Basic Math question and answers for December 31, 2023
- Q If you want to earn $725.00 of simple interest at a rate of 7% in a span of 10 months, how much money must you invest?(Round your answer to two...
- Q If you want to earn $700.00 of simple interest at a rate of 6% in a span of 9 months, how much money must you invest?(Round your answer to two...
- Q How long will it take $7,250.00 to become $12,250.00 at 8.25% compounded weekly?
- Q Two years after opening an account that paid simple interest of 5.55% annually, a depositor withdrew the $1,332 in interest eamed. How much money was left in the account?
- Q Justice just retired, and has $790,000 to invest. A very safe Certificate of Deposit (CD) account pays 2.5%, while a riskier bond fund pays 5.5% in interest. Justice figures he...
- Q Nikola just turned 42 years old and is planning to retire at age 61. She has already saved $201,000.00 in her RRSP. If she continues to contribute $500.00 at the...
- Q On July 1 Jacob deposited $2540 in a savings account at Association. At the end of December, his intrest was computed at an annual rate of 9%. Calculate his bank...
- Q A $960 investment is compounded annually at a rate of 3% each year. How long willit take for the investment to double? Add an attachment to show your work. Roundvalues...
- Q Sutton deposited $12, 500 into an account paying 3.91% annual interest compounded monthly. How much money will be in the account after 7 years? (also called Future value).Round to the...
- Q Michael wants to purchase a Jeep. The purchase price of the Jeep is $37,000. The dealership will allow him to pay cash or finance the Jeep with a down payment...
- Q The Stationery Company purchased merchandise on account from a supplier for $11,600, terms 2/10, n/30. The Stationery Company returned merchandise with an invoice amount of $1,400 and received full credit....
- Q starting 1 year from today, you will get 20 annual payments of $1,000,000. But to get your money today you make a deal stating that you will get all of...
- Q Richard invests $120.72 every month into his 401k. At the end of 30 years, he has a balance of $184,643.4. How much interest did he earn over 30 years?Round each...
- Q A 40-year-old man in the U.S. has a 0.242% risk of dying during the next year. An insurance company charges $250 per year for a life-insurance policy that pays a...
- Q A man with $20,000 to invest decides to diversify his investments by placing $10,000 in an account that earns 8.2% compounded continuously and $10,000 in an account that earns 9.4%...
- Q For the following questions, use the compound interest formula, A(t) = P(1 + r)^ntAfter a certain number of years, the value of an investment account is represented by the expression...
- Q A 2022 Toyota 4Runner costs $52,420. Assume the car depreciates a total of 24%during its first 5 years.(A) What is the value of the car after 5 years?(B) Suppose the...
- Q You hold a 16 year bond that is callable in 6 years. The call premium is one semi-annual coupon payment, and the coupon rate is0.08. The current YTM is 0.065....
- Q Considering the following:10 year, semi-annual bond, 0.08 YTM, 1096 current price. Par is 1000What should the coupon rate be for this bond?0.09410.08560.08910.09900.0810
- Q You hold an annual coupon bond for 1 year, receiving the 0.1 coupon before selling. When bough it had 9 years to maturity, and the YTM was 0.04. Over the...
- Q You examine a pension obligation for your company and would like to immunize it from interest rate movements. This obligation has a duration of 14.19 years, and if you only...
- Q Considering the following: 6 year, semi-annual bond, 0.12 coupon, 966 current price. Par is 1000 What is the current yield?0.12420.1379 0.11810.1313 0.1410
- Q If an investment can earn 4% compounded monthly, what amount must you invest now in order to accumulate $12,000 after 3 1/2 years? $12,173.85 $13,912.97 $17,391.21 $10,434.73 $15,652.09 None of...
- Q 10. The manager of the bank where you work tells you that your bank has $10 million in excess reserves. She also tells you that the bank has $400 million...
- Q John buys good X, and would be willing to pay more than he now has to pay. Suppose that John has a change in his tastes such that he values...
- Q Solve the following problem.PV = $23,230; n = 106; i = 0.01; PMT= ?;PMT=S (Round to two decimal places.)
- Q The prepaid insurance account had a beginning balance of $4,120 and was debited for $1,980 of premiums paid during the year.Journalize the adjusting entry required at the end of the...
- Q Assume that you borrow 2 million USD from some bank under the system of 6% yearly compound interest and repay 150,000 USD every year. So, you will pay off at...
- Q Effect of Errors on Adjusted Trial BalanceFor each of the following errors, considered individually, indicate whether the error would cause the adjusted trial balance totals to be unequal. If the...
- Q Adjustment for Unearned RevenueOn June 1, 20Y2, Herbal Co. received $40,700 for the rent of land for 12 months.Journalize the adjusting entry required for unearned rent on December 31, 20Y2....
- Q John takes out a loan for $8000 at 9% interest compounded monthly and is making payments of $84 a month. Calculate his remaining balance after 30 months. John's balance due...
- Q You deposit $400 each month into an account earning 6% interest compounded monthly.a) How much will you have in the account in 15 years?$b) How much total money will you...
- Q John makes an investment of $10,800 into an account that pays interest compounded annually. In addition, he makes a yearly deposit of $110. At the end of 3 years, his...
- Q You want to be able to withdraw $20,000 from your account each year for 30 years after you retire.You expect to retire in 20 years.If your account earns 8% interest,...
- Q You want to take out a $319,000 mortgage (home loan). The interest rate on the loan is 5%, and the loan is forN30 years. Your monthly payments are $1,712.46.How much...
- Q Determine the amount of markup, the amount of overhead, the profit or loss realized on thesale, the rate of markup based on cost, and the rate of markup based on...
- Q Considering the following:7 year, semiannual bond, 0.095 coupon, 1020 current price. Par is 1000What is the YTM?0.10120.10560.09110.11150.0951
- Q Suppose you want to have $700,000 for retirement in 20 years. Your account earns 5% interest. Round your answers to the nearest cent.a) How much would you need to deposit...
- Q You deposit $100 each month into an account earning 5% interest compounded monthly.a) How much will you have in the account in 15 years? Round to the nearest cent as...
- Q You deposit $975 in an account that pays 5% annual interest compounded continuously.After 6 years, the balance is $
- Q A married couple has a combined income of $50,000. Using standard Fannie Mae/Freddie Mac guidelines, how much will be allowed for their total debt obligations each month?A) $1,500B) $1,800C) $1,400D)...
- Q You want to buy a $240,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan at 5.75% interest for the rest.a) How...
- Q You plan to purchase items for $3400 and will finance the cost with a simple interest fixed installment loan. The seller tells you that you will have to pay $115...
- Q You want to be able to withdraw $50,000 from your account each year for 25 years after you retire.You expect to retire in 20 years. If your account earns 4%...
- Q Meryl is 30 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $8,500 per year, and her...
- Q Mason just won the Utah lottery. He has the choice of $58,500,000 today or a 30-year annuity of $6,710,000, with the first payment coming one year from today.What rate of...
- Q Anne took a $778,000 mortgage. The 30-year mortgage has a 3.25% nominal annual interest rate, but it calls for monthly payments beginning one month later. (Hint: Be careful that it...
- Q If the APR (annual percentage rate) of your Citibank credit card is stated to be 19.45%, with interest paid monthly, what is the card's EFF%?21.28%22.17%20.21%19.96%
- Q Moderna Incorporation's stock has a beta of 1.69, the risk-free rate is 2.25%, and the market risk premium is 10.85%. What is the firm's required rate of return? Round your...
- Q An investment firm invested in two companies last year. They invested $8000 in Company A and made a profit of 11%. They invested $24,000 in Company B and made a...
- Q Suppose you invest $170 a month for 6 years into an account earning 7% compounded monthly. After 6 years, you leave the money, without making additional deposits, in the account...
- Q John is 25 years old and wants to have 1 million dollars in savings by the time he retires at 65. He plans to open a savings account that pays...
- Q John takes out a 3 year loan for $10100 at 6% interest compounded monthly. Calculate his monthly payme John's monthly payment will be $___________
- Q You want to take out a $172,000 mortgage (home loan). The interest rate on the loan is 4.6%, and the loan is for 30 years. Your monthly payments are $881.75.How...
- Q An invoice dated September 15, 2016, for $4,120.00 with terms 5/10, 1/30 ROG. What is theamount due if the goods are delivered (received) on December 24, 2016 and the invoice...
- Q You can afford a $300 per month car payment. You've found a 5 year loan at 5% interest. How big of a loan can you afford?
- Q You have $2,500 on a credit card that charges a 18% interest rate. If you want to pay off the credit card in 3 years, how much will you need...
- Q You want to buy a $25,000 car. You can make a 10% down payment, and will finance the balance with a 2% interest rate for 60 months (5 years). What...
- Q You want to be able to withdraw $50,000 each year for 15 years. Your account earns 7% interest.a) How much do you need in your account at the beginning?b) How...
- Q You can afford a $400 per month car payment. You've found a 5 year loan at 5% interest. How big of a loan can you afford?$
- Q You have $4,500 on a credit card that charges a 23% interest rate. If you want to pay off the credit card in 3 years, how much will you need...
- Q Jenelle bought a home for $410,000, paying 12% as a down payment, and financing the rest at 5.2% interest for 30 years. Round your answers to the nearest cent.How much...
- Q Roberto bought a $470,000 house, paying 12% down, and financing the rest at 4% interest for 30 years. His monthly payments are $1974.59. How much will he really pay for...
- Q You want to buy a $214,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan for the rest.a) How much is the...
- Q You can afford a $1000 per month mortgage payment. You've found a 30 year loan at 6% interest.a) How big of a loan can you afford? Round your answer to...
- Q John takes out a loan of $9600 that charges 8% interest compounded monthly. If John makes $120 monthly payments, determine how long it will take him to pay off the...
- Q You want to buy a car. The loan amount will be $24,000. The company is offering a 5% interest rate for 60 months (5 years). What will your monthly payments...
- Q You want to buy a $229,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan for the rest.a) How much is the...
- Q Suppose you want to have $600,000 for retirement in 20 years. Your account earns 6% interest.a) How much would you need to deposit in the account each month?$b) How much...
- Q You want to be able to withdraw $45,000 each year for 30 years. Your account earns 8% interest. How much do you need in your account at the beginning?
- Q Suppose you invest $150 a month for 8 years into an account earning 10% compounded monthly. After 8 years, you leave the money, without making additional deposits, in the account...
- Q Suppose you want to have $700,000 for retirement in 35 years. Your account earns 4% interest. How much would you need to deposit in the account each month?
- Q Suppose you invest $200 a month for 4 years into an account earning 7% compounded monthly. After 4 years, you leave the money, without making additional deposits, in the account...
- Q You deposit $300 each month into an account earning 5% interest compounded monthly.a) How much will you have in the account in 35 years? Round to the nearest cent as...
- Q Suppose you want to have $800,000 for retirement in 35 years. Your account earns 9% interest. Round your answers to the nearest cent.a) How much would you need to deposit...
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