1. Ken is paying 2,500 every 3 months for the amount he borrowed at an interest rate of 8% compouneded quarterly. How much did he borrow if he agreed that the loan will be paid in 2 years and 6 months? 2.  A store advertises a motorcycle for 3,000 downpayments and 3,000 per month for 15 months. If the interest is 15% compounded monthly, what is the actual value of the motorcycle?

Q: How much more is a perpetuity of $2,000 worth than an annuity of the same amount for 10 years?…

A: Formula using here,  PV of perpetuity =Amountinterest rate =20004%=$50,000

Q: In 2012 the maximum social security deposit by an individual was $8,386.75. Suppose you are 30 and…

A: Given that The yearly deposit amount PMT=$8386.75Interest rate r =3%=3100=0.03Componded annually ,…

Q: The graph of a function f is shown below. For what value of t is f f (x) dx the largest? VA -2 -1 0…

A:

Q: Pesse Jinkman, a chemistry student at PCC, will be depositing $15,000 at the end of every quarter…

A:

Q: Manhattan Island is said to have been bought from the Indians by Peter Minuit in 1626 for 24…

A: we have to find the compound interest annually with the given formula A(t)=P1+RNNT Where, A = Amount…

Q: A borrower had a loan of $20,000.00 at 6% compounded annually, with 12 annual payments. Suppose the…

A: Given information Loan amount P=$20,000 Interest rate r=6% compounded annually ⇒r=6100=0.06 As loan…

Q: What size payments should occur when $8,000 is borrowed at 8% per year compounded quarterly and the…

A: Given: The present value of the loan, PV=$ 8,000           Number of payment periods, n=8…

Q: Rose has saved $160,000. If she decides to withdraw $2500 at the beginning of each month knowing the…

A: From the given, Amount (A) = $160,000 Principle amount (P) = $2500 Rate = 5% per annum Then R =0.052…

Q: John wants to retire with $10,000 per month, how much principal is necessary to generate this amount…

A: Use the formula I=Prt100, where P is principal, and r is the rate of interest, t is the time.,…

Q: Suppose you have budgeted $ 1130 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Given that, the monthly payment towards a mortgage is $1130, the number of years is 30 years and the…

Q: When Maria Acosta bought a car  2 1/2  years ago,  she borrowed $11,000 for 48 months at 7.8%…

A: Step 1: Determine the total number of payments made so far.Maria has been making payments for 2 and…

Q: Suppose your friend,halima, who lives new york  received an unexpected inheritance of $1,000,000 and…

A:

Q: On July 10, Isabella opened a savings account with $900. It earned 3% interest, compounded daily. On…

A: To find out the amount at the end of the day on July 11.

Q: Harry is 30 years old and plans to retire at age 70 years with $1,200,000 in his retirement account.…

A: We have given A=$1,200,000  ,r=2.75% t=70-30=40 years compounded quartly (n)=4we know the formula…