Jay and Sybil are purchasing a home. They wish to save money for five years and purchase a house with a value of $195,000 with cash. If they deposit money into an account paying 12% interest, how much do they need to deposit each month in order to make the purchase?

Q: Jerry deposited $20,000 on an investment that will give $1,550 for every year that his money stays…

A:

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: Hector's second option for purchasing his $24,000 car is a loan with 4.5% interest over four years.…

A: Hector purchasing his car is a loan with  interest over four years.The aim is to find out how much…

Q: Suppose your balance (debt) on your credit card is $2000. You spend $150 in a month using your…

A:

Q: Carolyn borrowed $38,500 to pay for college. If the interest rate is 3.2%, how much total will she…

A: A = P(1+r/100)n P = Principle A = amount r = interest rate n = number of years

Q: ristan bought a $225,000.00 house, paying 10% down, and financing the rest at 3% interest for 15…

A: Given that  Tristan bought a $225,000.00 house, paying 10% down, and financing the rest at 3%…

Q: The Hoskins family spends $600 per month on groceries for their family. If this is 12% of their…

A: Given problem is  : The Hoskins family spends $600 per month on groceries for their family. If…

Q: Your paycheck each week is $500.00. If you want to save $2000.00 in one year, how much should you…

A:

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :

Q: Jessica deposits $2435 at the beginning of each semiannual period for 8 years in an account paying…

A:

Q: Jimmy deposits $4000 at a bank with an interest rate of 4.5% per year and he has no plans of…

A: From the given information, the principal investment is P=$4000, interest rate r=0.045, and n=1 and…

Q: rest rate of

A: Given, Ms. Drake invests $1000 at a simple interest rate of 8.5% for 2 years. The interest during…

Q: Richard invests $298.66 every month into an account. At the end of 30 years, he has a balance of…

A: Given: The investment rate is $298.66 per month and  total time 30 year=360month and final balance…

Q: Jill has a loan of $1600 . If she is charged 2% simple interest per month, how much interest is she…

A: The formula to calculate the amount on simple interest is given below: A=P(1+rt) where, A is the…

Q: Warren opens a savings account, with the goal of saving $25,000 by making deposits each month for…

A:

Q: how long will it take his savings to grow to $46,000​?

A: Given: Amount in the savings account=$11,000 Additional savings=$3,300 Interest rate=12% Formula…

Q: John opened a savings account with $900 and was payed simple intrest at an anual rate of 5%. When…

A: Given that the initial payment is =P= $900 Interest rate= r= 5%= 0.05  time=t= ? Interest = I= $135…