31. What is the income that can be received over 15 years from $500,000 earning 6%...

 

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31. What is the income that can be received over 15 years from $500,000 earning 6% annually? 32. What is the semiannual payment required to retire $50,000 in debt over 5 years at 8% compounded semiannually? 33. What is the income that can be received quarterly over 10 years from $250,000 earning 12% compounded quarterly? 34. What is the monthly payment required to pay off a car loan of $45,000 over 3 years at 6% compounded monthly? 35. Alex, age 16, is buying his dream car, a four-wheel drive, fully loaded Hummer. The cost of the car is $50,000 and Alex is putting down $10,000. What are his monthly payments if he finances the car over 5 years at 8%? 31. What is the income that can be received over 15 years from $500,000 earning 6% annually? 32. What is the semiannual payment required to retire $50,000 in debt over 5 years at 8% compounded semiannually? 33. What is the income that can be received quarterly over 10 years from $250,000 earning 12% compounded quarterly? 34. What is the monthly payment required to pay off a car loan of $45,000 over 3 years at 6% compounded monthly? 35. Alex, age 16, is buying his dream car, a four-wheel drive, fully loaded Hummer. The cost of the car is $50,000 and Alex is putting down $10,000. What are his monthly payments if he finances the car over 5 years at 8%?

Answer rating: 100% (QA)

To calculate the income that can be received over a certain period we can use the formula for the pr... View the full answer