1. How much is your loan amount today if you are going to repay using 80 equal monthly payments of $266 with annual interest of 4.2 percent but assuming monthly compounding? Answer to the nearest dollar amount, and enter without the dollar sign
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
1. How much is your loan amount today if you are going to repay using 80 equal monthly payments of $266 with annual interest of 4.2 percent but assuming monthly compounding?
Answer to the nearest dollar amount, and enter without the dollar sign
2.
If you deposit $10,000 dollars into a savings account, what interest would you need to be earning to have $16,850 dollars in the same account 6 years later?
Answer as a percent and to the nearest hundredth of a percent
3.
Calculate the total present value of the following three cash flows: $98 obtained one year from today, $28 obtained two years from today, and $26 obtained three years from today. Use 10.2% as the interest rate.
Answer to the nearest cent
4. You will receive annual payments of $4,000 at the end of each year for ten years (10 payments). The first payment will be received in year 3. What is the present value (at t=0) of these payments if the discount rate is 9 percent.
5.
You have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $250,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal?
Answer to the nearest whole number of years.
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