4. [-/1 Points] DETAILS MY NOTES SMITHPOW10 7.4.031. Calculate the monthly finance charge for the credit...
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4. [-/1 Points] DETAILS MY NOTES SMITHPOW10 7.4.031. Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. (Round your answer to the nearest cent.) Balance: $500 Rate: 17% Payment: $50 Method: Previous balance $ Need Help? Read It Submit Answer 5. [-/4 Points] DETAILS MY NOTES SMITHPOW10 7.5.003. What is n for the following compounding periods? (a) quarterly n = (b) annually n = (c) monthly n = (d) daily n = Need Help? Read It Watch It Submit Answer 6. [-/1 Points] DETAILS MY NOTES SMITHPOW10 7.5.030. Find the future value, using the future value formula and a calculator. (Round your answer to the nearest cent.) $150 at 21.25% compounded annually for 24 years $ Need Help? Read It Watch It Submit Answer 7. [-/1 Points] DETAILS MY NOTES SMITHPOW10 7.5.037. Find the future value, using the future value formula and a calculator. (Round your answer to the nearest cent.) $47.67 at 5.5% compounded daily for 5 years $ Need Help? Read It Submit Answer ASK ASK ASK 8. [-/4 Points] DETAILS MY NOTES SMITHPOW10 7.5.043. Find the cost of each item in 6 years, assuming an annual inflation rate of 4% (compounded annually). (Round your answers to the nearest cent.) (a) cup of coffee, $1.93 $ (b) Sunday paper, $1.25 $ (c) Big Mac, $2.15 $ (d) gallon of gas, $2.62 $ Need Help? Read It Watch It Submit Answer 9. [-/4 Points] DETAILS MY NOTES SMITHPOW10 7.5.046. Find the cost of each item in 24 years, assuming an annual inflation rate of 7% (compounded annually). (Round your answers to the nearest cent.) (a) TV, $625 $ (b) small car, $17,500 $ (c) car, $27,500 $ (d) tuition, $19,000 $ Need Help? Read It Watch It Submit Answer 4. [-/1 Points] DETAILS MY NOTES SMITHPOW10 7.4.031. Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. (Round your answer to the nearest cent.) Balance: $500 Rate: 17% Payment: $50 Method: Previous balance $ Need Help? Read It Submit Answer 5. [-/4 Points] DETAILS MY NOTES SMITHPOW10 7.5.003. What is n for the following compounding periods? (a) quarterly n = (b) annually n = (c) monthly n = (d) daily n = Need Help? Read It Watch It Submit Answer 6. [-/1 Points] DETAILS MY NOTES SMITHPOW10 7.5.030. Find the future value, using the future value formula and a calculator. (Round your answer to the nearest cent.) $150 at 21.25% compounded annually for 24 years $ Need Help? Read It Watch It Submit Answer 7. [-/1 Points] DETAILS MY NOTES SMITHPOW10 7.5.037. Find the future value, using the future value formula and a calculator. (Round your answer to the nearest cent.) $47.67 at 5.5% compounded daily for 5 years $ Need Help? Read It Submit Answer ASK ASK ASK 8. [-/4 Points] DETAILS MY NOTES SMITHPOW10 7.5.043. Find the cost of each item in 6 years, assuming an annual inflation rate of 4% (compounded annually). (Round your answers to the nearest cent.) (a) cup of coffee, $1.93 $ (b) Sunday paper, $1.25 $ (c) Big Mac, $2.15 $ (d) gallon of gas, $2.62 $ Need Help? Read It Watch It Submit Answer 9. [-/4 Points] DETAILS MY NOTES SMITHPOW10 7.5.046. Find the cost of each item in 24 years, assuming an annual inflation rate of 7% (compounded annually). (Round your answers to the nearest cent.) (a) TV, $625 $ (b) small car, $17,500 $ (c) car, $27,500 $ (d) tuition, $19,000 $ Need Help? Read It Watch It Submit Answer
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