Match each question with the formula that should be used to solve it. *Semiannual payments of...

 

Transcribed Image Text:

Match each question with the formula that should be used to solve it. *Semiannual payments of $4,100 are made for 18 years to ^FV=PMT1+0=1 repay a loan at 5.2% compounded semiannually. Find the amount of the loan. You can afford monthly deposits of $240 into an account that pays 4.2% compounded monthly. How long will it be until you have $10,300 to buy a boat? A loan of $17,214 was repaid at the end of 17 months. What is the interest paid at the end of 17 months if the annual interest rate is 8.3% ? B. How long will it take $4,000 to grow to $17,000 if it is invested at 7% compounded monthly? C. How long will it take money to double if it is invested at 4% compounded continuously? E. A = Pert D. PV = PMT¹-(1+1)-n i F. A = P(1+) APY-(1+1) A=P(1+rt) G.1 = Prt H. "APY=e-1 Match each question with the formula that should be used to solve it. *Semiannual payments of $4,100 are made for 18 years to ^FV=PMT1+0=1 repay a loan at 5.2% compounded semiannually. Find the amount of the loan. You can afford monthly deposits of $240 into an account that pays 4.2% compounded monthly. How long will it be until you have $10,300 to buy a boat? A loan of $17,214 was repaid at the end of 17 months. What is the interest paid at the end of 17 months if the annual interest rate is 8.3% ? B. How long will it take $4,000 to grow to $17,000 if it is invested at 7% compounded monthly? C. How long will it take money to double if it is invested at 4% compounded continuously? E. A = Pert D. PV = PMT¹-(1+1)-n i F. A = P(1+) APY-(1+1) A=P(1+rt) G.1 = Prt H. "APY=e-1

Answer rating: 100% (QA)

A 1 2 1 Semiannual payment of 4100 3 4 2 You can afford mo... View the full answer