Kate borrowed $3000 at 3.6%/a compounded monthly for 4 years. What is the future value of her investment? a) $3432.00 b) $3009.00 c) $3463.91 d) $3036.16

Q: Moe takes out a conventional loan to purchase a car. The interest rate is 8.3% compounded monthly,…

A: amount of the loan is  $12000 monthly interest rate=8.3% compounded monthly

Q: A) Allison wants to save money for a vacation she's planning on taking in 6 years. she deposits $15…

A:

Q: Rachel purchased a car for $23,900; she paid 20% of the cost as a down payment and financed the…

A: The compound interest formula for an initial amount of P at a rate of r%, for t years compounded n…

Q: the same account (an

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Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: Assume that you make quarterly payments of $ 750 into an annuity paying 5% interest compounded…

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Q: You would like to have $550,000 when you retire in 40 years. How much should you invest each quarter…

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Q: A business must pay an annuity of $ 20,000 quarterly with j4 = 5%. Calculate the semester payment to…

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Q: Sallie wants to buy a new home.  She will borrow $400,000 at 3% compounded monthly for 30 years.

A: Given, Initial amount: Interest rate: Interest rate for compounded monthly: Number of years:…

Q: Alexander loaned $70,000 to a small business at 4.18% compounded monthly for 1 year and 6 months.…

A: Alexander loaned  to a small business at  compounded monthly for  year and  months.We have to find…

Q: You deposit $400 each month into an account earning 7% interest compounded monthly. a) How much…

A:

Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

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Q: Courtney received a loan of $51,000 from the bank at 4.00% compounded monthly. If she had to repay…

A: To calculate the principal balance at the end of 3 years, use the following formula:A = P(1 +…

Q: u deposit $600 each month into an account earning 3% interest compounde 10995 tonen & y a ton of…

A: The formula for the future value of ordinary annuity is where R is the regular periodic deposit, i…

Q: huy wants to purchase a lakeside condo in Cuba, Missouri, 20 years. Huy will invest in a mutual fund…

A: Step 1: Given Value for Calculation Compound = Semiannually = 2Time = t = 20 * 2 = 40Interest Rate =…

Q: Erica and Guadalupe plan to purchase a home for $241,000. They will pay 20% down and finance the…

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Q: A lender requires PMI that is 0.7% of the loan amount of $590,000. How much (in dollars) will this…

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Q: You deposit $340 each quarter into an account earning 2.4% interest compounded quarterly. a) How…

A: Given that, You deposit $340 each quarter into an account earning 2.4% interest compounded…

Q: A freelance artist is paid $3,520 for a contracted job. The money is invested in a savings account…

A: Paid amount = $3520Rate = 3.05 %Time = 6 months = 1/2 years Compunded monthly Formula for compounded…