Melissa has an offer from a credit card issuer for 0% APR for the first 60 days and 28.49% APR afterward, compounded daily. What effective interest rate is Melissa being offered?

Q: How much must you deposit today into each of the following accounts in order to have $25,000 in 8…

A: Given the amount in the account after 8 years is $25,000.Also given that the amount compounded daily…

Q: Nisha takes a loan of $45,000 at 6% per annum for 1^1/2 years. Assuming that the interest is…

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: Find the effective annual yield to the nearest hundredth of a percent for an account paying 2%…

A: For compounded monthly, n=12

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: How much must you deposit today into the following accounts in order to have $120,000 college fund…

A: We are given that the interest is compounded daily. So, it's better to calculate the daily interest…

Q: Josh deposited $4000 into an account with 4.4% interest, compounded semiannually. Assuming that no…

A: Given: P= $4000                   r=4.4% =0.044              n=2 (semiannually)               t=6…

Q: With a present value of $130,000, what is the size of the withdrawals that can be made at the end of…

A:

Q: Francine currently has $75,000 in her 401k account at work, and plans to contribute $600 at the end…

A:

Q: Lena deposited $6000 into an account with a 11% annual interest rate, compounded pemiannually.…

A:

Q: Suppose you purchase a car and you are going to finance $14,000 for 48 months at an APR of 6.6%…

A: Given:  Finance amount (P)=$14,000             Time (t)= 48 months= 4 years             Interest…

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

A:

Q: Tony Ring wants to attend Northeast College. If he deposits $59,528 today, how much will he have 5…

A:

Q: If compounded monthly, a loan will be amounting to P132, 400.00 if invested at 11.5% interest for…

A: The solution to the given question is explained below.

Q: Evaristo would like to invest N$ 12,500.00 a month at the beginning of each month at an interest…

A: To find the C.I.

Q: Given: ₱50,000 at 11% compounded quarterly for 5 years. What is the interest rate per conversion…

A: Given that: Principal amount = ₱50,000 Rate of interest = 11% = 0.11 Number of years he amount is…

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: Jasica Parker would like to have $33,000 to buy a new car in 8 years. To accumulate $33,000 in 8…

A:

Q: Kristy Joe deposits ​$110 each month in an ordinary annuity to save for a new car. If the annuity…

A: It is given that the Cash deposit per period is P = $110.Monthly interest rate is i = 1.03%. Time…

Q: find the present value of $75,000 if interest is paid at a rate 3% per year, compounded monthly for…

A: Only you have to careful what the question saying...wheather it is compounded yearly or compounded…

Q: Carter invested $16,000 in an account paying an interest rate of 5.6% compounded monthly. Assuming…

A:

Q: Your 4 year investment of $21,000 received 13.6% interest compounded quarterly. What is your total…

A: Here p0 = 21000$ R = 13.6% annually  N = 4 year

Q: Find the total amount after 10 years for the initial deposit of $30,000 with the interest rate of 5%…

A:

Q: . Find the simple interest (I = Prt) of $10,000 invested for 6 years at an annual simple interest…

A: Definition: simple interest If an amount of money,  P , the principal, is invested for a period of…

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: If 49900 dollars is invested at an interest rate of 9 percent per year, find the value of the…

A: Formula for Compound Interest A=P1+rnnt where A= Accumulated amount P= Principal r= Rate of interest…

Q: Patty Stacey deposits $2800 at the end of each of 5 years in an IRA. If she leaves the money that…

A: Her amount accures by the formular. A = P(1+r/n)^nt. Where her principal P = $2,800. Rate, r =7%…

Q: Find the present value of $100,000 if interest is paid at a rate of 8% per year, compounded monthly,…

A:

Q: With a present value of $135,000, what is the size of the withdrawals that can be made at the end of…

A:

Q: Anibal invests $4,250 at 6% loterest, compounded quarterly for 1 year. Calculate the effective…

A: Consider the given information.

Q: Find the present value of $10,000 if interest is paid at a rate of 9% per year, compounded…

A: A=P1+rnntFor compounded semiannually, n=2

Q: With a present value of $125,000, what is the size of the withdrawals that can be made at the end of…

A: The present value P = $125,000 Time t = 10 years Rate r = 7.8% compounded quarterly To find amount

Q: A deposit of $1000 is made into an account that earns interest at an annual rate of 5%. If allowed…

A: what would be the resulting total account balance if the interestcompounded monthly?

Q: If Jessie wants to receive $15,700 after 48 months, how much should he pay at the beginning of each…

A: As per the guidelines we are allowed to solve maximum of 1 question. If you need help with others…

Q: Brian invests $13,500, at 8% interest, compounded semiannually for 2 years. Manually calculate the…

A: Formula for compound interest : Here  P=13500r=8%=0.08A=?n=2t=2 years

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

A:

Q: A deposit of $550 is made in a savings account that pays an annual interest rate of 1% compounded…

A: The formula of the compound interest is, A=P1+rnnt where, A=Amount after the periodP=principal…

Q: A bank is offering a special four-year investment certificate paying 3.5% per year, compounded…

A: We can solve it by the mathod of finding compound interest.

Q: If 23200 dollars is invested at an interest rate of 7 percent per year, find the value of the…

A:

Q: How many months would it take you to repay a $ 5225 loan by making payments of $ 57 at the end of…

A: The formula for computing the number of years required to pay off a loan when payment is made at the…

Q: A credit card had an APR of 23.83% all of last year and compounded interest monthly. What was the…

A: GIVEN   APR = 23.83%   COMPOUNDED MONTHLY  MEANS  n = 12 EFFECTIVE INTEREST = ?

Q: Find the required annual interest rate, to the nearest tenth of a percent, for $5200 to grow to…

A: Consider the given information

Q: Findthe present value of $100,000 if interest is paid at a rate of %8 per year, compounded monthly,…

A: Given, Future value, FV = $100,000  Interest rate, R= 8% time, t =10 years. Compounde period…

Q: You deposit $4000 in a bank with annual interest rate of 3.5% compounded monthly. What would your…

A: Here, P=$4000, n=1, r=0.035, and t=20.

Q: What is the purchase price on a car that has a $350 monthly payment for five years, financed at 6%…

A: Given query is to find the purchase price of the car.

Q: How much should you invest into an account with 3.2% interest compounded quarterly if you want to…

A: According to the question, we have the data set: Interest rate= 3.2 % = 0.032  n= 4 (amount is…

Q: Suppose you make a single deposit of $8000. Calculate the amount of money you will have in the…

A: Solution is given below:

Q: Find the interest on P10,000 at 5 ½% for 4 years and 6 months compounded monthly.

A: Given that.   Find the interest on P10,000 at 5 %2% for 4 years and 6 months compounded monthly.…

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

A:

Statements and Logic

Logic is the analysis of general patterns of thoughts without regard to any specific sense of context.