Subject : - Finanace  assume you currently have a chase sapphire preferred card with a balance of 12,000 dollars. Behind the honest sort, suppose you resolve to pay off the credit card in five years and the stated APr charged by the credit card company the credit card is 19.00%. How much would your monthy payments have to be to reach your goal?

Q: Suppose you deposit $469 per week in a bank account for 5 years. The interest rate(APR) is 7.2%,…

A: present value of annuity = P * {1-[1/(1+r)^n]/r} Where, r = rate of interest per period i.e. 7.2%/52…

Q: 2. If the TVM is the only consideration, what nominal rate will cause all of the banks to provide…

A: The objective of the question is to find the nominal rate that will cause all of the banks to…

Q: 3. If you are planning a trip to other place after 3 years. And, if you intend to deposit savings of…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 2.A person got a loan of 200.000 € from Bank A at 12 % annual interest rate. The bond will be repaid…

A: Amortization table: It is the schedule showing repayment of the loan amount that includes principal…

Q: Find the annual financing cost (AFC) or a 30 day line of credit where the bank requires a 10%…

A: *Answer:  Data given: Loan amount                     =$214,296 Interest rate…

Q: Your bank pays 2.9% interest per year. You put $1,500 in the bank today and $550 more in the bank in…

A: The amount is two years will be the future value of the deposits made at times 0 and 1.FV=…

Q: The left bank is offering CDs at 5%. The right bank is offering a money market account at 4%. If I…

A: Fill in below with the information to set up the system of equations:  State your answer in complete…

Q: b. Consider a car loan of $18 000 at 7.5% p.a. to be repaid over 6 years. i. Calculate the monthly…

A:

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A: The objective of this question is to find out how many months it will take to pay off an unpaid…

Q: You have $1000 in an account earning 4% APR compounded daily.  At the same time, you are to pay a…

A: Interest rate compounded daily is 4% Amount in account(PV) is $1000 Amount needs to pay in future…

Q: uestion 1: Solve the following TVM problems using Excel formulas. You MUST use Excel formulas (FV or…

A: a. Future value$ 81,102.53b. Future value$ 85,289.85c. Future value$ 444,644.11Explanation:The above…

Q: a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal…

A: A: The formula for periodic deposit is: P = FV*r/(1+r)^n-1 Where P is the amount of periodic…

Q: 7. A company borrowed $100,000 from a bank, which charges them an interest rate of 5% per year.…

A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower…

Q: (A) If you want to have $250 in 5 years and you can earn an annual return of 7%, how much must you…

A: Time value of money is a financial concept that states that money today has a higher value than the…

Q: A bank has two options for a certificate of deposit of $4000. Option A has an annual interest rate…

A: Future value refers to the value of the current asset at some future date on the basis of inflation,…

Q: The bank officer is convincing a customer who is looking for a car loan. Compute the price the bank…

A: Ordinary annuity are the payments which are made at the end of a period.

Q: 2 (C). You have an outstanding loan currently. The bank requires you to pay in three installments at…

A: Explanation : In the given case, to be indifferent between the two options, the final payoff value…

Q: Suppose your credit card issuer states that it charges a 17.00% nominal annual rate, but you must…

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

Q: compounded 12 times a year. If the card holder wants to pay off will the card holder need to pay?…

A: Credit card balances are paid by the monthly payments and these monthly payments carry the payment…

Q: 7.  Your goal is to have $15,000 in your bank account by the end of eight years. If the interest…

A: The future value of an annuity is a financial calculation that represents the total value of a…

Q: You sign a mobile phone contract agreeing to pay £30 at the end of each month for the next two…

A: Present value (PV) is a financial concept used to determine the current worth of future cash flows…

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A: When the effects of compounding over time are taken into account, the effective annual interest rate…

Q: 5. A loan of $12,000 is to be repaid by three equal payments due today, two months from now, and one…

A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower…

Q: ts, which amounts to monthly compounding. What is the effective annual rate?   a. 24.23%

A: Investors and consumers can compare interest rates across a range of financial products with…

Q: Using an annual effective interest rate of 8%, determine X.

A: To determine the value of X, we need to calculate the present value of the cash flows using the…

Q: Q1= Suppose you borrow $15,000 at an interest rate of 8%, compounded monthly over 36 months. At the…

A: Since you have posted multiple questions, we will provide the solution only to the first question as…

Q: One can solve for payments (PMT), periods (N), and Interest rates (1) for annuities. The easiest way…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Q: Solve for the (1) in the blank Assume that you save 22,000USD to keep on the 1st day of every month…

A: Simple interest can be defined as the amount of interest to be computed on the original contribution…

Q: Problem 1 . Suppose that a borrower receives a 1,000 euro loan from Bank A, with a 10-year maturity…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Straight bank loan. Left Bank has a standing rate of 7.9% (APR) for all bank loans and requires…

A: As you have posted multiple questions, we will solve the first question for you. To get remaining…

Q: 3. If you receive $98 each month for 12 months and the discount rate is 0.07, what is the present…

A: In this Question we require to calculate the Present Value of Cash flows that we will receive every…

Q: Suppose you will need $43,000 in 21 years. If your bank compounds interest at an annual rate of 4%,…

A: Future Value (FV) of amount needed = $43,000Interest rate (r) = 4% or 0.04We need to calculate the…

Q: 3. You are considering taking out a loan for $17,000 to buy a new car. The annual interest rate is…

A: Compound = monthly = 12 Present value = pv = $17,000 Interest rate = r = 9.5 / 12% Time = t = 4 * 12…

Q: How much will accumulate in three years by depositing $560 at t Note: Use tables, Excel, or a…

A: Future value estimates are critical for making sound financial decisions, such as retirement…

Q: You just opened a brokerage account, depositing $4,500. You expect the account to earn an interest…

A:

Q: Use PMT= 1 - ( ₁ + - - - n to determine the regular payment amount, rounded to nt the nearest…

A: Given, The credit card balance is $5,600 Rate is 18% Term is 3 years

Q: COMPARING INTEREST COST. You currently have a credit card that charges 18.99% interest. You receive…

A: Answer:-  Interest cost meaning:- Interest cost is the overall sum of interest payments a borrower…

Q: Suppose your bank manager quoted you a 14% annual percentage interest rate on a loan that you need…

A: When the banker lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: I hope you could write the formula and process more clearly. Thank you

A: To solve this problem, we can use the formula for the present value of an…

Q: Suppose you plan to deposit $1000 at the end of each month into an account for eight months. If the…

A: In Simple Interest Annuity, the interest for each payment is calculated as single payment and the…

Q: Suppose that on January 1 you have a balance of $6,000 on the following credit cards, which you want…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal…

A: Periodic deposits in the given case can be the annual payments or annual deposits that can be made…