A guy named Stranger Thing can afford to pay $545 each MONTH for the next 6 years to pay towards a strange house. The interest rate is 6.1% compounded monthly. What is the value of the house that he can afford today?   $8,808.66   $32,791.55   $47,240.14   $2,671.54

Q: ou have $5,000 on a credit card that charges 16% interest rate. If you want to pay off the credit…

A: To calculate the amount need to pay each month to repay the amount.

Q: You know you will have $1,000,000 in your account when you retire. You want to be able to take…

A:

Q: deposit $4000 in an account earning 2% interest compounded monthly. How much will you have in the…

A: Given that; Principal {p} = $ 4000 Rate (r) = 2%  Time = 10 years By using the compound interest…

Q: If you need $8000 to travel to Europe after you graduate in 4 years.  How much would your monthly…

A: The compound interest formula is,

Q: Towed $3000 from his brother Dave. He agreed to repay the money at the end of 2 year the money had…

A: In this question, the concept of compound interest is applied. Compound Interest Compound interest…

Q: After retiring, Delaney wants to be able to withdraw $4,000.00 every month from her account for 25…

A: We will find out the required value .

Q: Maura received $1000 from friends and family for college graduation. If she deposits her money into…

A:

Q: Calculate the simple interest earned in 1 year on a deposit of $1900 if the interest rate is 8%.

A: *** This is the problem related to financial mathematics and we are Advanced math expert and have…

Q: If $600 is borrowed and the interest after 24 months is $120, what is the annual interest rate for a…

A: Solution

Q: Suzy put some money into an accout paying 5.5% interest compuunded continuously for 12 years. She…

A: Given,   Interest rate = 5.5 %   Total amount she has after 12 years = A = $18,900   And it is…

Q: You have $2,000 on a credit card that charges a 21% interest rate. If you want to pay off the credit…

A: The objective of this question is to calculate the monthly payment required to pay off a credit card…

Q: You deposit $4000 in an account earning 2% interest compounded monthly. How much will you have in…

A: From the provided information FV=P*((1+r)n-1r)FV=4000*((1-0.02)5-10.02)FV=20816

Q: Lynn Ally, owner of a local subway shop, loaned 62,000 to Pete hall to help him open a subway…

A: Given that Lynn Ally, owner of a local subway shop, loaned 62,000 to Pete hall to help him open a…

Q: Suppose you want to have $500,000 for retirement in 35 years. Your account earns 8% interest. How…

A:

Q: After making the thirtieth payment of $582.48 on your car loan, you wanted to find out how much is…

A: