ou have $8,800 to buy a bc he number of months:
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- You can afford monthly deposits of $160 into an account that pays 3.6% compounded monthly. How long will it be until you have $7,100 to buy a boat? Type the number of months: (Round to the next-higher month if not exact.) CYou can afford monthly deposits of $180 into an account that pays 3.6% compounded monthly. How long will it be until you $8,700 to buy a boat? Type the number of months:_____You can afford monthly deposits of $130 into an account that pays 3.0% compounded monthly. How long will it be until you have $10,700 to buy a boat?
- You can afford monthly deposit of $160 into an account that pays 4.8% compounded monthly. How long will it be until you have $12,000 to buy a boat?Suppose you lend $11,500 to a friend at an APR of 10.00%. Your friend will pay you back beginning next month with 60 monthly installments. You can reinvest the payments you receive in your money market account at an APR of 1.10%, calculated monthly. a. How much will your friend pay you each month? ______________ b. How much will you have in your account at the end of 60 months? (to nearest $___________________ c. What is your effective annual return (EAR), _._ _%?______________You deposit $320 each month into an account earning 2% interest compounded monthly. Use the TVM Solver on the TI calculator. Round to the nearest cent (two decimal places). a) How much will have accumulated in the account in 20 years? $ b) How much money will you have deposited in the account during this time? $ c) How much of the amount in the account will be interest?
- You can afford monthly deposit of $85 into an account that pays 6% compounded monthly. How long will it be until you have $3800 in the account? Round to the next higher month if not exact.You purchase a new laptop for $1200 and put it on your credit card, which charges 14.99% interest. If you pay $75 a month, how many months will it take you to pay off your credit card? Round to the nearest month.Consider a credit card with a balance of $9000 and an APR of 16.99% . In order to pay off the balance in 3 years, what monthly payment would you need to make? Round your answer to the nearest cent, if necessary.
- Consider a credit card with a balance of $7000 and an APR of 12.5%. If you want to make monthly payments in order to pay off the balance in 11 year, what is the total amount you will pay? Round your answer to the nearest cent, if necessary.How much would you need to deposit in an account each month in order to have $10,000 in the account in 8 years? Assume the account earns 4.3% interest.Round your answer to the nearest cent as needed.You expect to have the given amount in an account with the given terms. Find how much you can withdraw periodically in order to make the account last the specified amount of time. Round your answer to the nearest cent. Account balance: $600,000 Interest rate: 4.85% Frequency:monthly Time: 17 years