10. A mortgage has an initial balance of $150,000 and is charged 5% yearly interest applied monthly. If a person makes a payment of $1000 each month, which of the following is closest to the mortgage balance after 3 months of payments? (1) $145,165 (3) $148,160 (2) $147,520 (4) $148,870

Q: 2. What sum of money must be deposited at the end of every three months into an account paying 3.7%…

A: Since you have posted a multiple question according to guildlines I will solve first  question for…

Q: 1)  After working for 40 years, you decide to retire.  Suppose you set up your account as perpetuity…

A: NOTE:- AS POSTED MULTIPLE INDEPENDENT QUESTIONS. WE ARE ANSWERING ONLY FIRST QUESTION FOR YOU AS PER…

Q: . Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a…

A: Answer a. Face Value = $1,000 Annual Coupon Rate = 7.00%Annual Coupon = 7.00% * $1,000Annual Coupon…

Q: 11. Find the simple interest on a loan of P65,000 if the loan is given at a rate of 20% per annum…

A:

Q: 5. A car may be purchased with a $3500 down payment now and 72 monthly payments of $480. If the…

A: Monthly payment of the loan is A=$480 and number of monthly payments is 72  Monthly rate of interest…

Q: a. Annual payments of 8,000 for 12 years that will start 7 years from now. b. Quarterly payments of…

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Q: At age 25, you start to work for a company and are offered two rather fanciful retirement options.…

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Q: 2)A borrower is repaying a loan with payment of $3,000 at the end of every year over an unknown…

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Q: B. Find the present value of the following general annuities. 1. monthly payments of 2,000 for 5…

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Q: Suppose that on November 1, 2021you have balance of $12,000 on your credit card, which you want to…

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Q: If a business borrows $12,700 and repays $22,225 in 5 years,what is the simple interest rate?

A: Simple interest formula for an amount of P for an interest rate r% of t years is given by the…

Q: 2. Determine the present value of quarterly payments of $250 for 2.5 years at 2.4% per year…

A: Topic:- algebra  Note :- as per our guideline if more than one question uploaded than only first…

Q: . Ronald, a recently hired employee of Hat Corp, would like to retire in 30 years with a balance of…

A:

Q: 3. How many more monthly payments are made for a 5-year loan than for a 2-year loan?

A: Number of monthly payment for a 5year plan is = 5*12=60 months. (in 1year total number of months is…

Q: 2. Determine the present value of quarterly payments of $250 for 2.5 years at 2.4% per year…

A: Find out the present value.

Q: Suppose a graduate student receives a non-subsidized student loan of $13,000 for each of the 4 years…

A: The term non-subsidized student loans refer to the loan in which the interest starts to accrue as…

Q: 5. In working problems involving interest, if the payment period of the interest is quarterly, then…

A: We know, quarter of a period is 14th of the period. Hence, In working problems involving interest,…

Q: 3.1 Table 1 below is a loan factor table that shows the monthly repayments per RI 000 on a home loan…

A: When we take a loan we have to repay the amount in fixed intervals including partial principal and…

Q: 3. Rico placed P20,000 in a time deposit with an interest of 8% computed quarterly. If his time…

A: Given : Principle amount (p) =20000 Interest(r) =8% Compounded quarterly i.e once in 4 months To…

Q: 2. The Taylors agreed to monthly payments rounded up to the nearest $100.00 on a mortgage of $136…

A:

Q: Suppose we have a four year fixed-payment loan with $1000 payments made at the end of each year.…

A: $1000 payments made at the end of each year. Total amount at the end of 4 years is A=$1000*4=$4000.…

Q: Suppose your bank has a minimum interest policy for single-payment loans of $60. Using ordinary…

A:

Q: 2. Mr. Layug had a 43,000-peso business loan that is to be paid in 8 months. If interest rate is 8%…

A: As per the guidelines we can solve 3 parts only

Q: A loan of $20,000 is to be repaid in thirteen equal annual payments each payable at year-end.…

A: Given Data:  Loan Amount = $ 20000, Repayment Tenure = 13, Interest Rate = j1 = 4% Let the equal…

Q: 1. Determine the present value of a series of 60 monthly payments of $2,500 each which begins 1…

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

Q: 6. A payday loan company charges a $35 fee for a $550 loan that will be repaid in 17 days. If we…

A: We will follow the below steps to find the annual rate of interest for pay day loans

Q: Suppose that an annuity has a present value of P = 1 million dollars. What interest rate r would…

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Q: 2.     Suppose Lita lends to Lito ₱13,650.00 under the condition that simple interest will be…

A: We need to determine the amount that Lito needs to pay after 1 year and the interest earned by Lita.…

Q: In order to buy a new car, you finance $28,000 with no down payment for a term of five years at an…

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Q: What is the present value of a loan when a monthly payment of P3, 250 is needed to extinguish for…

A: To solve the given problem we shall use the following formula…

Q: What sinking fund payment would you need to make at the END of each three months, at 6% interest…

A: What sinking fund payment would you need to make at the END of each three months, at 6% interest…

Q: A bond issue is approved for building a regular payments of $96,000 every quarter into a sinking…

A: Given: To find the interest and amount how much will the city have to pay, The given details: i =…

Q: 1. The management of a corporation anticipates a capital expenditure of $500,000 in 5 year for the…

A: We will be using compound interest formula to find instalment needed.

Q: 4. The buyer of a certain machine may pay either Php 20,000 cash down payment and Php 20,00o…

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Q: 11. Mr Alberto expects to have P1 615 200 in his fund at the end of 12 years. How much will he…

A: Let us consider the principal amount be P  Then the amount obtained after t years at the interest…

Q: A payment of $2,650 is due in 2 years and $3,600 is due in 4 years. These two original payments are…

A: Solution:   Effective annual rate, r = (1 + 0.0475/4)^2 - 1 r = 0.02389101 First, let's find the…

Q: 1. The Jacobs family is planning to buy a home. They have some money for a down payment already.…

A: The formula of Monthly payment for loan:                       M =Pr121+r1212t1+r1212t-1 where M=…

Q: If a certain present value P is amortized into 10 equal payments, then the future worth F will…

A: I am going to solve the given problem by using some simple calculus to get the required result of…

Q: A homebuyer wishes to finance the purchase with a $95,000 mortgage with a 20-year term. What is the…

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Q: 18. Lupe Martinez will owe her retired mother $45,000 for a piece of land. Find the required…

A: 18. Here the principal amount is $45000Time is 4 yearsinterest rate is 10% which compounded…

Q: 2. What is the monthly payment for a loan of 100,000 over 5 yea nominal interest rate is 12%…

A: This is a problem of financial math, series.

Q: a. Annual payments of 8,000 for 12 years that will start 7 years from now. b. Quarterly payments of…

A: Given : (a) Annual payment of 8000 for 12 years that will start 7 years from now (b) Quartely…

Q: What is the amount to be paid if the debt is paid at once at the end of the term

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Q: Your grandfather left an inheritance for you of $80,000. However you can only drawdown on the…

A: Since you have posted multiple questions, we will solve only first question for you. To get…

Q: To supplement your planned retirement in exactly 42 years, you estimate that you need to accumulate…

A: a)To get the amount of each annual payment (PMT) ;   PMT={FVA _{42}} ÷(\frac{(1+0.08)^{42}-1}…

Q: 9. What equal uniform annual payment for nine years beginning two years from now would be equivalent…

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Q: Suppose that on January 1 you have a balance of ​$3500 on a credit card whose APR is 18​%, which you…

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Q: A $5000 bond with a coupon rate of 6.25% and redeemable in two years was purchased when the yield…

A: Given that P is 5000 The coupon rate is 6.25% And the yield rate is 7.75%. The formula is,…

Q: What is the necessary amount of monthly payments to an account paying 1.9% compounded monthly in…

A: