Maggi receives an allowance of $20 at the end of the month. her four year brother stevie receives the allowance of $1 at month end. Find the value on January 1 of each their allowance for the three month period consisting of January, February and March Using a monthly effective Interest rate of 0.5%.
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Maggi receives an allowance of $20 at the end of the month. her four year brother stevie receives the allowance of $1 at month end. Find the value on January 1 of each their allowance for the three month period consisting of January, February and March Using a monthly effective Interest rate of 0.5%.
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- Gayle has a HELOC with MCAP Financial Corporation at an interest rate of prime +2.25%. Her current balance owing on November 1 is $13,750.00 and she is required to make interest-only payments on the first of every month. The prime rate is set at 4.25%. She makes one payment of $2,500.00 on January 19. Create three months of her repayment schedule. (Round all monetary values to the nearest penny.) (Use a minus sign before the dollar sign to denote a negative monetary value. For example, "$149.63") (Give all "Number of Days" quantities as fractions with denominator 365.) Date Balance before Transaction Annual Interest Rate Number Interest Accrued of Days Charged Interest Nov 1 Dec 1 6.5% Jan 1 6.5% Jan 19 6.5% Feb 1 6.5% Note: You can earn partial credit on this problem Preview My Answers Submit Answers Payment (+) or Advance (-) $2,500.00 Principal Balance after Amount Transaction $13,750.00 fore now version will be requested.Gayle has a HELOC with MCAP Financial Corporation at an interest rate of prime +2.75%. Her current balance owing on November 1 is $13,250.00 and she is required to make interest-only payments on the first of every month. The prime rate is set at 3.5%. She makes one payment of $3,000.00 on January 19. Create three months of her repayment schedule. (Round all monetary values to the nearest penny.) (Use a minus sign before the dollar sign to denote a negative monetary value. For example, "-$149.63".) (Give all "Number of Days" quantities as fractions with denominator 365.) Date Nov 1 Dec 1 Jan 1 Jan 19 Feb 1 Balance before Transaction Annual Number Interest Accrued Interest of Days Charged Interest Rate 6.25% 6.25% 6.25% 6.25% Payment (+) or Advance (-) $3,000.00 Principal Balance after Transaction Amount $13,250.00Gayle has a HELOC with MCAP Financial Corporation at an interest rate of prime +2.75%. Her current balance owing on November 1 is $14,500.00 and she is required to make interest-only payments on the first of every month. The prime rate is set at 3.5%. She makes one payment of $2,750.00 on January 19. Create three months of her repayment schedule. (Round all monetary values to the nearest penny.) (Use a minus sign before the dollar sign to denote a negative monetary value. For example, -$149.63") (Give all "Number of Days" quantities as fractions with denominator 365.) Date Balance before Transaction Annual Interest Rate Number Interest Accrued Interest of Days Charged Payment (+) or Advance (-) Principal Balance after Amount Transaction Nov 1 $14,500.00 Dec 1 6.25% Jan 1 6.25% Jan 19 6.25% $2,750.00 Feb 1 6.25%
- Trish receives $450 on the first of each month. Josh receives $450 on the last day of each month. BothTrish and Josh will receive payments for next four years. At a discount rate of 9.5 percent, what is thedifference in the present value of these two sets of payments?Select one:a. $151.06b. $141.80c. $162.50d. $159.08e. $154.30Karen owns a rental house in Ruston. Her policy requires the renter to make an initial deposit equal to the monthly payments which are $750. Whenever she receives her payments, she places the money into a savings account that has a 3.5% annual interest compounded monthly. Her renter gives the initial deposit on February 1, 2018. He pays on the first of the month every month for the next three years. How much will Karen’s savings be worth on February 1, 2021.A woman deposits $260 of her quarterly check into an annuity for the education of her child. She does this at the end of each quarter for 4 years into an account paying 6% per year, compounded quarterly. Find the amount of the annuity and the interest earned.
- Jessica borrows $1,000.00 from a credit card company at 25% annually for two years. Determine Jessica’s monthly payment. Show your work.Sonia borrowed $3717.00 compounded annually to help finance her education. She contracted to repay the loan in annual payments of $251.00 each. If the payments are due at the end of each year and interest is 5% compounded annually, how long will Sonia have to make annual payments? State your answer in years and months (from 0 to 11 months). ion 4Sonia will have to make payments for year(s) and months).Angelica received a 12-year non-subsidized student loan of $14,000 at an annual interest rate of 5.3% (compounded monthly). She will begin repaying the loan after she graduates in 4 years. How much interest must she pay on the loan during the period of time that payments on the loan are not being made? (Round your answer to the nearest cent.) $ Determine her monthly payment on the loan.
- Sonia borrowed $7829.00 compounded monthly to help finance her education. She contracted to repay the loan in monthly payments of $331.00 each. If the payments are due at the end of each month and interest is 5% compounded monthly, how long will Sonia have to make monthly payments? State your answer in years and months (from 0 to 11 months). Sonia will have to make payments for year(s) and month(s)Minu deposits $950 at the end of each quarter for 6 years in an account that earns 11.8% per year compounded quarterly. At the end of 6 years she has $32 501.04. What would the amount of the annuity be if she doubles the time period to 12 years?Angelica received a 12 year non-subsidized student loan of $12,000 at an annual interest rate of 5.6% (compounded monthly). Determine her monthly payment on the loan after she graduates in 4 years. round your answer to the nearest cent.