You are interested in saving for a trip when you graduate in three years. You can save $75 each of the next 36 months and earn 2.75% interest on your money. How much money would you have in your savings account in 36 months for your trip? ( Please reference the loan infromation in the "Task 5 Data " cells as the argument for your functions

In order to start a small​ business, a student takes out a simple interest loan for ​$3000 for 9 months at a rate of 11.25​%.   a. How much interest must the student​ pay? b. Find the future value of the loan.

Choose the best answer to the following question. Explain your reasoning with one or more complete sentences. What does a loan of $400,000 that carries a 4-point origination fee require as an advance payment? Choose the correct answer below. A. An advance payment of $1,600 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $400,000. B. An advance payment of $16,000 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $400,000. OC. An advance payment of $8,000 is required. Each point is 1% of the loan amount, so the advance payment amount is 4% of $400,000. OD. An advance payment of $16,000 is required. Each point is 10% of the loan amount, so the advance payment amount is 40% of $400,000. E. An advance payment of $8,000 is required. Each point is 10% of the loan amount, so the advance payment amount is 40% of $400,000. OF. An advance payment of $1,600 is required. Each point is worth between 50 and 100 points…

Answer the Financial Literacy question below in the screenshot.

For the Questions 3-5 assume you want to finance (borrow) $12,000 for your next car and your interest rate will be 6%. 3. What will be your monthly payment and the total amount paid over the life of the loan if you finance for 48 months? Provide the car payment and the TVM inputs you used to calculate the payment. Рayment Total of all payments PV FV RATE/INTEREST PERIODS/N (See next page for Questions 4 and 5)

Answer the following question using a spreadsheet and the material in the appendix. You would like to buy a house. Assume that given your income, you can afford to pay $12,000 a year to a lender for the next 30 years. If the interest rate is 7% how much can you borrow today based on your ability to pay? What about if the interest rate is 3%? Maximum mortgage at 7%: $     Maximum mortgage at 3%: $

With the given information please confirm if my calculations for how many years it will take to pay off this loan are correct.  I need to use excel formulas. Amoutn of loan: 50,000 annual payment 10,000 interest rate: 8% I used the NPER function on excell and my answer was 6.64 years, is this correct?

2. Say you purchase a computer for $1300 at 7% interest and want to have it paid off in 48 months. Use the simple interest formula. a) Calculate the monthly payment necessary to pay off the principal and the interest.   b) Calculate the APR. Write out the formula first to show your work.

Solve the following problems without using any software, do everything in digital format, explain the formulas, substitutions and result 3. A person has available the amount of $ 1,250,000 he wants to use to ensure a fixed monthly income for the next three years. For this purpose, deposit that amount in a revolving bank account every 30 days and a monthly interest rate of 0.8% (9.6% per year). Assuming the interest rate was held constant, what amount should you withdraw each month so that by the end of the three years the amount initially deposited would have been completely used up?

Your credit score is in the range of 720-739 and you want to buy a house in Davis (CA). You have 20% down payment to put on a house that has a market value of $450,000. a) Use www.bankrate.com website to identify the bank with the most convenient APR for your 30- year fixed mortgage and accordingly calculate your annual payment. Ignore external and additional costs in your calculation that may vary from one bank to another b) After 20 years of annual payment, how much you should pay in lump sum to your bank to end up all your debts. Ignore penalties or any other additional cost c) According to your finance, your maximum annual payment for your mortgage cannot exceed $24,000. Under this condition, how much should be your minimum down payment for your mortgage?