James receives $6497 at the end of every month for 4 years and 3 months for money that he loaned to a friend at 1.6% compounded monthly. How many payments are there in this annuity? Round up to the next payment Answer:

Q: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: In 6 years Harry and Sally would like to have $24,000.00 for a dow use. How much should they deposit…

A: In this question, the monthly payment is to be calculated using the formula. M1-1+i-ni=A

Q: A lump sum of 4190 dollars is invested in an annuity that pays 9.2 percent interest compounded…

A:

Q: Sam borrows $28 000 to buy a new car at a flat interest rate of 9% per annum over 3 years. How much…

A: It's a question of flat (simple) interest rate. We will calculate interest, add the same to the…

Q: Peter purchased a cottage for $360,000. He paid $32,500 down and agreed to make equal payments at…

A: Solution-The price of the cottage =$360000Down payment=$32500Rate(r)=3.2% or 0.032Time(t)=8…

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: $102 is invested in an annuity at the end of every month at 8.5%.  Find the value of the annuity at…

A:

Q: Jenny invests $9,000 at 8% compounded annually in an annuity. How long until Jenny has $18,000

A:

Q: Don borrows P5000 for 2 years at 4% per annum simple interest. He 1 immediately lends it to another…

A:

Q: Mark deposits $1000 at the end of every 6 months in his bank account. If the bank pays 6% compounded…

A: Given, Mark deposits $1000 at the end of every 6 months in his bank account. If the bank pays 6%…

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: accumulate enough money for a down payment on a house, a couple deposits $597 per month into an…

A: We will find out the required value.

Q: borrows $6,500, at  6 1 2%  interest, for 150 days. If the bank uses the ordinary interest method,…

A:

Q: Mary deposits $9,000 in a bank account that guarantees a simple interest rate of 7.5% per year. How…

A:

Q: Fritz buys a car costing $10,500. He agrees to make payments at the end of each monthly period for 8…

A: P = 10500 r = 9.6% = 9.6/100 = 0.096 t = 8

Q: John invests $1,500 at 6% annual interest compounded continuously. How much is in the account after…

A: We can make it easier to get it.

Q: You take out a loan to purchase a car for $7600. The bank offers you 3.8%, compounded monthly for 4…

A: Interest = $ 26525.22

Q: An individual borrowed ​$78,000 at an APR of 3​%, which will be paid off with monthly payments of…

A:

Q: Kelly paid off his student loan in 3 years by making payments of $650 at the beginning of every…

A:

Q: Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

A: ANSWER :

Q: Find the interest due on $1,400 at 9% for 270 days

A:

Q: You can afford monthly deposits of $250 into an account that pays 2.4% compounded monthly. How long…

A:

Q: Hannah is buying a house in Prince Edward Island. She paid $45000 cash when she bought the house and…

A:

Q: John made periodic deposits of $300 to Floor Bank, which pays 8% interest compounded semiannually.…

A: Given: The value of Periodic Deposit is $300 The value of Annual Interest Rate is 8.00% compounded…

Q: Kevin takes out a $350 000 mortgage for 30 years at 2.05% annual interest compounded quarterly. His…

A: The EMI i.e. the monthly payment required to be done by Kevin includes the interest component to be…

Q: To help pay for college expenses, Julie Davis borrowed $10,000 at 7% interest compounded…

A: Given data, Principal P=$10,000 Rate r=7%=0.07 Time t=8 years Compounded semi-annually n=6

Q: huy wants to purchase a lakeside condo in Cuba, Missouri, 20 years. Huy will invest in a mutual fund…

A: Step 1: Given Value for Calculation Compound = Semiannually = 2Time = t = 20 * 2 = 40Interest Rate =…

Q: You deposited $900 into a savings account paying 2% compounded quarterly. Two years later, you…

A: Given:  You deposited $900 into a savings account paying 2% compounded quarterly. Two years later,…

Q: Fritz buys a car costing $8100. He agrees to make payments at the end of each monthly period for 6…

A: