How much must be deposited today into the following account in order to have $70,000 in 8 years for a down payment on a house? Assume no additional deposits are made. An account with annual compounding and an APR of 6% should be deposited today. Do not round until the final answer. Then round to the nearest cent as needed.)

Q: The following certificate of deposit (CD) was released from a particular bank. Find the compound…

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Q: Find the amount in the account at the end of 1 year. $

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Q: Consider a student loan of $12,500 at a fixed APR of 6% for 25 years. a. Calculate the monthly…

A: (a) Obtain the monthly payment as follows.

Q: Your company borrowed $180,000, agreeing to pay the balance in 18 equal monthly installments at 8%…

A: The formula to find is, Remaining balance =  (Original balance*(1+r)^n)-EMI*((((1+r)^n)-1)/r)

Q: Find the payment made by the ordinary annuity with the given present value. $231,156; quarterly…

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Q: The annual interest rate on a credit card is 16.99​%. If a payment of ​$100.00 is made each​ month,…

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Q: What is the time period of a loan for $3,0000, at 10% ordinary Interest, if the amount of Interest…

A: Given information Principal amount P=$3,000 Rate of interest r=10% Amount of interest is I=$125.00…

Q: If $5,000 is borrowed at a simple interest rate of 3.70% p.a., calculate the interest charged for 10…

A: Simple Interest: Simple interest is a method of calculating interest on a loan or investment based…

Q: A company has borrowed $500,000. The loan is to be repaid in quarterly payments over 20 years.…

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Q: Calculate the annual payouts C to be given for 15 years with an interest rate of 6% on an annuity…

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Q: If $5,000 is borrowed at a simple interest rate of 4.55% p.a., calculate the interest charged for 10…

A: Given principal amount=$5000. Simple interest rate of 4.55% p.a.time=10 months.simple interest=where…

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: Find the present value of an annuity due that pays $2000 at the beginning of each quarter for the…

A: find explanation below

Q: Find the compound amount for the following deposit. $13,000 at 7% compounded quarterly for 9 years.

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Q: You put $500 into an account paying 2% compounded monthly. What size can you withdraw at the…

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Q: In order to purchase a home, a family borrows $267,000 at 10.8% for 15 yr. What is the monthly house…

A: Rules for rounding to nearest cent are :-(i) If the digit just right to 2nd decimal place is equal…

Q: Jessica had a loan of $142,000 and made payments of $4,000 at the end of every month to settle it.…

A: In this question, we will use the compound interest formula.

Q: Suppose that f(x, y) = x² – xy+ y² – x + y with D = {(x, y) |0 < y< x < 1}. 1. The critical point of…

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Q: Hank made payments of $105 per month at the end of each month for 30 years to purchase a piece of…

A: given payment $105 per month FV=$98310 t=30 years  =30×12 month  =360 month claim- (1) find the…