The starting balance is 300, the yearly interest is 24%, the monthly purchase is 450, and the min pmt is 100 or balance if less. What is the ending balance? Solution: 300 + 2% of 300 + 450 - 100= 300 + 6 + 450 - 100= 656. Now, start a new cycle in which the monthly purchases are only $75 and compute the ending balance. Note: the end balance from example is beginning balance for exercise

Please help: A savings plan James begins a savings plan in which he deposits $100 at the beginning of each month into an account that earns 9% interest annually or, equivalently, 0.75% per month. To be clear, on the first day of each month, the bank adds 0.75% of the current balance as interest, and then James deposits $100. Let Bn be the balance in the account after the nth payment, where Bn = $0. Write the first five terms of the sequence {Bn}. Find a recurrence relation that generates the sequence {Bn}. How many months are needed to reach a balance of $5000?

Sascha owns stock in Lewis Corp and she bought a $5,000 corporate bond. She received $52.50 in quarterly interest from the bond. Sascha also owns stock in Lewis Corp which is worth $46 per share, and it pays a $2 annual dividend.   Part A Which is higher, the yield on the stock or the annual interest rate on the bond? Show your work and explain how you determined your solution.   Part B If the bond matures in seven years, how much will Lewis Corp have paid Sascha in total?   Part C If Sascha owns 1,500 shares of Lewis Corp, how much would she receive in annual dividends? Part D If Lewis Corp later offers corporate bonds at an annual interest rate that is one percent higher than half the  of the bond Sascha bought, create an equation that models the quarterly interest earned, q, for any given bond face value, v.

How many year if the cost price is 86% of the selling price, then what is the profit percent? und Interest forest to be earned on interact With