Phil purchases some music equipment for $5680. He pays a 15% deposit, with the balance to be paid in equal monthly instalments at a flat rate of 9% p.a. interest over 4 years. (i) How much is still owing (the balance) after the deposit has been p (ii) What is each monthly instalment?

In order to pay off a debt that he took out today, Roger will have to make a payment of $3,500 in 15 months and $5,500 in 36 months. The interest rate is 8% compounded quarterly. What is the total amount of interest that is included in these payments?

Fritz Benjamin buys a car costing $14200. He agrees to make payments at the end of each monthly period for 6 years. He pays 6.0% interest, compounded monthly. What is the amount of each payment? Find the total amount of interest Fritz will pay.

Wade Ellis buys a new car for $16,447.22. He puts 10% down and obtains a simple interest amortized loan for the rest at at 11.5% interest for four years. (Round your answers to the nearest cent.)   (a) Find his monthly payment.$ (b) Find the total interest.$ (c) Prepare an amortization schedule for the first two months of the loan. PaymentNumber PrincipalPortion InterestPortion TotalPayment Balance 0       $ 1 $ $ $ $ 2 $

John bought a boat valued at $26,900 on an installment plan requiring equal weekly payments for 4 years. The interest rate is 5.45% compounded annually. Round dollar amounts to 2 decimal places. a) What is the size of each weekly payment? Mode N= P/Y= C/Y= PMT= b) How much would the weekly payments be if John made a $4,200 down payment? PMT- N 4

Blake Hamilton has money in a savings account that earns an annual interest rate of 3%, compounded monthly. What is the APY (in percent) on Blake's account? (Round your answer the nearest hundredth of a percent.)

Kevin received a $1800 bonus. He decided to invest it in a 3-year certificate of deposit (CD) with an annual interest rate of 1.26% compounded quarterly.   1. Assuming no withdrawals are made, how much money is in Kevin's account after 3 years? 2. How much interest is earned on Kevin's investment after 3 years?

On September 8, Bert Sarkis started an annuity. He arranged to have $60 deducted from his end-of-month paychecks. The money would earn 7% interest compounded monthly. (a) Find the future value of the account on December 1 using an Amortization Formula. (Round your answer to the nearest cent.) $ 10280 X (b) Find the future value of the account on December 1 by applying the Compound Interest Formula to each payment individually. (Round your answer to the nearest cent.) 5.75 X (c) Find Bert's total contribution to the account. $ 2356.176 x (d) Find the total interest. (Round your answer to the nearest cent.) $ 7923.824 X

A. Zoey deposits $500.00 every quarter into an account earning 5% interest compounded quarterly. How much will Zoey have in the account in 15 years? Zoey will have $44287.25 in the account in 15 years. B. Alternatively, Zoey could make a single deposit into an account earning 5% compounded quarterly for 15 years. How much would the lump sum deposit (single deposit) have to be in order to have saved the same amount of money in the account? Zoey would have to make a lump sum deposit of_____

Three years ago, ZYX deposited $2,590 in an account that has earned and will earn 8.60 percent per year in compound interest. If CAB deposits $3,690 in an account in 2 years from today that earns simple interest, then how much simple interest per year must CAB earn to have the same amount of money in 6 years from today as ZYX will have in 6 years from today? Answer as an annual rate. 19.32% (plus or minus .05 percentage points) 11.87% (plus or minus .05 percentage points) 3.79% (plus or minus .05 percentage points) 2.52% (plus or minus .05 percentage points) None of the above is within .05 percentage points of the correct answer