After the birth of their first child Maria, the Madrigals plan to set up an account to pay for her college education. The goal is to save Php 4,500,000 over the next 17 years, and the financial planner suggests a bond fund that historically pays 6.9% interest compounded monthly. How much should they put into the fund now?

Q: The shares stocks of a certain company are initially sold at Php 130.00 per share. The value of the…

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Q: Tristan and Bella borrowed $1,700 to buy a dog at 7.5% interest on March 10. They plan to repay the…

A: To calculate the repayment amount for a loan with 7.5% interest over a specific period, you can use…

Q: The Habers purchase a $6500 living room set and take out a two-year loan for the entire amount at…

A: given  principal P=$6500 interest rate i=26% i=2612 =2.1666% =0.021667 time t=2 years number of…

Q: You owe $3545 on you credit card. Your minimum payment is 3% of that. The APR is 14.99% Using that…

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Q: Ellen has maxed out her credit card at $17,500 and vows not to make any other credit card purchases.…

A: Given:Principal= $17500Minimum monthly payment = 1.8% of interest per month + 4% of Principal…

Q: The balance of my MasterCard is $2345.67 with an APR of 27.8%. I make the minimum payment of $125 a…

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Q: The GDP in Brazil is 2.05 trillion. The rate of inflation is 2.5%. If the population of Brazil is…

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Q: Hector's second option for purchasing his $24,000 car is a loan with 4.5% interest over four years.…

A: Hector purchasing his car is a loan with  interest over four years.The aim is to find out how much…

Q: Fernando has $6,600 to invest in a saving account. He receives a steady interest rate of 3.00%…

A: Compound interest formula is used

Q: A bank features a savings account that has an annual percentage rate of 5.4 % with interest…

A: P = $ 5500 APR = 0.054

Q: The total interest on a discounted loan is $40. If Bob received $480 into his bank account, what is…

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Q: Jenny start saving for retirement. She contributes $300 per month with an APR OF 2.99%. She plans to…

A: Given: Jenny contributes $300 per month with an APR OF 2.99%. She plans to do this 35 years before…

Q: You invest $10,000 in the Big Delta mutual fund. Over 5 years, your investment grows in value to…

A: According to the given data Initial investment is $10000 After 5 years it becomes $17320 That means…

Q: If you purchase a $600 item and pay for it with monthly installments for 2 years, the monthly…

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Q: you want to establish a savings fund from which a community organization could draw $1,000 a year…

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Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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Q: ristan bought a $225,000.00 house, paying 10% down, and financing the rest at 3% interest for 15…

A: Given that  Tristan bought a $225,000.00 house, paying 10% down, and financing the rest at 3%…

Q: If a T-shirt costs $15 and you have a coupon for 25% off, how much will the final cost of the…

A: Percentage is expressed using sign .can be written as .

Q: The price of a car is $25,000. You have saved 25% of the price as a down payment. After the down…

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Q: Jamil wants to renovate his Studio in 6 years. He estimates the cost to be $15474. How much should…

A: Given, Future value FV=15474$ Rate of interest r=8%=0.08 Number of times per year m=1 time t=6 years…