Kevin wants to start saving money for his sons college education. How much money must he deposit now into a savings account with an interest of 3% compounded daily so that he will have 45,000 in 15...
Kevin wants to start saving money for his sons college education. How much money must he deposit now into a savings account with an interest of 3% compounded daily so that he will have 45,000 in 15...
Diana invest $25,000 in the bank in at the beginning of the year. She will receive 7% interest at the end of the year but she will have to pay a 16% tax on the interest received. How...
$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
I hate this question help
Janice is an interior designer and wants to borrow $5000 so she can attend a trade show in New York. Her credit union has offered her an insecure line of credit at an annual rate of 9.25% compounded...
Need help. Interest question for finite math
Suppose you have a 15-year loan for $314,000 with an APR of 6%. Using your calculator or Excel, make a table showing the amount of interest paid, the amount of principal paid, and the ending...
Jo borrowed money from her brother at 5% simple interest. At the end of 1 year she owed $1417.50 in principle and interest. (principal is the amount originally borrowed) How much did she borrow and...
For a reducing balance loan of $180000 at 9% p.a. over 12 years with fortnightly repayments of $932.75 what is the total interest payable?
$4800 is invested at 3.2% APR compounded semiannually. Use the compound interest formula to compute the balance in the account after 14 years. Balance =____$ (Round to the nearest...
Given an APR of 3.00%, calculate the APY for each of the following. (Round all answers to the nearest thousandth of a percent.) Annually %= Quarterly %= Monthly %= Daily...
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...
Suppose you are going to need $12,000 in 15 years. If you can get an average of 6.1% APR compounded daily over that time, how much would you need to deposit now in order to meet your goal?
Calculate the amount of money you will have in the following account after 10 years, assuming that you earn simple interest. You deposit $875 into an account with an annual interest rate...
find the monthly interest rate when APR = 9
present value of an annuity?
Bank account A begins with a deposit of 2000 dollars and earns 4.75% simple interest annually. Bank account B also begins with 2000 dollars and earns 4.75% interest compounded annually. Bank...
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...
Suppose you are going to need $12,000 in 15 years. If you can get an average of 6.1% APR compounded daily over that time, how much would you need to deposit now in order to meet your goal?
Bank account A begins with a deposit of 2000 dollars and earns 4.75% simple interest annually. Bank account B also begins with 2000 dollars and earns 4.75% interest compounded annually...