The balance in the account will be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
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- To purchase a specialty guitar for his band, for the last year JJ Morrison has made payments of $98 at the end of each month into a savings account earning interest at 5.84% compounded monthly. If he leaves the accumulated money in the savings account for another three years at 6.22% compounded quarterly, how much will he have saved to buy the guitar? GILD The balance in the account will be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.).To purchase a specialty guitar for his band, for the last three years JJ Morrison has made payments of $93 at the end of each month into a savings account earning interest at 5.41% compounded monthly. If he leaves the accumulated money in the savings account for another year at 7.07% compounded quarterly, how much will he have saved to buy the guitar? The balance in the account will be $nothing. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)You want to receive $350 at the end of every three months for 3 years. Interest is 5.4% compounded quarterly. (a) How much would you have to deposit at the beginning of the 3-year period? (b) How much of what you receive will be interest? (a) The deposit is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
- To purchase a specialty quitar for his band, for the last three years JJ Morrison has made payments of $92 at the end of each month into a savings account earning interest at 4.87% compounded monthly. If he leaves the accumulated money in the savings account for another year at 5.29% compounded guarterly, how much will he have saved to buy the guitar? The balance in the account will be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)to purchase a specialty guitar for his band, for the last three years JJ Morrison has made payments of $98 at the end of each month into a savings account earning interest at 4.67% compounded monthly. if he leaves the accumulated money in the savings account for another two years at 6.25% compounded quarterly, how much will he have saved to buy the guitar?To purchase a specialty guitar for his band, for the last three years JJ Morrison has made payments of $106 at the end of each month into a savings account earning interest at 4.61% compounded monthly. If he leaves the accumulated money in the savings account for another four years at 6.82% compounded quarterly, how much will he have saved to buy the guitar?
- To purchase a specialty guitar for his band, for the last year, Ricardo has made payments of $132 at the end of each month into a savings account earning interest at 5.93% compounded monthly. If he leaves the accumulated money in the savings account for another two years at 6.48% compounded quarterly, how much will he have saved to buy the guitar?Sam's family has decided that they will start depositing $100 at the end of every month into a saving account for 3 years. The account will earn interest at 4.6%/a, compounded monthly, Then, one month after the last deposit, they plan to withdraw money from the same account at the end of every month for 60 equal paynments for violin lessons for Sam. How much will each monthly withdrawal be?To help purchase his new minivan, Eric is taking out a $17,000 amortized loan for 6 years at 5.9% annual interest. His monthly payment for this loan is $280.94. Fill in all the blanks in the amortization schedule for the loan. Assume that each month is of a year. Round your answers to the nearest cent. 12 Payment number 1 2 1 40 41 Interest payment $0 $0 $41.98 Principal payment $0 $0 $238.96 $0 New loan balance $0 $16,604.31 $8299.52 $
- Yolanda deposited $1,600 at the end of each six months for 2 years in a savings account. If the account paid 8% interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.) qu Need Help? Read It Watch It Master ItGreg purchased a house recently for $365,000.00. He plans to put a 20% down payment and borrows the remaining amount from a bank. If the goal is to pay the least amount of interest, which bank should he choose (payments are paid at the end of each period)? a. Veglie Bank: Biweekly payment at an interest rate of 2.70% compounded biweekly for 18 years. O b. Lizzano Bank: Monthly payment at an interest rate of 2.65% compounded monthly for 20 years. c. Canisi Bank: Weekly payment at an interest rate of 2.39% compounded weekly for 22 years. O d. Sternatia Bank: Monthly payment at an interest rate of 1.99% compounded monthly for 25 years.Patricia set up a savings account for a trip that will cost $7,200 some time in the future. He will deposit $550 at the end of every six months into the account earning 5.441% compounded semi-annually. How long, in years and months, will it take for Patricia to reach his goal? Provide an explanation for your result. Full solutions should be shown on separate sheets of paper. Submit your solutions. year(s) and month(s)
