Sarafina is making monthly payments into an annuity. She wanrs to have $800 in the fund to huy a new convection range in three months, and the account pays 9.6% annual interest. What are her monthly payments to the account?

Sarafina is making monthly payments into an annuity. She wanrs to have $800 in the fund to huy a new convection range in three months, and the account pays 9.6% annual interest. What are her monthly payments to the account?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Similar questions

Kelly purchased her first new car last week for $20 406, taxes included. The loan representative at Kelly s bank quoted her a monthly payment of $423.59 for 5 years. How much will Kelly have paid for the car in 5 years time? How much interest did Kelly end up paying? Calculate the approximate value of the car after 5 years, if it depreciates at a rate of 20% per year.
Find the simple interest Jolie owes on a 2-year loan for $8,000 to buy a used car at the rate of 9% interest.
A loan of 750000 needs to be paid in annual installments by the end of every year. The interest rate is 8% for the first 8 years, 6% for the next 10 years, and 3% for the following 10 years. What is the value of the installment?
Harrison has received a job offer from a large investment bank as a clerk to an associate banker. His base salary will be $55,000. He will receive his first annual salary payment one year from the day he begins to work. In addition, he will get an immediate $10,000 bonus for joining the company. His salary will grow at 3.5 percent each year. Each year he will receive a bonus equal to 10 percent of his salary. Harrison is expected to work for 25 years. What is the PV of the offer if the discount rate is 9 percent?
Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of $137,090.97. What interest has accrued over 30 years?
Suppose you want to have $500,000 for retirement in 30 years. Your account earns 6% interest. How much would you need to deposit in the account each month?
How can I set up and evaluate this flux integral? F(x,y,z) = < 0 , 0 , z2 > through the upper hemisphere of the sphere x2+y2+z2=16, oriented away from the origin. I would like to solve this using sphereical coordinates, too. Thank you!
José bought a motorboat for $ 27,000. Its useful life is 9 years and it has a residual value of $ 1,620. Indicates the depreciation and the present value of the motor at the end of the period, respectively.
A loan for a new tractor is to be simple interest. The rate is 7.2% for 6 years on $43,400. How much should each payment be?
Beth has a $12 000 student loan that she needs to repay. Payments are made monthly for the next 2 years, with interest calculated at 9% per year, compounded monthly. How much are Beth's monthly payments?
Jimmy deposits $4000 at a bank with an interest rate of 4.5% per year and he has no plans of withdrawing any amount in the future. How much money will he save after 18 years?
Ms. Drake invests $1000 at a simple interest rate of 8.5% for 2 years. How much interest will she earn in this time