The Weidmans want to save $45,000 in 4 years for a down payment on a house. If they make monthly deposits in an account paying 12%, compounded monthly, what is the size of the payments that are required to meet their goal? (Round your answer to the nearest cent.) $

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A: Given : Amount to be raised = A = $70,000 Interest Rate = 0.03 Time period = 5 years n = compounding…

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Q: The Weidmans want to save $25,000 in 2 years for a down payment on a house. If they make monthly…

A: Amount required in 2 years (Future value) =$25,000Time in months (n) = 2*12=24Interest rate is 12%…

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Q: A business must raise $60,000 in 7 years. What should be the size of the owners' quarterly payment…

A: NOTE: Refresh your page if you can't see any equations. . here we have FV=60000 t=7 years r=4%=0.04…

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Q: The Weidmans want to save $35,000 in 3 years for a down payment on a house. If they make monthly…

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Q: A couple purchasing a home budget $1500 per month for their loan payment. If they have $18,000…

A: Part (a):   According to the given information:   The monthly payment = $1500   Loan period = 25…

Q: The Jones want to save $51,000.00 in 2 years for a down payment on a house. If they make monthly…

A: FV=PMT1+rnnt-1rn FV=51000 t=2 years r=3%=0.03 n=12 for a monthly payment

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Q: The Weidmans want to save $35,000 in 2 years for a down payment on a house. If they make monthly…

A: Weidmans want to save $35,000 in 2 years  Let's assume, The monthly deposit = x  The account paying…

Q: The Weidmans want to save $50,000 in 2 years for a down payment on a house. If they make monthly…

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Q: The Weidmans want to save $20,000 in 2 years for a down payment on a house. If they make monthly…

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Q: A business must raise $50,000 in 8 years. What should be the size of the owners' quarterly payment…

A: Consider the provided question, given that, Amount (A) = $50,000 time(t) = 8 years rate of interest…

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A: The compound interest formula is A=P1+r100n, where A is the amount, P is the principal, r is the…

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A: Given that  future value 80000 Time period 5 years  Interest rate 3%  To find the present value

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A: Given The periodic payment (R) $200 per month. Periodic interest rate (r) is 8% per year. Periods…

Q: A business must raise $80,000 in 8 years. What should be the size of the owners' quarterly payment…

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Q: The Weidmans want to save $40,000 in 3 years for a down payment on a house. If they make monthly…

A: Given data  D = 40,000 r = 0.12 N = 12 x 3 = 36  We want to make monthly deposit to generate a…

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Q: A business must raise $90,000 in 6 years. What should be the size of the owners' quarterly payment…

A: According to the given information, Amount expected in future = $90000 There are four quarters in a…

Q: A man buys a car for $33,000. If the interest rate on the loan is 12%, compounded monthly, and if he…

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Q: Andrea wishes to accumulate a retirement fund of $650,000. How much should she deposit each month…

A: given that , final amount= A= 650000 interest rate=r= 5.5%= 0.055 number of times compounded in a…

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Q: To help pay for Arthur's estimated $33,000 in college expenses, Ryann and Austin make a deposit into…

A: Let, Ptincipal(P)= Semi-annual deposit (R)= x Given, Amount (A)=$ 33000 Rate of interest (i)= 8%…

Q: A couple purchasing a home budget $1,400 per month for their loan payment. If they have $17,000…

A: (a) Given: A couple purchasing a home budget $1,400 per month for their loan payment. If they have…

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Q: A business must raise $90,000 in 5 years. What should be the size of the owners' quarterly payment…

A: givenAmount (A)=$90,000number of years(n)=5 yearsrate (R)=3%size of the owner's quartely paayment…

Q: Suppose you make a down payment of 20% of $27,600 and finance the rest at 1.5% compounded monthly…

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Q: The winner of a "million dollar" lottery is to receive $70,000 plus $70,000 at the end of each year…

A: Use formula of compound interest to calculate future value

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