what is Ben's total monthly payment?

Q: Karen owns a rental house in Ruston. Her policy requires the renter to make an initial deposit equal…

A: According to the information, the initial deposit is made on February 1, 2018 post which payments…

Q: Delilah is paying $0.40 per $100 on her $210,000 home in homeowners' insurance annually. If her…

A: A mortgage is a type of loan that is taken for the purchase of a home or any other real estate…

Q: Adam purchases a retirement annuity that will pay him $1,500 at the end of every six months for the…

A: Semi Annual Payment  $              1,500.00 Time Period (years) 8 Interest rate 4% Monthly…

Q: Andrea is depositing P4, 000 each month in an ordinary annuity that pays 2% interest compounded…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: An investor deposits $100 into his credit union account that pays interest at the rate of 3.25% per…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: Frank is making quarterly contributions of $240 to his savings account which pays interest 7.5%,…

A: The time value of money is used to calculate the present values and future values of any stream of…

Q: Gary has a 15 year mortgage on his house. His monthly principal and interest payment is $1373 . His…

A: Monthly payment of principal, interest, taxes, and insurance (PITI) can be calculated by using this…

Q: Jamie is the beneficiary of P1,000,000 insurance policy. Instead of taking the money as lump sum,…

A: Given, Amount of insurance policy is P1,000,000 Term is 10 year 5% compounded annually.

Q: Ethan deposits $750 at the end of every month for 3 years and 1 months in a retirement fund at 3.86%…

A: The series of cash flows that are equal in amount and complete series is either positive or negative…

Q: Kyler deposits $225 each month into an annuity at 6.2% annual interest for 25 years . At the end of…

A: Solution:- When an amount is invested somewhere, it earns interest on it. The amount initially…

Q: Magnus wishes to have $1,500,00 when he retires in 44 years. What are the monthly payments he must…

A: Future value of annuity = P * [ (1+r)^n  - 1 ] /r  Where, Future value of annuity = 150000 n = 44 r…

Q: Tom has decided to invest $400 quarterly for 4 years in an ordinary annuity a 8%. As his financial…

A: Quaterly investment amount is $400 Time period is 4 years Interest rate is 8% To Find: Cash value…

Q: Starting on his 25th birthday, Jason makes 20 semi-annual payments of P15,000 each in a savings…

A: Compound interest refers to the interest that is calculated on a deposit or loan on the basis of an…

Q: Martin has $4,200 in doctor bills for the year. His deductible is $300. His policy pays 80% once he…

A: Martin pay including his deductible=$4,200-$300×80100+$300=$3,420

Q: Jim is buying a house for $220,000. His loan is a 15-year fixed-rate mortgage at 4%. Jim makes a 10%…

A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower…

Q: Connie deposits $2000 at the end of each year into her Individual Retirement Account IRA. It earns…

A: Annuity: a contract that provides income for a specified period of years, or for life. Future value…

Q: Jake plans to contribute $3600 at the end of each year to his IRA. If he earns a return of 8.5%…

A: Future Value Future value  is the worth of any asset or any sum of money at a future date when such…

Q: Josiah took out a 25-year loan for $215,000 at 9.6% interest, compounded monthly. If his monthly…

A: Monthly Payment is the payment that is to be paid monthly for a specific period of time to repay the…

Q: Anna purchases a retirement annuity that will pay her $2,000 at the end of every six months for the…

A: A concept through which it is studied that the current worth of money is higher than its future…

Q: Peter makes a deposit at the end of every three months into a savings account that earns interest at…

A: Annuity refers to series of equalized payments that are paid or received at start or ending of…

Q: Manuel is preparing for an income fund for his retirement. He wants to receive P 15 500 at the…

A: Let the amount to deposit now = X Monthly payout (M) = P 15500 n = 25 years = 300 months r = 10.5%…

Q: Connie deposits $2,000 at the end of each year into her Individual Retirement Account (IRA). It…

A: Annual deposit (P) = $ 2000 Interest rate (r) = 8% Number of annual deposits (n) = 20

Q: Peter makes a deposit at the end of every three months into a savings account that earns interest at…

A: Annuity means no. of finite payments which are the same in size and made in equal intervals. Person…

Q: Since the birth of his daughter, 17 years ago, Derek has deposited $150.00 at the beginning of every…

A: Here Derek is making paying at the beginning of the months, so this is annuity due. When payments…

Q: To start a new business, Eric invests $765.13 each month in an ordinary annuity paying 12% interest…

A: Computation:

Q: . Leo invested $67 250 into an annuity earning 4.4% compounded semi-annually. How much is he able to…

A: A series of fixed payments that are paid or received at an equal time interval is term as the…

Q: Jack and Jill purchase a house and finance $375,000 at 2.8% for 30 years.  Their annual insurance is…

A: Working  Particulars Amount $ Amount $ House Loan [a]   375000 Add…

Q: Alejandra has an payout annuity that pays 66% annual interest compounded monthly. This is a 2020…

A: To solve this question, firstly have to take $10,000 as the present value and by using Annuity…

Q: Amanda purchases a retirement annuity that will pay her $2,500 at the end of every six months for…

A: The term "annuity" depicts a series of cash flows with equal amounts occurring at equal time…

Q: John bought a car with cash value of P15,294 on the installment plan under the following terms:…

A: Annuity:  An annuity is the series of payments which is received or paid for a certain period of…

Q: une Watson is contributing ​$3,500 each year to a Roth IRA. The IRA earns 4.4​% per year. How much…

A: As per the time value of money, a dollar is worth more today than the same dollar in the future.…

Q: Frank buys a house at age 48 for $600,000 by making a $170,000 down payment and securing a 30-year…

A: Annuity refers to series of equalized payments that are paid or received at start or ending of…

Q: 1. Cameron designates 10% of his monthly earnings as charitable contributions. After deducting this…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Consider the following three individuals. Justafter their 15th payment:◼◼ Robert Dixon had a balance…

A: Interest on the loan is calculated on the balance of the loan for the period of time the loan is…

Q: Mrs. Santos deposits P5,500 at the end of every six months in a savings account for her daughter's…

A: Deposit = 5500 every 6 months End of month deposits Interest rate = 4% semi annual period N = 21…

Q: Tameshia deposits $5500 in her retirement account every year. If her account pays an average of 6%…

A: We get future value of depositsUse FV function in excel Type =FV and press tab key. Type 6%,  (this…

Q: Andrea, a self-employed individual, wishes to accumulate a retirement fund of $550,000. How much…

A: Computation of interest:

Q: David has been informed by his banker that he is able to pay a maximum monthly mortgage payment of…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Erica borrowed money from Charles an amount of 58,744 and promise to pay at the end of second and…

A:

Q: Wasim invests $220,000 in an annuity that earns 8.50% interest compounded quarterly. It makes…

A: An annuity is referred to lump-sum payment made by you in return for regular disbursements,…

Q: An investor deposits $100 into his credit union account that pays interest at the rate of 3.25% per…

A: Deposits= $100 Interest= 3.25% per year Period= 7 years

Q: Find the current after-tax value of Noah's account if it was set-up as   (i) a Traditional…

A: Retirement account may be defined as the account which is provided by the United States to provide…

Q: Emily purchased a bond valued at $10,000 for highway construction for $4,540. If the bond pays 7.9%…

A: A bond is a debt instrument that is issued by the organization top raise the funds from the investor…

Q: Annette has just inherited $180,000. She invests this money at a rate of return of 6.47% per year…

A: Given: Present value $180,000 Rate 6.47% Another annuity $2,851 Years 20 Compounding…

Q: Kenneth signed a fifteen-year 2.75% conventional mortgage for $385,600. What are his monthly PI…

A: Mortgage amount (PV) = $ 385,600 Interest rate = 2.75% Monthly interest rate (r) = 2.75%/12 =…

Q: Annette has just purchased a new home for $562758. She put 25% down and is paying the remainder off…

A: The present value of the loan is equal to the sum of the present values of all future monthly…