Marilyn was supposed to pay $1,620 to Bernice on March 18. Some time later Marilyn paid Bernice an equivalent payment of $1.672.63, allowing fora time value of money of 2.4% compounded monthly. When did Marilyn make the payment? (Do not round your Intermedlate calculatdons and round your answer to the nearest month.) Marylin made the payment months later.

Kia deposited $1,300, at the BEGINNING of each year for 26 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. $95,037.72$103,940.74     $112,256.00$113,556.00

Jill Walsh purchases a bedroom set for a cash price of $3,920. The down payment is $392, and the monthly installment payment is $176 for 24 months. Find (a) the amount financed, (b) the finance charge, and (c) the deferred payment price.

On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $135 from her checking account at the end of each month and deposit it into her Christmas Club account, where it will earn 6 7/8% interest. The account comes to term on December 1. (Round your answers to the nearest cent.) (a) Find the present value of the given annuity.(b) Interpret the present value of the given annuity. You would have to invest a lump sum of $  now instead of $135 per month.

Anne purchased an annuity from an insurance company that promised to pay her $17,000 per year for the next 10 years. Anne paid $130,050 for the annuity, and in exchange she will receive $170,000 over the term of the annuity. Required: a. How much of the first $17,000 payment should Anne include in gross income? Note: Do not round intermediate calculations. b. How much income will Anne recognize over the term of the annuity?

Faisal has insured his vehicle with AXA insurance company. Throughout the year he experiences a loss in January costing 1,577, another in May costing 1,284 and the last in December costing 1,102. If Faisal has an aggregate deductible of 2,574. How much will the insurer pay?

On August 1, Rachael Westlake joined a Christmas Club. Her bank will automatically deduct $105 from her checking account at the end of each month and deposit it into her Christmas Club account, where it will earn  6 7 8 %  interest. The account comes to term on December 1. (Round your answers to the nearest cent.) (a) Find the present value of the given annuity.$  (b) Interpret the present value of the given annuity. You would have to invest a lump sum of $   now instead of $105 per month.

Britta has been accepted into a 2-year Medical Assistant program at a career school. She has been awarded a $6,000 unsubsidized 10-year federal loan at 4.29%. She knows she has the option of beginning repayment of the loan in 2.5 years. She also knows that during this non-payment time, interest will accrue at 4.29%. Britta made her last monthly interest-only payment on May 5. Her next payment is due on June 5. What will be the amount of that interest-only payment? Round your answer to the nearest cent. *

Reese contributed $250.00 every month into an RRSP for 5 years. What nominal annual rate of interest will the RRSP earn if the balance in Reese's account just after she made her last contribution was $16,750.00? The nominal annual rate of interest is % compounded monthly. (Round to two decimal places as needed.) C

Luoxana contributed $5,000.00 every year into an RRSP for 18 years. "What nominal annual rate of interest will the RRSP earn if the balance in Luoxana's account just after she made her last contribution was $195,000.00?