The average monthly balance in Joy's bank account is $1,500. Joy spends the same amount of money each day during a 30-day month, and at the end of the month, her account balance is $0. At the constant rate of per day Joy spends her money? $70 $40 O $100 $50

Loan servicing includes a number of responsibilities such as collecting monthly mortgage payments from the borrower, remitting principal and interest payments to investors, ensuring sufficient escrow payments are being made by the borrower, and managing default if it should arise. In exchange for these services, mortgage bankers receive a fee. If the outstanding loan balance is $250,000 and the annual servicing fee is 0.35%, what is the monthly fee for servicing the loan? Please explain your calculation A) $72.92 B) $729.17 C) $875.00 D) $8,750.00

Many retirement funds charge an administrative fee equal to 0.25% on managed assets.  Suppose that Alex and Spenser each invest $50,000 in the same year. Alex invests in a no-load fund (that doesn’t charge the 0.25% fee) and earns 5% a year.  Spenser uses another retirement fund that charges the 0.25% fee and so only earns 4.75%.  After 30 years, how much more will Alex have than Spenser?

Mary's job position is being transferred to Lexington Kentucky from Orlando Florida. She and her husband George are currently running their home in Orlando but they have decided they want to purchase a home in Lexington. Mary's annual salary is $48,500. George has been able to find employment in Lexington at a factory making $39,000 per year. Mary is a planner and has saved $6,200 that she can use towards the down payment on the new house. To save the down payment Mary deposited in a savings account monthly earning 2.5 compounded monthly. If it took Mary 5 years to save up the down payment how much money was mary depositing each month

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