Kathy Crag, the owner of The Fabric Corner, lent $15,000 to Dani Flynn to open her own card shop. Dani plans to repay Kathy at the end of 7 years with 8% interest compounded quarterly. How much will Kathy receive at the end of 7 years?

Q: Mark deposits $1000 each month in a retirement plan paying 7% compounded monthly. How much will he…

A:

Q: Tony Ring wants to attend Northeast College. If he deposits $34,507 today, how much will he have 4…

A: Given Principal amount = $34,507 Interest rate = 12% compounded semiannually Time = 4 years

Q: You decides to buy a car by making a deposit of 20% and R2500 every month for 3 years. If the…

A: periodic monthly car payment =R2500 calculating the loan amount of car using the PV of annuity…

Q: Jasica Parker would like to have $75,000 to buy a new car in 6 years. To accumulate $75,000 in 6…

A: Solution :-

Q: Marwan provides a donation of $4291 to a college with the provision that a scholarship is paid at…

A:

Q: Shawn made equal deposits at the beginning of every 3 months into an RRSP. At the end of 10 years,…

A: Let quarterly deposits be x  Interest rate = 2.2512%=0.001875  Time = 10 years Period n = 10 x 12 =…

Q: John and Rosamond Want to retire in six years and can save $190 every three months. They plan to…

A:

Q: Jaspreet set up a fund that would pay his family $4,500 at the beginning of every month, in…

A: We can evaluate the following as follows

Q: Millet wants to provide a 200,000 graduation gift for her daughter Mae who is now 16 years old. She…

A: Given: A=200,000R=10%T=4 years We have to find principal (P) we know that A=P1+rnnt ...(i) here…

Q: Find the amount of ordinary annuity. (Interest is compounded annually.) R = $13,400, i = 0.045, n =…

A: Find the amount of ordinary annuity. (Interest is compounded annually.) R = $13,400, i = 0.045, n =…

Q: Justin received an excellent interest rate for his loan of $7,000. Calculate the nominal interest…

A:

Q: Grandma Riley wants to help Scott while he's in college by giving him a $220 monthly allowance for 5…

A:

Q: How much will you need to invest today in an account paying 7% compounding quarterly to have $10,000…

A:

Q: Clearlake optical has a $50000 note due in 3 years. The owners wish to create a sinking fund to pay…

A:

Q: Alain Dupre wants to set up a scholarship fund for his school. The annual scholarship payment is to…

A: Given Amount=$2300 Rate of interest=3.3%

Q: A house costs $350,000. You pay a 15% down payment and amortise the rest with equal monthly payments…

A:

Q: Jasica Parker would like to have $95,000 to buy a new car in 6 years. To accumulate $95,000 in 6…

A: Given data: Amount Jessica would like to have=$95,000 Number of years =6 Annual rate of interest of…

Q: After putting down 20% of $110,000 on a house and paying an interest rate of 3.5% compounded…

A:

Q: Barbara Katzman bought an income property for $32,000 four years ago. She has held the property for…

A: Below is the solution:-

Q: What amount should be deposited today to buy for a P 216,000.00 house and lot in 6 years? The bank…

A: We need to find the amount that should be deposited today to buy for a P 216,000.00 house and lot in…

Q: A homeowner planning a kitchen remodeling can afford a $300 monthly payment. How much can the…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=300 r=9%=0.09 t=4 years…

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 5% interest…

A:

Q: If you deposit P4000 into an account: paying 6% annual interest compounded quarterly, how much money…

A: Compound interest

Q: Mckenna’s family bought a cottage and now have a mortgage in the amount of $78 000. They will repay…

A:

Q: Shannon finances her new car with a $9,900 auto loan. The loan has a 5-year term at a fixed annual…

A:

Q: Juan Dela Cruz wants to deposit P5, 000 every quarter at 16% compounded quarterly for 5 years. How…

A: Compound Interest: A=P(1+rn)nt P: the principal, amount of deposit  A: the new balance  t: the time…

Q: Devin set up a fund that would pay his family $3,500 at the beginning of every month, in perpetuity.…

A:

Q: On a girl's 10th birthday, her father started to deposit P5,000 quarterly at the end of each term in…

A: We can solve this using future value formula

Q: arge and Tom Martin bought a new car for $126,500. They agreed to pay 25% down and make onthly…

A: Given Borrowed amount=126500*(1-0.25)=94875

Q: Leo needs $30,000 to cover

A:

Q: Steven Nolte owes his parents $47,000 for his college education. Find the required monthly payment…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Q9. On a $45,000 4-year loan, how much less is the monthly payment if the loan is @8.4% compounded…

A: image is attached

Q: Jason started to deposit P20,000 quarterly in a fund that pays 2% compounded quarterly. How much…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

Q: Beth has a $12 000 student loan that she needs to repay. Payments are made monthly for the next 2…

A:

Q: Francine currently has $45,000 in her 401k account at work, and plans to contribute $3,000 each year…

A: We need to find total amount accumulated.

Q: Casey received a loan of $27,000 from the bank at 4.50% compounded monthly. If he had to repay $250…

A:

Q: Lynn Ally, owner of a local subway shop, loaned 62,000 to Pete hall to help him open a subway…

A: Given that Lynn Ally, owner of a local subway shop, loaned 62,000 to Pete hall to help him open a…

Q: Erin would like to buy a $350,000 apartment when she retires in 10 years. How much should she…

A:

Q: Dawson is saving for a down payment to buy a house. The account earns 2.5% interest compounded…

A:

Q: Elysa bought a car priced at $8942 for 12% down and equal semi-annual payments for 4 years. If…

A:

Q: Ken is paying off a loan by making a $50 down payment and then $50 payments at the end of every…

A:

Q: Melissa agrees to contribute $500 to the alumni fund at the end of each year for the next 4 years.…

A:

Q: Jasica Parker would like to have $46,000 to buy a new car in 7 years. To accumulate $46,000 in 7…

A: Given that, A=$46,000, t=7 years, n=12, r=3%=0.03 We have to find, how much she must invest monthly…

Q: Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8%…

A: Here we will use the recurring deposit formula for calculating the compound interest. Sum of the…

Q: Karen borrowed $2000. How much will she pay back in 1 year if she is charged 2% a year, compounded…

A: Principal money=$2000=P time(t)=1year rate of interest(r)=2% to find amount=? when compounded…

Q: Bree has accumulated $151,578.48 in her retirement savings plan. She wants to purchase an annuity…

A: Given that, Bree has accumulated $151578.48 in her retirement savings plan. She wants to purchase an…

Q: Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8%…

A:

Q: Jasica Parker would like to have $26,000 to buy a new car in 7 years. To accumulate $26,000 in 7…

A:

Q: What is the total interest paid on a 30 year mortgage for $235,000 if it is charged 7% interest,…

A: