Basic Math question and answers for January 02, 2024
- Q Day AmountDayAmountDayAmount10 1.00165 70 1.01157 130 1.0216020 1.00329 80 1.01323 140 1.0232830 1.0049490 1.01490 150 1.0249640 1.00660 100 1.01657 160 1.0266550 1.00825 110 1.01825 170 1.0283460 1.00991 120 1.01992180 1.03002You...
- Q Ronnie has $500 he wants to put in a savings account that compounds monthly at a 1% interest rate.a) What is the initial amount?b) What is the interest rate in...
- Q Robin Smith bought a $150,000 home and applied for a 90% conventional loan at 9% with a 30 year term. The amortization factor is 8.05. 1. What is Robin's monthly...
- Q Use the given formula to answer the question. A = P(1 + rt) is used to find the principal amount P deposited, earning r% interest, for t years. Use this...
- Q Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced. Assume...
- Q You invested $5000 between two accounts paying 5% and 8% annual interest, respectively. If the total interest earned for the year was $340, how much was invested at each rate?...
- Q An investment of $41,000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned 8%...
- Q Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end...
- Q What is the interest earned if you deposit $9,500 and earn 5% interest for 9 months?$325.65$356.25365.35355.55
- Q True or False: If the unpaid balance is $2,100 and the interest rate is 10%, your final monthly payment is $2,310.TrueFalse
- Q True or False: Your finance charge is $7.32 if you have an unpaid balance of $177.23 and the annual interest rate charge is 2.1% of the unpaid balance.TrueFalse
- Q You take a 30-day single-payment loan with an interest rate of 21% on $550. What is the amount of the maturity value?$559.94$569.44$559.49$519.69
- Q What is the final monthly payment if the unpaid balance is $4,300 and the interest rate is 15%?$4,353.54$4,534.45$4,553.44$4,355.65
- Q True or False: Rounded to the nearest tenth, it would take 12.5 years for $1,250 to double if your simple interest rate is 8%.TrueFalse
- Q True or False: If the unpaid balance is $2,980 and the interest rate is 11%, your final monthly payment is $3,310.72.TrueFalse
- Q You put a $500 jacket on layaway and put down a 10% deposit. What was the deposit?
- Q You put a $300 outfit on layaway and put down 20%. What is the balance?$225$240$235$210
- Q You take a 60-day single-payment loan with an interest rate of 14% on $815. What is the amount of the maturity value?$833.76$842.33$832.77$836.67
- Q Find the periodic withdrawals PMT for the annuity given. HINT [See Example 4.] (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest...
- Q Tom and Jerry make separate investments at the same time. Tom invests $2000 at an annual interest rate of 2% compounded continuously. Jerry invests $1800 at an annual rate of...
- Q You deposit $4000 in an account earning 5% interest compounded monthly. How much will you have in the account in 15 years?
- Q Dividend of a company A's stock is expected to increase every quarter @ 0.5% and the rate of return of stock is 7% annually and stock is paying dividend of...
- Q Use I = PRT to solve.(time is in years)| = $14,400R = 8% Find P.T = 30 years
- Q Suppose you want to have $600,000 for retirement in 25 years. Your account earns 8% interest. How much would you need to deposit in the account each month?
- Q You deposit $400 each month into an account earning 2% interest compounded monthly.a) How much will you have in the account in 35 years?$b) How much total money will you...
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