Receive 120 USD in two years

Q: Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500…

A: The loan is the amount of money which would result in the amount of money borrowed and used for…

Q: Compute the interest rate if future value (FV) = $11461, present value (FV) = $3959,  and number of…

A: Compound interest is the interest computed on the principal and the interest accumulated over the…

Q: If you deposit $2,042 today in a savings account that pays 8% interest annually, how much would you…

A: Given: Principal (P) = $2042 Interest rate (R) = 8% annually Time (T) = 5 years

Q: On March 25, you borrow some money for 120 days.  What is the maturity date?

A: Remaining Number of Days in March - (31-25) = 6  Number of Days in April - 30 Number of Days in May…

Q: homeowner planning a kitchen remodeling can afford a $700 monthly payment. How much can the…

A: Given,   R = $700  Time = 5 years  Rate (r) = 9%

Q: Please show work

A: According to the question, an investment of $2,000 has made for 20 years at 8% per year. The amount…

Q: A person borrowed $200 for one month and paid $30 in interest. However, she did not know whether the…

A: We can calculate the total amount to be repaid and the annual interest rate for both simple and…

Q: A businessman needs to have P200,000 in eight years. How much(P) must he put into his 18% savings…

A: Compound interest formula: FV = P (1 + r / m)nm Where FV is the future value P is the principal…

Q: How much must be invested now at 6% simple interest to accumulate $1,000 at the end of 5 years?…

A: Information extracted in the question: Simple interest = 6% Future value = $1000 Time = 5 years

Q: Suppose you were given a one time gift of $10,000 to put into a savings account. The account earns…

A: Compound interest is the rate of interest that is used to calculate the value added to a loan or a…

Q: A credit card company wants your business, you accept their offer and use their card, the will…

A: FVF= (1+r)15-n

Q: Picabo borrows $1000. To repay the amount, she makes 12 equal monthly payments of $93.12. Determine…

A: The annual percentage rate (APR) is a direct measure that includes nominal interest rates and fees…

Q: You bought an antique car three years ago for $500 000. Today it is worth $650 000.(a) What annual…

A: Time (t =) 3 years;    Principle (P) = $500,000   Worth after 3 youlf x= $ 150,000

Q: Someone deposits $3,500 in their retirement account every year. If their account pays an average of…

A: Given data Some one deposits = $ 3500 Intrest rate = 6% FV of her deposit = PV of her 20…

Q: To find the balance in the account at the end of the calendar year, we calculate the effective…

A: The cash Flow Diagram is given below

Q: hi the Rebate Fraction is incorrect

A: In this case, we have to discuss the rebate fraction. Rebate fraction is actually indicating the…

Q: ohn paid $500 per month for 20 years to pay off a mortgage on his house. If his down payment was…

A: Future value and present value are the economic terms that are used to determine the future or…