You decided it is important to pay off some of your debt to help build your credit score. If you paid $1,307 interest on $45,000 at 4.0%, what was the time, using exact interest?

Q: Suppose you want to have $500,000 for retirement in 20 years. Your account earns 5% interest. a) How…

A: TVM refers to the capacity of money to earn interest because money earned earlier is considered more…

Q: Imagine you deposited $500 in a savings account that had an annual interest rate of 5% for 5 years.…

A:

Q: Each of the problems below is incomplete. Determine the missing data to solve the problem. 1. To buy…

A: Because you have posted multiple questions, we will answer the first question only, for the…

Q: Katherine Hunt is evaluating her debt safety ratio. Her monthly take-home pay is $3,160. Each month,…

A: The safety ratio, often used in personal finance and investment, is a financial metric that assesses…

Q: 3. In the 2nd week of the year, Carrie had $700 in her savings account. At 5 weeks she had $325. Use…

A: Given At x=2,  y=700  At x=5,  y=325 Consider the equation as y=ax+b …(1), where a and b are…

Q: Annie's mortgage statement shows a total payment of ​$603.66 with ​$532.99 paid toward principal and…

A: The objective of the question is to calculate the total amount in Annie's escrow account after six…

Q: If you made $500 after investing $1500 in a bank CD for 5nyears, what percent simple interest did…

A: Interest rate can be calculated by dividing amount earned with total amount of investment.

Q: Prepare the following calculations. principle on a note is $ 4,000, interest rate is 5%, time is 2…

A: 1. Interest = Principle x Interest rate x Time in Years = $4000 x 5% x 2 = $400 2. Interest =…

Q: You have just remembered that four years ago you placed $1,000 in a bank account. If the bank was…

A: PV x (1+r)n=FV

Q: You want able to withdraw 15,000 each month for 15 years. your account earns 3 1/4% interest. a.…

A: Investments are the ways in which individuals and corporations park and save their money and funds…

Q: Solve the following problems by showing your formula and computation: 1. what is the simple…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: Net Income: Assume that your starting salary will be $55,000 per year, and assume that you have no…

A: As per the Q&A authoring guidelines, The first question should be answered when multiple…

Q: Michael Perez deposited a total of $2000 with two savings institutions. Bank A pays interest at the…

A: Interest refers to the cost of borrowing money or the return earned on invested funds. When someone…

Q: You just borrowed $15,000 from a finance company to start a business. If you are required to repay…

A: The objective of the question is to calculate the expected real rate of interest given the amount…

Q: Chandrika deposits $500 in an account paying an effective quarterly interest rate 2.01875%. Muhammad…

A: Present Value:  The present value (PV) is the present sum of the future payments. The future…

Q: your home was recently appraised for $176,000. The balance on your existing mortgage is $111,500. If…

A: A home equity loan is a financial option that enables homeowners to borrow against the equity…

Q: ou just borrowed $490,000 for a mortgage on your new home. The mortgage has a 30​-year term with…

A: Mortgage loans make home buying home easy because paid by easy monthly payments that carry payment…

Q: Five years ago, you saved $5,000 in account X that pays a compounding interest rate. You also saved…

A: Interest means the extra amount which we received because of investment made and will be paid in…

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Interest Rate = 6% APR Previous Balance = $1,173 Calculation of Number of days between is as follow:…

Q: Brandon has reached his credit card limit of $5000.00. Using an online calculator, Brandon…

A: When an investor borrowing money for the purpose of meet the obligations then, the cost that charged…

Q: Boris is saving for the down payment on a house. He deposits $13,750.00 today, $6,000.00 in 5…

A: The Future Value of a lumpsum deposit: An amount deposited earns an interest over its investment…

Q: Let's assume you finance your house through Wells-Fargo Bank. Below, please find the…

A: The objective of this question is to calculate the finance charge, which is the total amount of…

Q: If you have ATM fees each month of $8 for 4 years, what is the total cost of those banking fees?

A: A cost system is a system that is designed to evaluate the cost incurred by the company.

Q: 6) You started a simple interest savings account with $6,000. In 41 years, the account grew to…

A: Principal = $6000 Future value = $17,700 Interest amount = $17700-$6000 = $11700 Year =41

Q: Use the unpaid balance method to calculate the finance charge on Joanna's credit account if last…

A: Computation: