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

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

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

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A: Retirement Income - It the amount deducted from the employee's current salary and to park in such…

Q: None

A: Here's a detailed calculation for better understanding. For Grace's Savings Plan: Grace deposits…

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Q: None

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

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Q: Obtain today's value of the investment account.

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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…

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A: To calculate the final answer, it is required to calculate the maturity amount at each interval…

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

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

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Q: None

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Q: ry six months into an in 10 years and 6 mon

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A: Given: Amount = $5,500 Interest = 8% Time = 13 Years

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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.