Question 4 Skyler invests $2900 in two different accounts. The first account paid 4%, the second account paid 12% in interest. At the end of the first year he had earned $196 in interest. How much was in each account? at 4% at 12%
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Question 4 Skyler invests $2900 in two different accounts. The first account paid 4%, the second account paid 12% in interest. At the end of the first year he had earned $196 in interest. How much was in each account? at 4% at 12%
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- Sunlight Growers borrows $250,000 from a bank at a 4% annual interest rate. The loan is due in three months. At the end of the three months, the company pays the amount due in full. How much did the company remit to the bank? A. $250,000 B. $10,000 C. $252,500 D. $2,500an account pays 3.12% interest compounded biweekly. Gregory invests money into this account and after 4 years, the value has grown to $5175. a) How much did he invest? b) How much interest was earned?A2 6d Ms. Cressida bought a car for $48,000 exactly three years ago. After making an up-front equity payment of $5,000, she borrowed the rest of the car value from her bank in the form of a five-year loan. She negotiated a loan rate of 2.5% APR with semi-annual compounding. She makes loan payments of an equal dollar amount every two weeks (i.e., biweekly), and her first loan payment was due two weeks after she signed the loan contract. d. What is Cressida’s current loan balance?
- A3 Samuel made periodic deposits into a savings account at the end of every month for 2 years. The investments were earning 7.50% compounded quarterly and grew to $13,375.00 at the end of 2 years. a. Calculate the size of the month-end deposits. $542.77 $518.51 $446.40 $496.19 b. How long will it take for the $13,375.00 to accumulate to $39,295.00 if the interest rate remained the same and he continued making the same month-end deposits throughout the term? 4 years and 3 months 5 years and 3 months 3 years and 3 months 3 years and 5 monthsA2 6 e Ms. Cressida bought a car for $48,000 exactly three years ago. After making an up-front equity payment of $5,000, she borrowed the rest of the car value from her bank in the form of a five-year loan. She negotiated a loan rate of 2.5% APR with semi-annual compounding. She makes loan payments of an equal dollar amount every two weeks (i.e., biweekly), and her first loan payment was due two weeks after she signed the loan contract. e. What is the total amount of interest that Cressida would have paid to the bank after five years of loan payments?A2 6 c Ms. Cressida bought a car for $48,000 exactly three years ago. After making an up-front equity payment of $5,000, she borrowed the rest of the car value from her bank in the form of a five-year loan. She negotiated a loan rate of 2.5% APR with semi-annual compounding. She makes loan payments of an equal dollar amount every two weeks (i.e., biweekly), and her first loan payment was due two weeks after she signed the loan contract. c. What is Cressida’s biweekly loan payment?
- a. 1) How much money should be deposited into an account paying interest at a rate of 7.5% compounded quarterly so that at the end of 12 years the accumulated amount will be $28,960? 2) Jack buys a furniture set costing $23,845 and chose to finance the money through the store for 18 months. He would be charged 12% interest compounded monthly based on the unpaid balance. 3) What is his monthly installment and How much interest is paid over this period? b. 1) How much is the unpaid balance after 12 months?A2 6 a Ms. Cressida bought a car for $48,000 exactly three years ago. After making an up-front equity payment of $5,000, she borrowed the rest of the car value from her bank in the form of a five-year loan. She negotiated a loan rate of 2.5% APR with semi-annual compounding. She makes loan payments of an equal dollar amount every two weeks (i.e., biweekly), and her first loan payment was due two weeks after she signed the loan contract. a. What is the effective annual rate on Cressida’s loan?
