Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit: $? at the end of every three months Rate: 4.25% compounded quarterly Time: 5 years Financial Goal: $60,000 $3226; $32,260 from deposits and $27,740 from interest $2015; $40,300 from deposits and $19,700 from interest $2708; $54,160 from deposits and $5840 from interest $2996; $59,920 from deposits and $80 from interest

Q: Suppose you purchase a refrigerator for $1,275 and make payments of $59.91 per month for 2 years.…

A: We can solve this as follows:

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A: To find the total interest

Q: Quarterly withdrawals of $850 for 7 years; interest rate is 4.9% compounded quarterly. Find the…

A: The formula is:A=P1+r4004Twhere P=principal amountr=rate of interestT=time

Q: You decide to quit using your credit card and want to pay off the balance of $2,400 in 3 years. Your…

A:

Q: Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes…

A: We will find out the required solution.

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A:

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: A loan of $1700 is being paid off by quarterly payments of $130. If interest is at the rate of 2%…

A:

Q: You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay…

A: The monthly payment is calculated using the formula: Monthly Payment=Loan amount×i1-(1+i)-n. Here, i…

Q: Calculate the time necessary to achieve an investment goal. Give your answer to the nearest day. Use…

A:

Q: Find the compound amount for the deposit. Round to the nearest cent. $15,000 at 3% compounded…

A: From the given information, it is observed that,

Q: Find the new balance, assuming that the bank charges 12% per month on the unpaid balance. Previous…

A: Given: Previous Balance=$300 Payment=$20 New Purchases=$80 Charge incurred by the bank on the unpaid…

Q: A share valued at $256.50 pays quarterly dividends in perpetuity at a rate of return of 3.50%…

A: Given: Dividend:$256.50 i=3.50%  i.e. 0.035 n=2 The effective rate of interest is obtained by the…