When Rachel borrowed $2400, she agreed to repay the loan in two equal payments, to be made 90 days and 130 days from the day the money was borrowed. If interest is 8.25% on the loan, what is the size of the equal payments if a focal date of today is used?

You inherited $12,000 from your Great-Uncle Michael. If you invest it and average an 8% annual rate of return (compounded annually), how much will you have in 20 years?

Payment of $883 due 2 months ago and $435 due today are to be repaid by a payment of $400 one month from today and the balance in 11 months from now. If money is worth 6% compounded monthly, and the agreed focal date is 11 months from today. What is the size of the final payment?

A person is planning to open a retirement account. He plans is to deposit $1,000 per month for next 45 years. This person visits four local banks and recorded the interest rates: Bank A) 0.08% per month compounded monthly Bank B) 6.2% per year compounded continuously Bank C) 8% per year compounded monthly Bank D) 7% per year compounded semi-annually Determine 1) Which bank should be selected? 2) How much money will be accumulated in 45 years in the selected bank?

You plan to deposit $100 per week into a fund that pays interest of 6% per year, compounded quarterly. Identify the interest period, compounding period, and number of times interest is com-pounded per interest period. Additionally, include the cash flow diagram. Could I please get help with question without the use of excel.

Barbara borrowed a certain amount of money and repaid the loan with ten payments. The first five of her payments were P5631 per year with an interest rate of 8% per year compounded continuously, and the next five years had payments of P12318 per year with 12% compounded continuously. How much did she borrow?

Ahmad wants to borrow KD10,000 now from a bank to purchase a new car. He would like to .1 repay the loan in equal quarterly payments over 20 years. Find the unpaid balance after the 64th payment if the effective interest rate is 5% per quarter

Suppose you start saving for retirement when you are 45 years old. You invest $5,200 the first year and increase this amount by 2% each year to match inflation for a total of 15 years. The interest rate is 7% per year. How much money will you have saved when you are 60 years old? Click the icon to view the interest and annuity table for discrete compounding when i = 2% per year. Click the icon to view the interest and annuity table for discrete compounding when i = 7% per year. When you are 60 years old, you will have saved $. (Round to the nearest dollar.)

You borrow $20,000 to purchase a car and will repay the loan in uniform monthly payments for the next 48 months. The first payment is due one month after the purchase of the car. If the interest rate is 1% per month, determine the amount of your monthly car payment. Assuming you make each payment as scheduled, how much total interest will you pay over the four-year period?

1. John Doe Co., a company that makes tractors, budgeted $75,000 per year to pay for certain components over the next 6 years. If the company expects to spend $16,000 in year 1, how much of a uniform (arithmetic) increase each year is the company expecting in the cost of this part? Assume the company uses an interest rate of 10 % per year.