You find that the going rate for a home mortgage with a term of 30 years is 4.5% APR. The lending agency says that based on your income, your monthly payment can be at most $750 . How much can you...
You find that the going rate for a home mortgage with a term of 30 years is 4.5% APR. The lending agency says that based on your income, your monthly payment can be at most $750 . How much can you...
assume that all interest rates are compound continously
A bank loaned out $9,500, part of it at the rate of 3% annual interest, and the rest at 4% annual interest. The total interest earned for both loans was $325.00. How much was loaned at each rate?...
what's the formula?
$6,000 account yields a 5.00% interest rate. How much must be added to this account so the total interest yields amounts to $1,000
The annual interest on a $6000 investment exceeds the interest earned on a $1000 investment by$517. The $6000 is invested at a 0.7% higher rate of interest than the $1000. What is the interest rate...
An investment of $6,000 is earning 4% interest compounded annually. How long will it take for the investment to double? (Round your answer the whole number)
unsure how to set up. i keep getting fractions.
An investment is of $4,600 is made at an annual simple interest rate of 6.8%.How much money must be invested at an simple interest rate of 9% so that the total interest earned is 8% of the total investment...
Diana invested $3000 in a savings account for 3 years. She earned $450 in interest over that time period. What interest rate did she earn? Use the formula I=Prt to find your answer, where I is interest,...
Suppose you want to have enough money in the bank 45 years from now (when you retire) so that the interest on the account would be enough to live on each year from then on. If you'll need $80,000...
What is the flat rate of interest per annum if a car is $15790 and is paid with a $500 deposit and $92 per week over 5 years?
Suppose you deposit $12,000 in a bank account bearing 8.8% interest compounded monthly. How many months would it take (to the nearest month) for your account balance to top $15,000? Use...
Kelly wants to accumulate 1 million dollars by investing a lump sum into an IRA (Individual Retirement Account) and letting it grow for the next 45 years. After researching different IRA's...
Fred invests $1500 at 2.5% APR compounded weekly, and George invests $1500 at 2.55% APR compounded weekly. How much money does Fred have after 11 years? How much...
How do I solve this???????????????????????????????????
a xerox machine is available for rs 78000 or for 331/9% cash down payment and 11 equal monthly installments of rs 4900 each. what is rate of interest charged?
I was doing a homework problem on how inflation would affect savers and borrowers, but I don't get how savers would be hurt if they receive a fixed-interest-rate. Suppose that I'm a saver and have...
Marleen is investing in a money market account. Find the principal of Marleen's investment if the interest earned is $2860.00 after 4 years at a rate of 5%
I have no additional information. I tried computing the rate of interest for 1 month and got 25%. Then I tried to compound the interest rate (.25 tothe twelfth power).