you to make is $ (Round to the nearest dollar.) I

You expect to have the given amount in an account with the given terms. Find how much you can withdraw periodically in order to make the account last the specified amount of time. Round your answer to the nearest cent. Account balance: $700,000 Interest rate: 4.65% monthly 17 years Frequency Time: Periodic Withdraw: $

You deposit $83000 into an account which pays 6% compounded semiannually. How much can you withdraw at the end of every six months forever?

David went to the bank and opened a 54 month CD compounded monthly with an APR of 4.22%.  He deposits $4,200 into the CD.  What will be the value of the CD when it comes to term? How much interest will the CD earn? What is the total percent increase?