8. You expect to have $8,000 in one year. A bank is offering loans at 4.5% interest per year. How much can you borrow​ today? Today you can borrow ​$____ ​(Round to the nearest​ cent.

Q: Your bank pays 2.3% interest per year. You put $1.100 in the bank today and $500 more in the bank in…

A: Year 0 Deposit = $1,100 Year 1 Deposit = $500 Interest rate = 0.023 Amount in the bank in 2 years =…

Q: You borrow $275,000; the annual loan payments are $36,687.93 for 30 years. What interest rate are…

A: The present value is the value of an asset or liability as of a specific date, adjusted for the time…

Q: You want to buy a house, and a local bank will lend you $100,000. The loan will be fully amortized…

A: Monthly loan payment: It is the amount of money that is given to the lender by the borrower on the…

Q: ou can afford a $1,250.00 per month mortgage payment. You can get a loan at 7% interest for 30…

A: When we make a mortgage payment we pay fixed monthly amounts as payments towards the mortgage.…

Q: You borrow $625 for 60 days at a simple interest rate of 2.9%. What is the interest on the loan? Be…

A: The Bankers’ rule is a measure of calculating simple interest where the exact number of days of the…

Q: Suppose you need to accumulate GHȼ100,000 in 10 years. You plan to make a deposit in a bank now, at…

A: The future value of the growing annuity is the future worth of a cash flow series growing at a…

Q: You borrow $335,000; the annual loan payments are $47,838.94 for 30 years. What interest rate are…

A: Amount borrowed = $335000Annual Loan payments = $47838.94Number of years of loan payment =30

Q: Imagine you have $200 today and you think to save your money in a bank for 2 years. The Bank A says…

A: Interest rate is the rate which an investor may earn on the deposits in the banks or the investment…

Q: You want able to withdraw 15,000 each month for 15 years. your account earns 3 1/4% interest. a.…

A: Investments are the ways in which individuals and corporations park and save their money and funds…

Q: You owe the Bank of US $700 in one year, $900 in 3 years, and $1200 in 6 years. How much would it…

A: Let's first understand the question and the information given -Amount due in 1 year$700Amount due in…

Q: You expect to have $1000 in one year.  A bank is offering loans at 6% interest per year, how much…

A: Given: Money invested today (C)= $1000 Interest rate (r) = 6% =0.06 Number of years (n) = 1

Q: If you want to have $60.000 in 8 years, how much do you need to deposit in the bank today if the…

A: Deposit required today = FV/(1+r)n Where FV - Future value = $60,000 r - Interest rate = 9% n -…

Q: Your bank pays 2.9% interest per year. You put $1,500 in the bank today and $550 more in the bank in…

A: The amount is two years will be the future value of the deposits made at times 0 and 1.FV=…

Q: 5. You deposit PHPI,500 in your bank account. If the bank pays 4% simple interest, how much interest…

A: Simple Interest = P * R *T Where P = Principal = PHP1,500R = Rate of Interest = 4%T = Time = 10…

Q: You borrow $110,000; the annual loan payments are $16,753.02 for 30 years. What interest rate are…

A: Borrowed amount = $110,000Annual loan payment = $16,753.02Number of years = 30 years

Q: ou borrow $210,000; the annual loan payments are $18,653.76 for 30 years. What interest rate are you…

A: Yield to maturity can be calculated by following function in excel =RATE (nper, pmt, pv, [fv],…

Q: Give only typing answer with explanation and conclusion You expect to have $2,000 in one year. A…

A: Present value describes the money present today is more valuable than the money will receive in…

Q: You borrow $175,000; the annual loan payments are $10,120.27 for 30 years. What interest rate are…

A: Interest on a loan is the additional amount of money that a borrower has to pay back to the lender…

Q: You have $400 and a bank is offering 3.5% interest on deposits. If you deposit the money in the…

A: The FV of an asset is the value that the asset acquires assuming that it grows at a fixed rate for a…

Q: mpounded monthly. You plan to put $1,000 per year over the next 2 years as well.  How much will you…

A: To determine the value of the bank account, we need to determine the effective annual rate given the…

Q: You borrow $90,000; the annual loan payments are $12,852.25 for 30 years. What interest rate are you…

A: Interest :  It is the total amount payment on loan taken or fund borrowed by any person . it may be…

Q: 1. A man has a loan of 50,000 in a bank that gives 12% simple interest. How much is the interest if…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: you expect to have $3, 000 in one year. A bank is offering loans at 11% interest per year. How much…

A: Future value=$3000Interest rate=11%Period=1 year

Q: d. Using information from (la) only, what quarterly compounded interest rate should the bank quote…

A: The effective annual interest rate (EAR) is defined as the annual growth rate that takes compounding…

Q: You lend a friend $50,000. Your friend will repay you in 6 equal annual end-of-year payments of…

A: Solution:- When an amount is borrowed, it can either be repaid as a lump sum payment or in…

Q: The bank officer is convincing a customer who is looking for a car loan. Compute the price the bank…

A: Ordinary annuity are the payments which are made at the end of a period.

Q: If you want to have $22,431 in fifteen years, how much do you need to deposit in a bank account…

A: The deposit required to be made today can be calculated as the present value

Q: You expect to have $12,000 in one year. A bank is offering loans at 5.5% interest per year. How much…

A: We are given  Future value=12000 Rate=5.5% no. of years=1 We will calculate present value in this…

Q: Suppose you put $1000 in an account today and you need to have $6727.5 in the future.  If the bank…

A: Future value = Present Value * (1+ rate )^ n Where, r = rate of interest  n = no. of compounding…

Q: Your bank pays 2.6% interest per year. You put $1,400 in the bank today and $500 more in the bank in…

A: The future value can be calculate using the formula,

Q: fford a $700 per m t. w big of a loan ca w much total mon w much of that mo

A: Mortgage payments are periodic payments against the loan to pay it off. Mortgage payments are…

Q: 6. You are hoping to put down $3000 on a car in 2 years. If the bank pays 4% interest, compounded…

A: Future value required (FV) = $3000 Period =  2 Years Number of monthly deposits (n) = 2*12 = 24…

Q: If you want to have $22,327 in fifteen years, how much do you need to deposit in a bank account…

A: The deposit required today is calculated as the present value.

Q: You want to buy a car, and a local bank will lend you $20,000. The loan would be fully amortized…

A: A loan is a method through which an individual can borrow money from a financial institution for…

Q: You want to have $10000 in five years.  How much should you deposit today if the bank pays 4%…

A: $10000 in 5 Years  That is 5*12 months = 60 Months (n) Interest rate 4% annual compounded monthly…

Q: Suppose you take out a $37,000 4-year balloon loan from a bank at an interest rate of 9.8%. What…

A: Balloon payment is future value of payment considering the interest rate and period.