A loan of $2000 is being amortized over 48 months at an interest rate of 12% compounded monthly. Find the monthly payment. The principal outstanding at the beginning of the 36th month; The interest in the 36th payment; The principal in the 36th payment; The total interest paid.

Q: Find the accumulated amount at the end of 11 months on a $2100 bank deposit paying simple interest…

A: Given, period=11 months Amount= $2100 interest at a rate of 9%/year. To find the accumulated amount…

Q: Moe takes out a conventional loan to purchase a car. The interest rate is 8.3% compounded monthly,…

A: amount of the loan is  $12000 monthly interest rate=8.3% compounded monthly

Q: A $2200 bond earns 9.3% compounded monthly for 9 years. Determine the amount of the investment at…

A: A $2200 bond earns 9.3% compounded monthly for 9 years.

Q: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: Find the principal if the interest is 18,000 with a rate of 9% at term of 4 years.

A: Given:          Rate of interest (r) = 9 %          Simple interest (SI) = 18,000          Time…

Q: $102 is invested in an annuity at the end of every month at 8.5%.  Find the value of the annuity at…

A:

Q: $450 is deposited at the end of each quarter for 1.5 years at 10% interest per year compounded…

A:

Q: James receives $6497 at the end of every month for 4 years and 3 months for money that he loaned to…

A: Please check the answer in next step

Q: You deposit $10000 in a bank that pays annul interest rate of 6% compounded quarterly. How much your…

A:

Q: Find the amount of money in an account after 10 years if $1,300 is deposited at 8​% annual interest…

A: Principal p =$1300 deposited  Rate =8% annual compounded monthly Time = 10 years To calculate total…

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: John invests $1,500 at 6% annual interest compounded continuously. How much is in the account after…

A: We can make it easier to get it.

Q: Rachel deposits $12,000 into a fixed asset account that earns 6% compounded quarterly. What is…

A: Formula:      where FV = Future Value          PV = The principal amount (the initial amount of…

Q: You deposit $5000 each year into an account earning 7% interest compounded annually. How much will…

A:

Q: You take a loan from your local bank. Determine the interest that is accrued on $7000 for five years…

A:

Q: $10,000 is deposited into an account that pays 2.4% interest compounded quarterly. How much money is…

A:

Q: Kelly paid off his student loan in 3 years by making payments of $650 at the beginning of every…

A:

Q: Find the final amount of money in an account if $7, 600 is deposited at 6.5% interest compounded…

A:

Q: . Find the simple interest (I = Prt) of $10,000 invested for 6 years at an annual simple interest…

A: Definition: simple interest If an amount of money,  P , the principal, is invested for a period of…

Q: You deposit $2000 each year into an account earning 7% interest compounded annually. How much will…

A:

Q: To save for retirement, a student invests $30 each month in an ordinary annuity with 3% interest…

A:

Q: A couple buys a condo for $310,000. After a 20% down payment, they take outa 30-year mortgage at 7%…

A:

Q: Find the compound amount, or future value, of $5900 at 3% interest compounded semiannually for 5…

A:

Q: Find how much interest $25,000 earns in 4 years in a certificate of deposit paying 9.5% interest…

A:

Q: Sam begins saving for a down payment on a house using an investment account. The account earns…

A: Let's find.