E-Loan, an online lending service, recently offered 36-month auto loans at 4.8% compounded monthly to applicants with good credit ratings. If you have a good credit rating and can afford monthly payments of $371, how much can you borrow from E-Loan? What is the total interest you will pay for this loan? You can borrow S. (Round to two decimal places.) You will pay a total of S in interest. (Round to two decimal places.)

Q: Retirement Ray contributes $1000 to an individualretirement account (IRA) semiannually. What will…

A: Individual retirement account

Q: E-Loan, an online lending service, recently offered 36-month auto loans at 4.5% compounded monthly…

A:

Q: 14 ​years? ​(c) How much would she lose or gain over 14 years by investing in her​ sister's firm?…

A: Solution:-

Q: An Individual Retirement Account (IRA) is an account in which the saver does not pay income tax on…

A: Formula used: Amount=P1+r1002n Given; P=$2000r=818%=658% Here, P is the principal, r is the rate and…

Q: A college plans to set up an endowment fund that will provide a scholarship of $4,000 at the end of…

A: Given that the scholarship a college provides at the end of every quarter year in perpetuity is…

Q: Finance. A person wishes to have $20,300 cash for a new car 6 years from now. How much should be…

A:

Q: E-Loan, an online lending service, recently offered 48-month auto loans at 4.8% compounded monthly…

A:

Q: A certain appliance depot sells a new smart phone for 18,000 php. It offers the buyer payments of…

A: Here we solve the given problem.

Q: A recent graduate's student loans total $18,000. If these loans are at 4.2%, compounded quarterly,…

A: A recent graduate's student loans total $18,000.If these loans are 4.2%,compounded quarterly,for 8…

Q: percent) Jose invests $7,250, at 8% interest, compounded quarterly for 10 years. Calculate the…

A: We will solve the problem

Q: Analysts at Sky West Airlines did a 3 year projection of expenses. They calculated that the company…

A:

Q: ​E-Loan, an online lending​ service, recently offered 48​-month auto loans at 4.8% compounded…

A: Given that,         Periodic Payments PMT = $496        Rate of Interest per period,…

Q: The major Airline is planning to purchase new airplanes. It wants to borrow $800 million by issuing…

A: The information given for the first question is: Principal Amount = $800 million Time = 10 years…

Q: A college atudent borrows $10,000 today at 10% interest compounded annually. For years later, the…

A:

Q: You have a big account that has a 6% interest rate and is compounded semiannually. How much should…

A: The formula for compound interest is given by A=P1+rnnt where A is the Amount, P is the principle, r…

Q: Laura has decided to invest $5,000.00 at the beginning of the quarter for 10 years. If the interest…

A:

Q: A recent graduate's student loans total $16,000. I these loans are at 5%, compounded quarterly, for…

A:

Q: A woman deposits $12,000 at the end of each year for 15 years in an investment account with a…

A: Given that a woman deposits $12,000 at the end of each year for 15 years in an investment account…

Q: You open a brand-new savings account January 1, 2021. every paycheck you earn you deposit $25 into a…

A:

Q: How much interest is earned in 5 years on P50,000 deposited in a bank paying 3% interest per annum,…

A:

Q: The Omega Venture Group needs to borrow to finance a project. Repayment of the loan involves…

A:

Q: How much is P1,200 worth at the end of 1 year if the interest rate of 5.5% is compounded quarterly?…

A:

Q: Hazel is 24 and wants to retire at age 62. She deposits $1,100 at the end of every 6 months into a…

A: We have to find how much money does she have in the fund when she retires, size of the monthly…

Q: Zero-Coupon Bonds How much should a $10,000 face-value, zero-coupon bond, maturing in 10 years, be…

A:

Q: Down Payment To start a new business, Beth deposits $1000 at the end of each 6-month period in…

A: Given: Deposits at 6 month period=$1000Rate of interest compounded semiannualy=8%Total time period=8…

Q: Finance. A person wishes to have $23,900 cash for a new car 3 years from now. How much should be…

A: 1 year consists of 52 weeks. So, the interest will be compounded 52 times annually. The formula for…

Q: You borrow $10,000 from a bank for three years at an annual interest rate of 12% compounded…

A: Based on the formula of compound interest, A = P (1 + r/n)^(n*t) A = Total Sum P = Principle value r…

Q: Finance. A person wishes to have $16,800 cash for a new car 6 years from now. How much should be…

A:

Q: E-Loan, an online lending​ service, recently offered 60-month auto loans at 4.5% compounded monthly…

A:

Q: At the time of her​ grandson's birth, a grandmother deposits $13,000in an account that pays 2%…

A: Given:- At the time of her​ grandson's birth, a grandmother deposits $13,000 in an account that pays…

Q: A credit card charge 29% p.a interest compounded daily. Assuming that you borrow $3000 on the credit…

A:

Q: Recent sales of some real estate and record profits make it possible for a manufacturer to set aside…

A: Given Amount =$1,000,000 time 6 years rate 7.7%

Q: You have taken out a 5-year, $17,000 car loan with Caddy Shark Loan Corp. The nominal interest rate…

A:

Q: Recently, More Money 4U offered an annuity that pays 5.1% compounded monthly. If $2,307 is deposited…

A:

Q: Benjamin wants to accumulate at least $45,000 by depositing $1,200 at the end of each month into a…

A:

Q: E-Loan, an online lending service, recently offered 48-month auto loans at 4.8% compounded monthly…

A: Let's find borrow amount.

Q: You borrow $450,000 from a bank to buy a house, at a rate of 2.25%, for 30 years. How much will your…

A: In the given problem,  P=450,000 $r=2.25% compounded monthlyt=30 years Here, interest is compounded…

Q: Investments Find the 7-year future value of aninvestment of $20,000 placed into an account thatpays…

A: The amount of investment is $20,000 The time period of the investment is 7 years The rate of…

Q: Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes…

A: It is given that, Rate: 7.5% compounded monthly Time: 3 years Financial Goal: $25,000

Q: Simon invests $1,700 in an account that earns an annual interest rate of 4.5% compounded daily. What…

A: Given query is to find the future amount after 4 years.

Q: Videotech specializes in online security software development. It wants to have $94 million…

A:

Q: lynn deposits $683.09 at the beginning of each quarter for three years in order to accumulate…

A: Given Periodic contribution, P=$683.09 Sinking fund, A=$9500.60 Time period, t=12 Quarters

Q: 2. Amy invested $5,600 in a five year CD that pays eight percent compounded quarterly. What is the…

A: Compound Interest formula,A= P1+rnntWhere,A= future value or final amountP = investment or initial…

Q: Stark Industries, wants to set up a trust fund for its new research facility, earning 12% compounded…

A: The rate of interest is 12%. The periodical payment is 10 million. We need to calculate the amount…

Q: E-Loan, an online lending service, recently offered 48-month auto loans at 4.8% compounded monthly…

A:

Q: A passbook savings account has a rate of 8 %.Find the effective annual​ yield, rounded to the…

A: Let’s assume the final amount given in the passbook is A.The given data is rate of interest 8%, time…

Q: recent college graduate with $19,000 in student loans decides to leave the country without making…

A:

Q: Jennifer's pension plan is an annuity with a guaranteed return of 6% per year (compounded monthly).…

A: Given query is to find the amount received per month after retirement.