You’re prepared to make monthly payments of $190, beginning at the end of this month, into an account that pays 6 percent interest compounded monthly. How many payments will you have made when your account balance reaches $10,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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You’re prepared to make monthly payments of $190, beginning at the end of this month, into an account that pays 6 percent interest compounded monthly. |
How many payments will you have made when your account balance reaches $10,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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- You're prepared to make monthly payments of $260, beginning at the end of this month, into an account that pays 12 percent interest compounded monthly. How many payments will you have made when your account balance reaches $67,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of paymentsYou're prepared to make monthly payments of $220, beginning at the end of this monthinto an account that pays 8 percent interest compounded monthly.How many payments will you have made when your account balance reaches $59,000(Do not round intermediate calculations and round your answer to 2 decimal place!e.g., 32.16.)You’re prepared to make monthly payments of $225, beginning at the end of this month, into an account that pays an APR of 6.5 percent compounded monthly. How many payments will you have made when your account balance reaches $15,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
- Suppose that on January 1 you have a balance of $3100 on a credit card whose APR is 17%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1 a. Calculate your monthly payments.b. When the card is paid off, how much will you have paid since January 1?c. What percentage of your total payment from part (b) is interest?Suppose that on January 1 you have a balance of $5300 on a credit card whose APR is 13%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1. a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part (b) is interest? . a. The monthly payment is (Do not round until the final answer. Then round to the nearest cent as needed.)Suppose that on January 1 you have a balance of $6200 on a credit card whose APR is 18%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1 a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part (b) is interest? C... a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
- Suppose that on January 1 you have a balance of $2600 on a credit card whose APR is 13%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1. a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part (b) is interest? ... a. The monthly payment is $. (Do not round until the final answer. Then round to the nearest cent as needed.) b. The total paid since January 1 is $. (Use the answer from part (a) to find this answer. Round to the nearest cent as needed.) c. The percentage of the total paid that is interest is %. (Use the answer from part (b) to find this answer. Round to one decimal place as needed.)Suppose that on January 1 you have a balance of $3800 on a credit card whose APR is 13%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1. a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1? c. What percentage of your total payment from part (b) is interest? a. The monthly payment is $ ☐. (Do not round until the final answer. Then round to the nearest cent as needed.)Suppose you plan on saving money at the end of each month in an account that earns 6.6 percent compounded monthly. How much do you need to deposit each month to have a balance of $60,235 at the end of 9 years? (Do not round any intermediate calculations. Round your final answer to 2 decimal places and enter it in the box below.)
- You want to withdraw $ 54,777 from your account at the end of one year and $ 10,521 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals? Your account pays 12 percent p.a. (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).You are to make monthly deposits of $675 into a retirement account that pays an APR of 10.3 percent compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 31 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)Answer the following (up to two decimal points) by showing the working calculation. The rates of the months for 2018 are shown in the table below. There are 28 days in February and assume you withdraw hibah at the end of each month. Any positive or negative increment in the monthly rates shown is based on the basic rate. You open a new wadiah account with a deposit of RM5000 on 28.01.2018. You deposit another RM1000 and RM5500 on 13.02.2018 and 30.03.2018 respectively. Again, you deposit another RM1550 on 31.05.2018. Then, you deposit another RM8500 on 10.06.2018 but withdraw RM5000 on 28.06.2018. On 15.12.2018, you withdraw another RM2000 from the account and then withdraw again another RM3250 on 28.12.2018. What will be your total hibah on 30.12.2018? Table 1: Monthly rates Month Rate (%) Jan 4.00%* Feb +0.00% March +0.10% April -0.10% May +0.10% June +0.20% July -0.10% Aug +0.20% Sept +0.10% Oct +0.20% Nov -0.10% Dec +0.00% * Basic rate 2. Suggest two (2) financial instruments or…