To buy some furniture, Asmaa can put $150 down and "don't pay a cent" for 6 months. At the end of 6 months, she begins making monthly payments of $100 for 2-years. If j12 = 8.4%, what is the equivalent cash price of the furniture?

Faye wants to save $90 000 in 3 years for a down payment on a house. She plans to make equal monthly payments of $2233.69 into an account earning 7.6% per year compounded monthly. How would Faye's monthly payments change if she saves for twice as long, 7 years? Her payments would be less than half O a) as much. O b) Her payments would increase. Her payments would be exactly half as c) much. d) Her payments would decrease but be more than half as much.

An investment product offers a monthly rate of return of 5%. If Amy invests $1,000 today for this product, how long does it take for Amy's money to grow to $1,500?

Sylvia wants to buy a car and feels that she can afford payments of $200 per month (month-end payments) for five years. Using an interest rate of j12-4.8%, what is the most expensive car that she can buy? Your Answer:

You plan to graduate in 4 years, and then travel to Italy for 3 weeks. The trip will cost $1,500. If you can earn an annual interest rate of 8%, how much do you have to save right now to have enough money for your trip? Instead, the interest rate is 0.667% per month. How much do you need to save right now?

You want to save 10,000 for a down payment on a home by making regular monthly deposits over 4 years. Take the APR to be 7.5%. How much do you need to deposit each month?

A year after buying her car, Anita has been offered a job in Europe.Her car loan is for $27,000 at a 6% nominal interest rate for 48 months. If she can sell the car for $20,000, how much does she get to keep after paying off the loan? 6-61 (a) You are paying off a debt at a nominal 8% per year by paying $400 at the end of each quarter for the next year. Find the interest paid in the last $400 payment. (b) If this debt were to be paid off in two equal payments of $1650 at the end of this year and next year, find the interest paid in the first $1650 payment. Again the loan rate is a nominal 8% per year compounded quarterly.

You are going back to school and anticipate you will need 25,000 a year for living expenses for 6 years. How much do you put away at 4%?

To buy some furniture, Asmaa can put $150 down and "don't pay a cent" for 6 months. At the end of 6 months, she begins making monthly payments of $100 for 2-years. If j12 = 8.4%, what is the equivalent cash price of the furniture? Do not give excel answer, need well explained

A student needs to borrow $9,000 to pay for college. She can get the loan at an APR of 10% to be paid off in monthly installments over the next 4 years. If she decides to pay the loan off in monthly installments over 3 years instead of 4 years at the given APR, how much money will she save altogether? Round your answer to the nearest cent.) 62.14