Mike S.

asked • 11/14/14

business math help no clue.

3. True or False The time of a loan could be expressed in months, years, 0r days.

4. True or false Interest= principal x rate

7. Amy Koy met Pat Quin on September 8 at Queen bank. After talking with Pat, Amy decided she would like to consider a $9,000 loan at 10 1/2% to be repaid on February 17 of the next year on exact interest. Calculate the amount that Amy would pay at maturity under this assumption. Round all answers to the nearest cent.

8. Paul Lospennato wants to buy a house. Five years from now, he will need $90,000. Paul wants you to calculate how much he needs today to put in the bank (10% semi annually) to reach his goal in the future.

9. oxie Fox deposited $30,000 in a savings account at 6% interest compounded semiannually. at the end of four years, what is the balance in Moxie's account?

10. jang ring estimates she will need $35000 for a new computerized office system. Janet decided to put aside the money today so it will be availble in 10 years. Pod Bank offers janet 8% interest compounded semiannually. How much must janet invest to have $35,000 in 10 years?

11. Lou Valdez is buying a truck. His monthly interest was $155 at 10 1/4% interest. What is Lou's principal balance after the beginning of November? Use 360 days. Do not round the denominator in your calculator.

12. Marcia Gadzera wants to retire in San Diego when she is 65 years old. Marcia is now 50 and believes she will need $90,000 to retire comfortably. To date, she has set no retirement money. If she gets interest of 10% compounded semiannually, how much must she invest today to meet her goal of $90,000?

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