ou MUST use the TI BA II calculator features (N, I/Y, PV, PMT, FV, AMORT) Matt agreed to make two payments - a payment of $2,000 due in nine months and a payment of $1,500 in a year. If Matt makes a payment of $1,800 now, when should he make a second payment of $1,700 if money is worth 8% compounded quarterly?

Q: ou decide to make monthly deposits of $300.00 for 15 years into an account which pays 5% compounded…

A: 1.Future value of annuityFV = A * whereFV = future value of annuityA = periodic depositsr = interest…

Q: Assume that you can get a loan from NCB for $264,500 for three years to buy an item of your…

A: Present Value of Ordinary Annuity refers to the concept which dictates the discounted value of a sum…

Q: Consider a credit card with a balance of $7000 and an APR of 12.5%. If you want to make monthly…

A: The objective of this question is to calculate the total amount paid over 11 years to clear a credit…

Q: An insurance settlement of $1.5 million must replace Trixie Eden's income for the next 35 years.…

A: Present value (PV) = $1,500,000 Interest rate = 7.5% Monthly interest rate (r) = 7.5%/12 = 0.625%…

Q: Suppose you lend ​$11,500 to a friend at an APR of 10.00​%. Your friend will pay you back beginning…

A: The periodic payment can be made monthly, quarterly, semi-annually or annually. Periodic payment is…

Q: You deposit $320 each month into an account earning 2% interest compounded monthly. Use the TVM…

A: Future value is the value of current asset at a particular date in the future when it has earned…

Q: You deposit $62000 into an account which pays 3% compounded monthly. You leave the money in the…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: You deposit $63000 into an account which pays 5% compounded semiannually. How much can you withdraw…

A: Given:Principal (P) = $63,000Rate (r) for every six months = 5%Semi-Annually Rate = 5%/2 = 0.025…

Q: also good for 13 years. How much money would you need to invest in Investment B today for it to be…

A: Information Provided: Monthly payment (Investment A) = $1650 APR (Investment A) = 7,8% compounded…

Q: ou would like to have $25,000 in 5 years for the down payment on a new house following college…

A: An annuity refers to a cash flow series that occurs periodically and that are usually fixed and…

Q: Harry Morgan plans to make 30 quarterly deposits of P200 into a savings account. The first deposit…

A: Solved using Financial Calculator  N= 30 (7.5 * 4 = 30) I/Y = 8/4 = 2 PMT = 200 CPT FV = 8113.62

Q: An aunt gifts you with $12,000, but only after you invest it for one year. She gives you two…

A: INTEREST RATE  4.2% 7.1% PERIOD   12 12 PMT  0 1000 PRESENT VALUE $12,000 0

Q: how much money will be in the account? How much of it is interest?

A: Annuity payments are the fixed periodic payments that an investor or depositor makes into an…

Q: If you buy a computer directly from the manufacturer for $2,815 and agree to repay it in 36 equal…

A: Present value = pv = $2815 Compound = monthly = 12 Number of payment = n = 36 Interest rate = r =…

Q: You borrow $18826 to buy a car. You will have to repay this loan by making equal monthly payments…

A: Borrowed amount is $18826 Time period is 5 years APR is 12% To Find: Monthly payment

Q: Suppose Jorge Otero has set up an annuity due with a certain credit union. At the beginning of each…

A: Compound = monthly = 12 Payment = p = $140 Interest rate = r = 6 / 12 = 0.5% Time = t = 15 months

Q: What is the value (in $) of Jorge's account after 16 months? (Round your answer to the nearest…

A: Information Provided: payment made = $150 Term = 16 months Interest rate = 6% compounded monthly

Q: You would Ilike to have $59,000 in 5 years for the down payment on a new house following graduation…

A: Note: No intermediate rounding is done, only the answer is rounded off to nearest whole number.a)…

Q: You deposit $66000 into an account which pays 5% compounded quarterly. How much can you withdraw at…

A: Perpetuity means infinite no. of payments which are same in size and made in equal intervals. Person…

Q: You borrow $8000 to help pay your college expenses. You agree to repay the loan at the end of 8…

A: From the given information, Principal (P) = $8000 Time (t) = 8 years r = 8% = 0.08 Compounded…

Q: You plan to deposit $200 at the end of every six months for 8 years starting at the end of month 6.…

A: Answer: Calculation of the amount that will be available to withdraw at the end of year 15: The…

Q: If you buy a computer directly from the manufacturer for $2,417 and agree to repay it in 36 equal…

A: 1. Present value of annuity. PV = A * 1-(1+r)-nr where , PV = Present value of annuity. A = periodic…

Q: Stan Slickum has a used car that can be bought for $8,500 cash or for a $2,000 down payment and $750…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: You have a balance of $8,000 on your credit card.  The interest rate is 19% per year.  You want to…

A: Solution:- When an amount is due for repayment, it can either be repaid as a lump sum payment or in…

Q: You deposit $57000 into an account which pays 7% compounded annually. How much can you withdraw at…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: ssume that you have a balance of $4600 on your Discover credit card and that you make no more…

A: Credit cards are financial instruments that allow users to borrow funds up to a predetermined limit…

Q: sume that you can buy a $6,800 computer system in monthly installments for 4 years. The seller…

A: The assets are bought on the loan and these loans are paid by the monthly installments and these…

Q: Connie wants to have an annuity payment of $2,050 at the end of every three months. How much should…

A: Annuity amount, P = $2,050 Interest rate per period, r = Number of compounding periods, n =

Q: Suppose that you have good credit and can get a 30-year mortage for $100,000 at 5%. What is your…

A: A mortgage is a loan made usually for a property in which the collateral is the property itself.

Q: You own $35000 from the bank for 3 years at 8.50% annual interest, and you will make equal monthly…

A: Solved using Financial Calculator  PV = 35,000 N = 3years * 12 = 36 I/Y = 8.5/12 = 0.708333 CPT PMT…

Q: You would like to have $59,000 in 5 years for the down payment on a new house following graduation…

A: Future Value= $59,000; No. of periods= 5*4= 20 years, Interest rate per period = 4.24/4=…

Q: Maria is considering purchase of a new machine. The purchase price of the machine is $12,000.  The…

A: Price of Machine =$12,000 Interest rate (r) = 15%/4 = 3.75 % per quarter Years =4 Terms(n) = 4*4 =16…

Q: sume that you have a balance of $4200 on your Discover credit card and that you make no more…

A: Credit cards are based on monthly payments and there is settlement on every month of card.

Q: You deposit $1,000 into an account every six months to help with your down payment savings for a…

A: Compound Interest = P(1 + r)nP = PrincipleR = Rate of Interest N = Period

Q: You want to have $60,000 in your savings account 12 years from now, and you're prepared to make…

A: When an equal amount is deposited each period at end of the period, it is called ordinary annuity.We…

Q: You plan to deposit $5,500 at the end of each of the next 15 years into an account paying 11.3…

A: a. Periodic deposit, P = $5,500Interest rate, r = 11.3%Number of deposits, n = 15 The future value…

Q: You would like to have $37,000 in 5 years for the down payment on a new house following college…

A: We need to use future value of ordinary annuity formula to calculate quarterly paymentFV= future…

Q: Mr. Gordon plans to invest $400 at the end of each month in an account that pays 6%, compounded…

A: V = Future value = $ 30,000         c = Periodic  deposit = $ 400         r = rate of interest…