Ellen deposits $6,773 into an account earning 1% annually. After seven years what will Ellen's balance have grown to, including interest? Multiple Choice None of these $7,261.33

Q: Delilah is paying $0.40 per $100 on her $210,000 home in homeowners' insurance annually. If her…

A: A mortgage is a type of loan that is taken for the purchase of a home or any other real estate…

Q: Scottie wants to accumulate $30,000 for a down payment for a house. He can only afford to set aside…

A: Future value needed = $30,000Payment = $300 every half year (i.e semi annually)Interest rate = 7.5%…

Q: Jahan deposits $9,000 into an account today that promises to earn 17.3% annually for the foreseeable…

A: To calculate the future value of Jahan's deposit after 9 years with an annual interest rate of…

Q: Hannah places $ 6500 into an account earning 7.75% interest compounded continuously, how much will…

A: Future Value = Present Value * e^rt Where, r =continuously compounded rate of interest i.e. 7.75% t…

Q: Marissa has $202,971.39 in an account that earns 8% per year, compounded monthly. Her 27th birthday…

A: The time value of money is the worth of money today is more than the worth of money tomorrow this is…

Q: An investor deposits $49,000 at 7% interest compounded annually. Two years after she makes the first…

A: Future value is that amount which will be required to paid at some specified period of time. It…

Q: Priscilla deposits $200 at the end of each month for seven years at 5% interest compounded monthly.…

A: Future Value = R [ (1+i)n - 1]i   where, R = Monthly deposits n = Number of months i = Interest Rate…

Q: Priscilla deposits $200 at the end of each month for seven years into savings account earning 5%…

A: Future Value is the value of current investments at a certain future date at the assumed…

Q: Kyler deposits $225 each month into an annuity at 6.2% annual interest for 25 years . At the end of…

A: Solution:- When an amount is invested somewhere, it earns interest on it. The amount initially…

Q: ayla invests $3000 for 8 months in an account that earns /./% hat amount will Shayla receive when…

A: The question is related to equation that models number of new trees and in the second question total…

Q: Taylor deposited $600 at the end of every three months into an investment for the past 5 years. The…

A: Future Value: The future value is the amount that will be received at the end of a certain period.…

Q: None

A: Step 1: Given Value for Calculation Compound = Monthly = 12Monthly Payment = $440Number of Payment =…

Q: Karina invests X at the end of each year into an account which earns an annual effective interest…

A:

Q: If Laura invests $1,230.00 in an account earning 2.95% simple interest, how much money will be her…

A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Q: Alice Reed deposits $16,500 in Rye Bank, which pays 10% interest compounded semiannually.  What will…

A: In this we have to calculate the future value of the present value.

Q: Talib bought a new farm house for $.5 120000, H put down payment of $12000 nd obtain a mortgage at…

A: Interest rate: It is charge taken by the bank from the borrower against the loan amount granted for…

Q: Sonya is making a savings plan: every year she will deposit $1,650 in an account that earns 4.5%,…

A: Given, yearly payment is $1650 Interest rate is 4.5%

Q: An heiress receives an income stream from a will at a rate of f(t) = 30,000e0.023 dollars per year.…

A: The concept of time value of money will be used here. As per the concept of time value of money the…

Q: Hannah places $ 3500 into an account earning 8.75% interest compounded continuously, how much will…

A: GIVEN, PV = $3500 R=8.75% T=7 YEARS

Q: Lizzy Clar bought a home for $160,000, putting down $30,000. The rate of interest is 7% for 25…

A: Total Present Value = $160,000 Down payment = $30,000 Present Value of Loan = $130,000 Annual…

Q: Hannah plans to invest $125 at the end of each month into an RRSP for the next 5 years. If she earns…

A: We need to use financial calculator to solve this problem. The following inputs need N=Periods…

Q: effrey deposits $406.00 every month into his son's RESP for the next fifteen years unti his son goes…

A: Future value of deposit includes the amount being deposited and compounding interest accumulated…

Q: nifer deposited $54,000 at Bank of America at 20% interest compounded quarterly. a) What is the…

A: In this we need to find out the effective annual rate.

Q: beatrice invest 1350 $ in an account that pays 4 percent simple interest how much more could she…

A: Simple interest future balance and compound interest future balance are calculated using the…

Q: Tracey placed $4,500 in an account that accrues simple interest of 6.25%.  How much will she have at…

A: Simple Interest method of calculation is one in which the interest accumulated does not earn…

Q: A man buys a house for $285,000 with a $60,000 down payment and takes out a mortgage at 7.5% for 15…

A: The PV of an ordinary annuity is the value today of a series of equal payments made at the same…

Q: Bert receives an inheritance of $57,500 and decides to invest his m an account that will pay 3.7% if…

A: Future value of money is the amount of deposit done and amount of compounded interest accumulated on…

Q: cecilia invested $5000 in an account four years ago. Today her account has a balance of $6200. Given…

A: Present value=$5000Future value=$6200Period= 4 yearsPeriod= 16 quarters

Q: andez wishes to have $368,765 in a retirement account 15 years from now. What payment would Noime…

A: There is need of proper planning for the retirement and proper planning lead to have good money on…

Q: Kristina saves $23 at the end of each week and deposits the money in an account paying 11%…

A: Future value is an estimate of future cash values ​​that may be received at a future date,…

Q: Chin Woo bought a home for $160,000. He put down 20%. The mortgage is at 8 1/2% for 25 years. What…

A: Total Present Value = $160,000 Down payment = 20% Present Value of Loan = $160,000 - 20% = $128,000…

Q: 2.10.1. Melissa takes a loan of R950 000 to buy a house. The interest is 14,25% p.a. compounded…

A: Answer -    Monthly Repayment – Repayments means the monthly installments of principal and interest…

Q: Retirement Mr. Lawrence invests $600 at the end ofeach month in an account that pays 7%,…

A: Future value: It can be defined as the value of an investment or any asset at a specified future…

Q: John bought a car with cash value of P15,294 on the installment plan under the following terms:…

A: Annuity:  An annuity is the series of payments which is received or paid for a certain period of…

Q: Financial Math, question One: Ryan purchased an annuity that had an interest rate of 2.75%…

A: Present value refers to the current value of future investment or series of investments at a rate of…

Q: Kia deposited $1,300, at the BEGINNING of each year for 26 years in a credit union account. If the…

A: Annuity = a = $1300 Time = t = 26 years Interest rate = r = 8%

Q: Twenty-two years ago, Victor set aside $5,135 in case of a financial emergency. Today, that account…

A: No of years = nper = 22 yearsInvestment = PV = $5,135Increased value = FV = $18,350

Q: Mr. and Mrs. Smith have taken out a mortgage loan of $150,000.00 from a bank at 6% APR for a fixed…

A: The monthly payment can be calculated with the help of present value of annuity function

Q: Heidi deposits $8,000 in a savings account that earns 4.5% compound interest. What is the estimated…

A: Given data; deposit amount = $8000 rate of interest = 4.5% future value = 2 * deposit amount…

Q: Alyssa has $800,000 saved for retirement in an account earning 2.2% interest, compounded quarterly.…

A: The Present Value of Ordinary Annuity refers to the concept which gives out the discounted or…

Q: Sara deposited $3000 in an account that earns 5.5% simple interest. How much money will be on…

A: A = P * (1 + rt) A = final amount p = Present value r = Interest rate T…

Q: George deposits $500 at the end of each quarter for 6 years, in an account paying 12 % compounded…

A: An annuity is a type of financial product offered by insurance companies and financial institutions.…

Q: Beverly Hills started a paper route on January 1. Every three months, she deposits $550 in her bank…

A: Compound interest is a financial concept that involves the calculation of interest not only on the…

Q: A family takes a $275,000 20 year mortage at 3.50% annually compounded monthly. . Compute their…

A: Here, Mortgage Amount is $275,000 Interest Rate (r) is 3.5% Time Period (n) is 20 years Compounding…

Q: d. $4,170 every 3 months for 3 years and $1.410 each quarter for the following 25 quarters, all…

A: The present value of a benefit represents the value of the benefit today, based on the expected cash…

Q: Lauren deposited $10,000 today. He plans to withdraw $1100 every year. For how long can she withdraw…

A: The term "annuity" refers to an insurance contract created and offered by financial institutions…

Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.