Suppose you are considering working at a local coffee shop 5 nights a week. You expect to save $125 a month from the job after meeting all your expenses. To be eligible for the job you must undergo a week’s work training at the coffee shop. Assume the training costs you

Q: If one makes quarterly deposit of $1250 into an account that pays interest at a rate of 6%…

A: Given,  Quarterly Deposit= $1,250 Monthly Interest Rate=6% Therefore, Quarterly Interest Rate=…

Q: 1 You deposit $17,000 in a retirement account on your 25th birthday, and you plan to retire on your…

A: Here we calculate the following by using the given information , and conclude the answer so the…

Q: Year End-of-Year Payment 1 2 3 4 5 $1400 a. $7616 b. $7660 c. $7212 d. $5995 $1320 $1240 $1190 $1000…

A: The given series can be represented by the following cash flow diagram:Future value: Future value is…

Q: Interest can be computed more frequently than one time a year Select one: O True O False

A: Interest is the price of money that is borrowed.

Q: For a deposit of P150000 at 8.5% interest compounded continuously over 5 years, find the interest…

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

Q: Question 1: If you borrowed 18000$ at 4% annual interest. You agreed to repay the loan with five…

A: Answer; 1)Total Interest: $2,216.44 2)Interest= $448.82Principal=$3,594.47 3)Balance after 3rd…

Q: - Payday Quik Loan's customers must repay $105.50 one monthtater for each $100 of paycheck advance.…

A: Here, it is given that the present value is $100 and the future value is $105.50 after one month.…

Q: Consider a uniform series of cash flows. The first cash flow of $10,000 occurs at time 10 and the…

A: Given a uniform series cash flow in which first cash flow of $10,000 occurs at time 10 and last cash…

Q: Compute the missing values in the following cash flow diagrams Question 1 What is the present value?…

A: Given a specific return rate, the present value of an investment is the current worth of that…

Q: If you borrow $12,000 at 20% interest rate for 5 years, what is your ordinary simple interest in…

A: The interest amount for a specific principal amount of money at a given rate of interest is known as…

Q: Compute for the effective interest rate per monthl Nominal rate= 2.35% compounded yearly

A: The effective annual interest rate refers to the return on an investment or the rate owed in…

Q: 7. Lawrence takes out a loan for $8000 to start a business after high school. The bank charges him…

A: Here, given information is, Lawrence loan amount (P): $8000 Interest rate (r): 8% per year Time…

Q: Cash Flow is based on the notion that a dollar paid in the future is less valuable than a dollar…

A: The objective of the question is to calculate the present value of two different loans. The first…

Q: Sam has the option of purchasing a car for $30,000 or leasing it for a $375 payment made at the…

A: Given: Sam purchased a car for = $30,000 Leases it for = $375 per month Time period = 4 years The…

Q: 2. Mrs. X has just purchased a new car for 1M. She makes a down payment of 30% of the negotiated…

A: Answer in step 2.

Q: 6) Two annuitics in perpetuity have the same effective annual interest rate. The first annuity pays…

A: Given that; Two annuities in perpetuity have same effective annual interest rate. The first annuity…

Q: How much money will you have in seven yearsif you deposit $7,000 in the bank at 8.5%…

A: Compound interest rate is addition to the interest of interest. It can be applicable both loan and…

Q: Bobby has heard the importance of saving early for retirement. He wants to retire in 35 years. But…

A: Given,  Monthly Savings : $600 (PMT)Time to retire : 35 yearsTime to start savings : Now i.e 0Time…

Q: Tom Evers an attorney is planning for retirement. He earns $126,000 a year and estimates that he…

A: Given,  Tom earns $126,000 and estimates that he will need 80% of his salary for retirement in 10…

Q: Cash Flow is based on the notion that a dollar paid in the future is less valuable than a dollar…

A: The objective of the question is to calculate the present value of two different loans. The present…

Q: 17. What is the effective annual interest rate if the nominal interest rate is 6%, compounded…

A: Formula used - Effective annual interest rate = (1 + (nominal rate / number of compounding periods))…

Q: You want to be able to withdraw $25,000 from your account each year for 20 years after you retire.…

A: Annuity is a series of cash flows (generally equal in nature) made or received at equal intervals,…

Q: What uniform annual payment for 12 years is equivalent to receiving all of the following: $ 3,000 at…

A: In the question, the following are the values given: Each year payment = $3000 Number of years = 12…

Q: My son's YouTube channel (ILYAD) is making around $1000 per year at the moment (assume payments at…

A: There are three kinds of ordinary annuity here. The ordinary annuity means the same annual amount of…

Q: Derek borrows $294,333.00 to buy a house. He has a 30-year mortgage with a rate of 5.79%. After…

A: The term mortgage refers to a loan used to purchase or maintain a home, land, or other types of real…

Q: You are planning to have some retirement income and want to retire in 15 years. Until then you will…

A: Given:Value of first deposit=PW=$5000rate of deposit increase=g=4%rate of interest (compounded…

Q: You have won a lottery that pays you $100,000.00 at the end of this year, $110,000.00 at the end of…

A: Present value is the value of investment in today's dollar.Future value is the value of investment…

Q: 2. How much must be deposited at the end of each 3 months at 8% interest compounded quarterly to…

A: Future value = 90000 $ Time = 7 years Interest rate = 8 % compounded quarterly Quarterly rate  = 8 %…

Q: You want to buy a $13,000 car. The company is offering a 2% interest rate for 60 months (5 years).…

A: Loan amount of $13000 is the principal amount which is charged an interest rate of 2%. The number of…

Q: If you save $1,000 today and the annuel interest rate is 6%, what will that money be worth in 40…

A: Given, P = $1000 i = 6% t = 40

Q: Find the present value of a perpetuity payments of P 600 every 3 months with 6% compounded…

A: here we calculate the present value of perpetuity payment y using the present worth formula and…

Q: What is the present equivalent of a uniform series of quarterly payments of $4,500 each for 8 years…

A: Given  From the first quarter of year 1 to 4th quarter of year 8, the payment is $4500 From the…

Q: Suppose we deposit $1500 into an account that pays a simple interest rate of 0.5% each month. Find…

A: Deposit refers to the amount of money that is kept in the bank for safekeeping. Banks pay interest…

Q: How much is accumulated over two years in each of the following savings plans? a.$40at the end of…

A: Given data for the part (a) of the question is as below, Deposited amount at end of the month:…

Q: 6. Find leff if continuously. a 10% nominal interest is compounded

A: Effective interest rate, denoted by ieff, refers to the real interest rate that is to be applied on…

Q: 4. Calculate the present value of $8,000 duc in 4 years if interest is compounded annually at 3%.

A: Present value states that an amount of money today is worth more than the same amount in the future.…