If you borrow $30,000 from your dad for college and you agree to pay him back at 14% interest per year in monthly installments of $750 each month-end after you find a job, how many months will it take you to pay off the loan. Round the answer in months to the next higher digit. 44 O 50 O 57 O 55
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- You have $11,489.64 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $200,000. You expect to earn 11% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number. _____ yearsYou will be earning $1,200 in salary every month, if you decide to put half of that in your savings account that pays you 6% in interest, how much will you have saved up after 11 years? Select one: a.$290,860.98 b.$111,793.58 O c.$231,793.58 d.$463,587.15You would like to receive $6000 per month for 30 years after you retire in 40 years from now. The first monthly payment is to be received at the end of the 1st month after you retire. The retirement account is expected to provide 11% return. What is the amount you must deposit each year for 40 years to achieve your goal? Group of answer choices $28,921.22 $1,082.86 $3,956.71 $21,912.45 $2,233.41
- ery am Proctor Suppose you want to buy a $146,000 home. You found a bank that offers a 30-year loan at 5.3 % APR. What will be your monthly payment? (Round to the nearest cent.) 644.04 How much would you end up paying the bank for the home after 30 years? (Round to the nearest cent.) Suppose you wanted to reduce the time of your loan to 25 years. What would be your new monthly payment? (Round to the nearest cent.) How much would you end up paying the bank for the home after 25 years? (Round to the nearest cent.) How much did you save by reducing the time of your mortgage loan? (Round to the nearest cent.) Question Help: Video Message instructor Submit QuestionA) How much should you deposit at the end of each month into an investment account that pays 8.5% compounded monthly to have $1 million when you retire in 35 years. B) How much of that $1 million comes from interest. C) If you anticipate living for 20 years on your retirement savings, how much will you be able to withdraw each month if the account continues to pay 8.5% compounded monthly. pls answer quickYou buy a car today for $64,900 making a $10,000 down payment and borrowing the balance from your bank with a 84 month fully amortized loan. The loan has a 4.0% annual percentage rate (APR). What is your monthly loan payment? What is your expected balance after five years (60 months)? Round your final answers to the nearest dollar. Blank # 1 Blank # 2 A A
- 5. You have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $250,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal? Answer to the nearest whole number of years.Suppose you want to buy a vacant lot for your future home for $29,673. If your bank is willing to loan you the money at a 6% APR over the next 14 years how much would be your monthly payment? (Round up your answer to two decimal point)You want to buy a car and therefore you borrowed $10,000 from a bank today for 6 years. The nominal interest rate that the bank charges is 7.2%. If you intend to make equal end-of-month payments and then make an additional final payment of $1,000 at the end of the last month then what will be your approximate monthly installment? Group of answer choices $170.43 $175.45 $154.31 $160.31
- You have $29,307.61 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $240,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations. ___yearsSuppose you want to have $400,000 for retirement in 35 years. Your account earns 4% interest. Round your answers to the nearest cent.a) How much would you need to deposit in the account each month? $ b) How much interest will you earn? $How much should you deposit at the end of each month into an investment account that pays 9% compounded monthly to have $1 million when you retire in 40 years? How much of the $1 million comes from interest? In order to have $1 million in 40 years, you should deposit $ 36109902 each month. (Round up to the nearest dollar.) $35109902 of the $1 million comes from interest. (Use the answer from part (a) to find this answer. Round to the nearest dollar as needed.) (11) More Enter your answer in each of the answer boxes. 11:47 PM P Type here to search 耳 99+ 80°F Partly cloudy 口 ) 23 6/30/2021 DELL Esc F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 PrtScr Insert Delete PgDn Home %24 Backspace Lock R T F G H K