Marty McFly owns a DeLorean. His June monthly interest is $400. The rate is 8 ½%. Marty's principal balance at the beginning of June is (use 360 days)
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Marty McFly owns a DeLorean. His June monthly interest is $400. The rate is 8 ½%. Marty's principal balance at the beginning of June is (use 360 days)
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- Last month, En Bey borrowed P 25,000 at 12% interest rate. He repaid the loan in four installment payments. If he wanted to pay P 6,250 in the following three months and pay the remaining balance on the fourth month, compute the ordinary interest (with 360-day year) using unpaid-balance method.The Manny takes a 6-year car loan of $45,200 at 4.25%, compounded monthly. If the payments are done at the end of the month, compute the principal balance after the 4th year of payments.Beginning in January, a person plans to deposit $100 at the end of each month into an account earning 12% compounded monthly. Each year taxes must be paid on the interest earned during that year. Find the interest earned during each year for the first 3 years. The interest earned during the first year is ? The interest earned during the second year is ? The interest earned during the third year is ?
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- To attend school, Amaya deposits $420 at the end of every 6 months for five and one - half years. What is the accumulated value of the deposits if interest is 3% compounded quarterly?Calvin Johnson has a $5,500 debt balance on his Visa card that charges 12.2 percent APR compounded monthly. In 2009, Calvin's minimum monthly payment is 4 percent of his debt balance, which is $220. How many months (round up) will it take Calvin Johnson to pay off his credit card if he pays the current minimum payment of $220 at the end of each month? In 2010, as the result of a federal mandate, the minimum monthly payment on credit cards rose to 5 percent. If Calvin made monthly payments of $275 at the end of each month, how long would it take to pay off his credit card? Question content area bottom Part 1 a. If Calvin made monthly payments of $220 at the end of each month, how long would it take to pay off his credit card? enter your response here months (Round up to the nearest unit.)Calvin Johnson has a $4,500 debt balance on his Visa card that charges 13.3 percent APR compounded monthly. In 2009, Calvin's minimum monthly payment is 3 percent of his debt balance, which is $135. How many months (round up) will it take Calvin Johnson to pay off his credit card if he pays the current minimum payment of $135 at the end of each month? In 2010, as the result of a federal mandate, the minimum monthly payment on credit cards rose to 4 percent. If Calvin made monthly payments of $180 at the end of each month, how long would it take to pay off his credit card?
