2. What equal payments at the beginning of each 2 months for 4 years will discharge a debt of P 18o, o00 due now if the interest rate is 18.48% compounded every 2 months?

Q: Cyrus deposit $744.88 Each quarter into an annuity account for his child college fund. He wishes to…

A: Given that Cyrus deposited $744.88 each quarter into an annuity account. The future value he wish to…

Q: Joe secured a loan of $15,000 five years ago from a bank for use toward his college expenses. The…

A: Given: Joe secured a loan of $15,000 five years ago from a bank for use toward his college expenses.…

Q: Dick Eckel recently set up a TDA to save for his retirement. He arranged to have $135 taken out of…

A:

Q: Callie calculates the monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate. With…

A: Given : The monthly payment is $578.92 for a 30 year $255.00 mortgage with a 3% rate.

Q: Your uncle still wouldn't help you after you found your new job. The bills are right this month, so…

A: Solution:- Your uncle still wouldn't help you after you found your new job. The bills are right this…

Q: Consider a credit card with a balance of $8000 and an APR of 21%. If you want to make monthly…

A: According to the given data, find the total amount:

Q: A business must pay an annuity of $ 20,000 quarterly with j4 = 5%. Calculate the semester payment to…

A:

Q: Calculate the simple interest due on a 45-day loan of $1600 if the interest rate is 8.7%

A: P=principle=1600r=interest rate=8.7%=0.087t=time=45 day=45365 yearI=interest

Q: In terms of paying less in​ interest, which is more economical for a ​$60,000 mortgage: a​ 30-year…

A: We need to identify which loan is more economical. Use the formula  PMT=Prn1-1+rn-nt    ...1

Q: to make a balloon payment (large single payment) of $29,367.71 in 10 years. T on payment, you will…

A:

Q: Your parents are buying a house for $187,500. They have a good credit rating, are making a 20% down…

A:

Q: The father has just donated $25,000 to a church. His son would like to donate an equivalent amount,…

A: Given;  Principal =$ 25000 Time = 5 years  Rate = 8.2%.

Q: Toni Torres wants to save $1,200 in the next two years to use as a down payment on a new car. If her…

A:

Q: You want to purchase a bond that has a face value of $40,000

A: Given, Face value of the bond: F=40000 Quarterly interest payment: I=40000×8100×14=100×8I=800 Yield…

Q: Ed Long promised to pay his son $350 semiannually for 12 years. Assume Ed can invest his money at 4%…

A: I am going to solve the given problem by using some simple algebra to get the required result.

Q: You’d like to set up a perpetuity that pays out A thousand per year with $1 thousand per year…

A: Here, in the question its been given that the perpetuity that pays out A a thousand per year with a…

Q: You purchased your house through a contract for deed.  In addition to regular monthly payments, you…

A: Ballon payment (FV)=29367.71 Number of years n=10Annual payment (r)=3% =0.03The formula for…

Q: Rachel wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 2.4%…

A:

Q: The Small Business Administration offers business loans at 5.8% interest compounded monthly for 8…

A:

Q: Suppose you make a down payment of 6% of $27,600 and finance the rest at 1.5% compounded monthly for…

A: The down payment is 6% of $27,600, which is: 0.06 x $27,600 = $1,656   So you are financing the…

Q: The rebate offer is $3800, and you can obtain a car loan at your local bank for the balance at 3.78%…

A: Let E be the monthly payment , P be the principal amount , r is the rate of interest and n is the…

Q: The house you find that would accommodate your growing family costs $295,000. You obtain a 30-year…

A: Loan amountinterest rate per month, number of periods in 30 years,

Q: You plan to save $1000 for a trip to Nicaragua In two years. You decide to purchase a certificate of…

A:

Q: You decide to buy a 2020 blue Rolls-Royce Phantom for $455,000. Use the simple interest formula to…

A: