Find the amount of 18 payments that the anesthetist Joaquín Murillo must make at the beginning of each bimonthly period, if the amount he deposits bimonthly is $1,985. The interest is 15% per year, compounded bimonthly
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SOLVE STEP BY STEP IN DIGITAL FORMAT
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5.28 Find the amount of 18 payments that the anesthetist Joaquín Murillo must make at the beginning of each bimonthly period, if the amount he deposits bimonthly is $1,985. The interest is 15% per year, compounded bimonthly.
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- SOLVE STEP BY STEP IN DIGITAL FORMAT 5.28 Find the amount of 18 payments that the anesthetist Joaquín Murillo must make at the beginning of each bimonthly period, if the amount he deposits bimonthly is $1,985. The interest is 15% per year, compounded bimonthly.Assume that you start with a balance of $3900 on your credit card.During the first month you charge $400. During the second month you charge $650 and make a payment of $280. Assume that your credit card charges a 29% APR and each month you make the minimum payment of 2.5% of the balance. Complete the following table. Round your answer to the nearest cent. Month 1 Previous balance- $3900 Finance charge- $94.25 Purchase- 400 Payment ?97.50 New balance? Month 2 Previous balance- finance charge- purchase- payments- New balanceGive only typing answer with explanation and conclusion Tim Houston purchased a wall unit for $2,400. He made a $600 down payment and financed the balance with an installment loan for 48 months. If Tim's payments are $43.50 per month, use the APR formula to calculate what annual percentage rate he is paying on the loan. (Round your answer to two decimal places.)
- Make a table of computation for this if the given is: Amount Borrowed: 76,779.00 Periods: 60 months Rate is 0.1 Payment: 1,282.91 Zoom in the excel or the table and make sure it is readableOne of your customers has just made a purchase in the amount of $28,000. You have agreed to payments of $590per month and will charge a monthly interest rate of 1.44 percent. How many months will it take for the account to bepaid off?Multiple Choicea. 75.08 monthsB. 86.63 months C. 80.44 monthsD. 47.46 monthsE. 36.43 monthsUse the PMT function in Excel to compute the monthly payment on a $351000 business loan at an annual interest rate of 4.46% over 30 years, where the interest is compounded monthly. Hint: The PMT (Payment) function is entered in Excel as =PMT(Rate, Nper, Pv, Fv, Type). Fv and Type are not necessary. Ignore them. Enter the amount of your monthly payment below. Do not include the dollar sign ($).
- You have a credit card with an APR of 22.8%. You begin with a balance of $1500, in response to which you make a payment of $250. The first month you make charges amounting to $550. You make a payment of $250 to reduce the new balance, and the second month you charge $650. Complete the following table. (Round your answers to the nearest cent.) Previous balance Payments Purchases Finance charge New balance Month 1 $1500 $ $ $ $ Month 2 $ $ $ $ $Assume that you start with a balance of $3900 on your credit card. During the first month, you charge $400, and during the second month, you charge $650. Assume that your credit card charges a 27% APR and that each month you make only the minimum payment of 2.5% of the balance. Complete the following table. (Round your answers to the nearest cent.) Previous Balance Finance Charge(+) Purchases(+) Payments(-) New Balance Month 1 3900 Correct. 87.75 Correct. 400 Correct. 97.50Correct. 3890.25 incorrect. Month 2 3890.25 Incorrect. 87.52 Incorrect. 650 Correct. 97.25Incorrect. 3880.27Incorrect.A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $14,000 each, with the first payment occurring today, your child's 12th birthday. Beginning on your child's 18th birthday, the plan will provide $25,000 per year for four years What retum is this investment offering? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g, 32.16.) Return 0% References eBook & Resources Worksheet Section: 4.3 Compounding Periods Difficulty: 3 Challenge Section: 4.4
- Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. (Round your answer to the nearest cent.) Balance: $300 Rate: 17% Payment: $50 Method: Adjusted balanceUse excel to calculate the total interest on a cell phone for $386 at 5.11% interest over two years making monthly payments. Round your answer to the nearest hundredth. Enter your answer as a positive number. Please help me, pleaseeeSOLVE STEP BY STEP IN DIGITAL FORMAT Instructions. Solve the following problems using the Compound Interest formula.Compound interest.Formula to calculate Compound Interest.S = C(1 + (J/m))^(mn)1. Calculate the Amount of Compound Interest in 7 years of a capital of 8,000 with a rate of 11%, compounded monthly.2. Calculate the Amount of Compound Interest in 2 years, 6 months of a capital of 12,400 with a rate of 9%, compounded bimonthly.