You have 1 account: The balance owed is $405 and a $1500 credit limit. What is your debt-to-credit ratio? Enter your number as a percent and do not include the percent sign.
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You have 1 account:
The balance owed is $405 and a $1500 credit limit.
What is your debt-to-credit ratio?
Enter your number as a percent and do not include the percent sign.
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Solved in 3 steps
- You plan to purchase an $130,000 house using a 30-year mortgage obtained from your local bank. The mortgage rate offered to you is 4.75 percent. You will make a down payment of 10 percent of the purchase price. Calculate your monthly payments on this mortgage.You take out a loan of $12,000 to pay for a piece of equipment. You plan to repay the loan in 16 years. You can afford to pay a maximum of $1,100 each year. What interest rate would allow for you to pay off the entirely of the loan in equal payments?You have 2 accounts: Account A has a $700 balance and a $1000 credit limit. Account B has a $150 balance and a $500 credit limit. What are your debt-to-credit ratio? Enter your number as a percent and round to 1 decimal place
- How much do you need to save each year for 30 years in order to have $775,000, assuming you are investing the money in an account that earns 8%? How much of the $750,000 comes from principal (your out of pocket costs)?Greg wants to have $50 000 in five years. He has $20 000 today to invest. The bank is offering five-year investment certificates that pay interest compounded quarterly. What is the minimum nominal interest rate he would have to receive to reach his goal?Define interest and explain how interest rates vary based on risk, maturity, loan size, and taxability.
- Your financial adviser recommends buying a 10-year bond with a face value of $1,000 and an annual coupon of $55. The current interest rate is 6 percent. What might you expect to pay for the bond (aside from brokerage fees)? Instructions: Enter your response rounded to the nearest whole number. Round intermediate calculations to two decimal places. $.If the interest rate is zero, then $100 to be paid in10 years has a present value that isa. less than $100.b. exactly $100.c. more than $100.d. indeterminateWrite the Summary of Compound-Interest Formulas?
- If you deposit $4,800 at the end of each of the next 15 years into an account paying 11.3 percent interest, how much money will you have in the account in 15 years? How much will you have if you make deposits for 30 years?Suppose a bond with no expiration date has a face value of $10,000 and annually pays a fixed amount of interest of $750, calculate the interest rate that the bond would yield to a bond buyer. Show all works Solve economichazel borrowed 100,000 and must repay a total of 130,000 exactly two years later. How much is the interest paid? what is the interest rate?