Your fixed expenses are $1,328.90/month and you saved 4 months' worth in an emergency fund. You place half in a 45-day CD at a 4.5% APR and the remainder in a regular savings account at a 3.2% APR. How much total interest do you earn in 45 days?
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- Your fixed expenses are $1,151.65/month. You saved 4 months' worth in an emergency fund, investing 25% in a savings account at a 3.3% APR and the rest in a 60-day CD at a 4.3% APR. How much total interest accrues over 60 days?Assume that you want to have $ 4100 saved in a sinking fund in 1 year. The account pays 3% compounded monthly. What should be your monthly payments? Monthly Payment =Assume you want to have $4050 saved in a sinking fund in 1 year. The account pays 3.5% compounded monthly. What should be your monthly payments?
- Our clients saved $2,500,000 for retirement. They wish to withdraw $20,000 from the fund each month for expenses. How long will their retirement savings last if the fund is earning 9% APR compounded monthly?Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments are $987 per month, and the total finance charge is $9,432. After 25 months, you decide to pay off the loan. After calculating the finance charge rebate, find your loan payoff (in $).Total expenses for a year at college will be $9,000. You plan to pay $2,600 from your savings and finance the rest at a 5% simple interest. If you make 12 equal payments in one year, how much is each?
- Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments are $987 per month, and the total finance charge is $9,432. After 25 months, you decide to pay off the loan. After calculating the finance charge rebate, find your loan payoff (in $). (Round your answer to the nearest cent.) $Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments are $985 per month, and the total finance charge is $9,360. After 25 months, you decide to pay off the loan. After calculating the finance charge rebate, find your loan payoff (in $) Round to the nearest centYou have decided to put $130 in a savings account at the end of each month. The savings account credits interest monthly, at the annual rate of 6%. How much money is in your account after 6 years?
- You have a $22,000 credit card balance with an APR of 16.9%, compounded monthly, and you can afford to pay $400 per month to pay down your credit card. How long in months would it take you to pay off this balance?You go to the loan fund of the company where you work and find that they have an emergency fund whose regulations establish that the credits will be paid in monthly installments for 12 months, and that the installments 3,6,9 and 12 will be double the others. Likewise, the interest is 3 % per month. The amount that they will lend depends on the installment. a) If you are loaned $500,000, what will the normal payments be? b) If your regular payments are $10,000, what would be the value of the loan?Suppose you purchase a set of living room furniture for $1,300. You pay 10% down and sign a contract to repay the balance in 10 equal monthly payments. The finance charge on the balance is 7% simple interest. Estimate the annual percentage rate (APR) to the nearest tenth of a percent.