John needs $30000 in 10 years for a down payment for a house. He is planning to deposit a regular amount every 2 weeks into an account that pays 7.8%, compounded bi-weekly. How much does he need to deposit every 2 weeks to reach his goal?

Q: James and Susan wish to have $10,000 available for their wedding in 4 years.How much money should…

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Q: Karl purchased a head, phone and charged it to his credit card. To discharge this debt, he must pay…

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Q: Sara borrowed 25,500 to purchase a new car .if the rate on the loan is 8%compounded quarterly , how…

A: Given Information -  Amount borrowed by Sara = 25,500 Rate of interest = 8% Time period of loan = 5…

Q: George puts his bonus of $4,200 into an account earning 7.5% compounded monthly.  How long will it…

A: Given: Initial amount = 4200 rate of interest = 7.5 monthly Final amount  = 5000 Now, we need to…

Q: Suppose you’d like to save enough money to pay cash for your next used car. The goal is to save an…

A: Given that, to save an extra $8000 over the next three years.To find the amount of monthly payments…

Q: Megan has $50,000 in her college fund that earns 6.4% compounded quarterly. She would like to make…

A: Given: Megan has $50,000 in her college fund that earns 6.4% compounded quarterly. She would like to…

Q: Rosa Burnett needs $7,000 in three years to make the down payment on a new car. How much must she…

A: Given information Future value=$7,000 Rate of interest r=0.5% compounded annually ⇒r=0.5100=0.005…

Q: John got a part time weekend job at a local restaurant to save for a new car. He plans on depositing…

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Q: Suppose that you borrow $17,000 for four years at 6 ​%  toward the purchase of a car. Use PMT equals…

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Q: . Find the size of the payments if money earns 3% compounding quarterly.

A: Given: Helen has borrowed $4000, and agreed to pay it back in two equal payments to be made in 6…

Q: Jodie deposited $10,000 into an account paying 6.5% interest, compounded quarterly.  She needs to…

A: Let's say it will take t years to make the down payment

Q: Barbara Katzman bought an income property for $32,000 four years ago. She has held the property for…

A: Below is the solution:-

Q: Alan borrowed $30,000 from Janet due in five years at 10% monthly. Two years after the debt is…

A: Present value = future value/(1+r/m)^(m*n) Given  Future value =$30000 r=10%  n=5 years m=12

Q: Alexa and Erik plan to send their son to university. To pay for this they will contribute 9 equal…

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Q: arge and Tom Martin bought a new car for $126,500. They agreed to pay 25% down and make onthly…

A: Given Borrowed amount=126500*(1-0.25)=94875

Q: Leo needs $30,000 to cover

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Q: Russell invested 50,000 pesos in a bank that pays 8% compounded quarterly for 5 years. How much is…

A: We used the formula A=P(1+r/n)^(nt)

Q: Suzy put some money into an accout paying 5.5% interest compuunded continuously for 12 years. She…

A: Given,   Interest rate = 5.5 %   Total amount she has after 12 years = A = $18,900   And it is…

Q: Beth has a $12 000 student loan that she needs to repay. Payments are made monthly for the next 2…

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Q: Hamad needs $6500 in 3 years for his first-year university program. He is planning to deposit a…

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Q: Suppose you want to have $700,000 for retirement in 30 years. Your account earns 6% interest. How…

A: We have given that future value (FV) = $700,000Number of years = 30Number of months = 30*12 =…

Q: Karen has $1000 from investing in an account that pays 3.2% interest compounded quarterly at the end…

A: We will use formula for compound interest.

Q: Noman would like to have $50,000 in 16 years to give to his son to help pay for his university…

A: As per the given condition the person wants to make his money goes up to $50000 in 16 years, if the…

Q: Rikki Blair borrowed $6000 from her daughter Lynette. She repaid the $6000 at the end of 2 years. If…

A: We wiil use formula for compound interest .