Juan has a goal of saving up $58,250 by making biweekly (26 per year) deposits into a savings account for the next 9 years. If the account has an annual interest rate of 1.2%, how much should each of his deposits be? Round your answer to the nearest dollar.

Q: Mark borrowed $18,742 to help pay for expenses. If the loan carries an annual interest rate of 3.9%…

A: From the given information we find the monthly payment.

Q: A principal of P86, 000 will amount to how much when invested 2 years and 6 months at 11.25%…

A:

Q: Your roommate asks to borrow $500 and agrees to pay it in 45 days with interest rate of 4%. How much…

A: Given  : P = Principal value = $500 r = Interest rate = 4% =0.04 t = time in years = 45365

Q: Miguel purchased a hot tub costing $5,010 by taking out an installment loan. He made a down payment…

A:

Q: Simone invests $4,000 in an account that compounds interest quarterly and earns 3%. How many years…

A:

Q: Kim borrowed $9,000 at  2  3/8% interest compounded daily.  How much will she have to pay back…

A: The amount earned when P amount is invested in a scheme offering compound interest at a rate of r%…

Q: Brittany invested $2,890 for 232 days at a simple interest rate of 2.50% p.a. How much more or less…

A: Solved below

Q: Joe took out a car loan for $12,000. He paid $4,800 in interest at a rate of8% per year. How many…

A: Considering it as simple interest, Number of years= 4800/{12000×0.08}= 5 years

Q: If you were investing money in an account and the interest rate was the same either way, would you…

A: If the same amount of money is deposited and the same rate of interest is applied then: Simple…

Q: A math teacher won a lottery that pays $1,000 per month for the next 20 years. But, he prefers to…

A: To find out the amount that the teacher will accept now.

Q: The Habers purchase a $6500 living room set and take out a two-year loan for the entire amount at…

A: given  principal P=$6500 interest rate i=26% i=2612 =2.1666% =0.021667 time t=2 years number of…

Q: Taylor plans to borrow $4,500 from the bank to purchase a used vehicle. If he borrows the money at…

A:

Q: You pay off a debt of $750 by paying 19% of the remaining balance each month. How many months will…

A: Given that , Initial debt D0=$750 r=19% when Dt=450 then t=?

Q: Carolyn will receive a 5% increase in pay this year and a 6% increase next year. What is the percent…

A:

Q: Susie is paying $512.49 every month for her $150,000 mortgage. If this is a 30 year mortgage, how…

A: Given: Month payment=$512.49 Mortgage=$150,000

Q: During a prolonged recession, property values on Long Island depreciated by 10% every 6 months. If…

A: Original cost of the property=200,000Value depreciated by =10% per 6 monthst=4 yearsand n=2   (no of…

Q: Instead of paying $20 per month, you decide to increase it to $50 per month.  How much will you owe…

A:

Q: and 6 months,

A: Introduction: Simple interest could be a fast and straightforward technique of calculative interest…

Q: 10 years ago, you purchased shares of stock in a corporation. Between then and now, the stock had a…

A: Given 10 years ago, you purchased shares of stock in a corporation. Between then and now, the stock…

Q: You inherited a house worth $650,000 today. If the value increases by 4% each year, what would the…

A: given: we inherited a house worth $650,000 today. If the value increases by 4% each year, we have to…

Q: Jay and Sybil are purchasing a home. They wish to save money for five years and purchase a house…

A:

Q: A bank loaned out $600,000, a part of it at the rate of 12% per year and the rest at a rate of 6%…

A: Let the amount loaned at 12% be: x Let the amount loaned at 6% be: y Total amount loaned out is: $…

Q: Susie is paying 594.16 every month for her 150,000 mortgage. If this is a 30 year mortgage, how much…

A: The monthly amount Susie paying per month = 594.16Total mortgage = 150,000The time period of…

Q: The Smiths bought a condo for $75,000. Assuming that the value of the condo will appreciate at 4.3%…

A:

Q: Isabella purchased $20,000 worth of 13-week T-Bills for $19,525. What will be the rate of return on…

A:

Q: On a balance of $25,000 the finance company charged simple interest of $4,000 for 2 years. Find the…

A:

Q: Amanda plans to invest $20,000 part of it at a 9% interest rate and part of it in a safer fund that…

A: Amanda plans to invest $20,000 part of it at a 9% interest rate and part of it in a safer fund that…

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A: Loan amount = 264,000 x (70%) = 184,800 Let's assume the monthly payments (EMIs) are made to pay…

Q: A payday loan is made for four weeks, where the amount of interest owed per $⁢100 borrowed is $10.…

A: Principal = $800 Time period for the loan = 4 weeks Amount of interest owed per$100 is $10   Total…

Q: Pablito has $1 and his grandma says she will give him 100% interest on that $1 every year if he…

A:

Q: The simple interest on a $710 three-year loan amounted to $276.  What was the annual interest rate…

A:

Q: Jake borrows $2,500 at an interest rate of 15% a year. If he repays the loan in 2 years, how much…

A: Assuming the simple interest, Interest = PRT/100 Where P= principal R = rate T = time

Q: Nathan invested $2,870 for 219 days at a simple interest rate of 2.75% p.a. How much more or less…

A:

Q: If you want to earn 5% simple interest, how much should you pay for a note that will be worth…

A:

Q: Wanda took out a payday loan with an effective interest rate of 19,300%. If she had $460 to invest…

A: Use the formula Interest=Principal×Rate×Time100 to calculate the interest.

Q: Susie is paying $531.8 every month for her $150,000 mortgage. If this is a 30 year mortgage, how…

A: Consider the given question,Total mortgage = $150,000 Monthly payment of Susie = $531.8Total time of…

Q: Simone invests $4,000 in an account that compounds interest quarterly and earns 7%. How many years…

A:

Q: Your employer offers a 401(k) plan with a 49% match, and you set a goal of retiring in 37 years with…

A:

Q: In planning her​ retirement, Liza deposits some money at 2.5​%​interest, with twice as much…

A:

Q: Jacob invests $14,000 in an account that compounds interest quarterly and earns 4%. How long will it…

A:

Q: During a prolonged recession, property values on Long Island depreciated by 10% every 6 months. If…

A: Formula: D=P1-rn where D= Depreciation value P= Present value r= Rate of depreciation n= Number of…

Q: During a prolonged recession, property values on Long Island depreciated by 10% every 6 months. If…

A:

Q: Susie is paying $577.02 every month for her $150,000 mortgage. If this is a 30 year mortgage, how…

A: The formula used to calculate the EMI (monthly instalment) for a loan is: EMI = P×r×1+rn1+rn-1 Here:…

Q: Mr. Charles, a rich businessman, divided his wealth of $170 million between his two sons, Jason and…

A:

Q: Kyle took out a loan at a simple interest rate of 6% for 10 years. He ended up having to pay $12,000…

A:

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A:

Q: During a prolonged recession, property values on Long Island depreciated by 5% every 6 months. If my…

A:

Q: If the interest rate on a $5,000 loan is 10%, what is the total amount due (principal and compound…

A: Principal  =  $5000  Rate  =  10%  =  0.1     Final amount to be paid    =  5000 × ( 1 + (10/100) )3…

Q: If you pay $5,500 for a simple interest note that will be worth $6,000 in 21 months, what annual…

A: topic - percentage