Question: Hey, can someone help me with my math assignment involving financial literacy? StudyForge FINANCIAL LITERACY ASSIGNMENT Resources 6. Calculate the accumulated amount in each investment

Hey, can someone help me with my math assignment involving financial literacy?

Hey, can someone help me with my math assignment involving financial literacy?StudyForge FINANCIAL LITERACY ASSIGNMENT Resources 6. Calculate the accumulated amount in eachinvestment after 40 years. a. $150 invested on the first day ofeach month at 6% compounded monthly. N = NO 1% = 6PV =0 SoWe lor FV PMT =10 FV = P / Y

StudyForge FINANCIAL LITERACY ASSIGNMENT Resources 6. Calculate the accumulated amount in each investment after 40 years. a. $150 invested on the first day of each month at 6% compounded monthly. N = NO 1% = 6 PV =0 SoWe lor FV PMT =10 FV = P / Y = C /Y = 12 PMT: END (BEGIN b. $900 invested on January 1st and on July 1st at 4% compounded semi-annually. N = 1% = PV = PMT = FV = P / Y = C/Y = PMT: END BEGINFINANCIAL LITERACY ASSIGNMENT StudyForge Resources c. $450 invested on January 1st, April 1st, July 1st, and October 1st at 5% compounded quarterly. N = 1% = PV = PMT = FV = P / Y = C/Y = PMT: END BEGIN 7. Loans and Financing: a. Ken and Marcy plan to have their kitchen remodeled at a cost of $6,000. The carpenter suggests that they pay $600 down, followed by 18 monthly payments of $325. What is the finance charge for this payment schedule?StudyForge FINANCIAL LITERACY ASSIGNMENT Resources C. The Lees have purchased a new home for $360,000, and put a down payment of $50,000 on it. They have a mortgage for the balance, amortized over 20 years at 5.25% If the Lees pay off the mortgage at the end of the 20 years, how much interest will they have paid in total? N = 1% = PV = PMT = FV = P / Y = C/Y = PMT: END BEGIN d. A family has a mortgage on a home for $295,000, amortized over 25 years, at an APR of 4.5%. The monthly payment on the mortgage is $1,639.71/ If the family makes a $25,000 extra payment at the end of the 4th year of the mortgage, how much interest will they save by the end of the 25-year period of the mortgage? Hint: Assume the monthly payment is adjusted at the end of the 4th year, to keep the original amortization of 25 years. N = N = 1% = 1% = PV = PV = PMT = PMT = FV = FV = P/Y = P /Y = C/Y = C/Y = PMT: END BEGIN PMT: END BEGINFINANCIAL LITERACY ASSIGNMENT StudyForge Resources d. Huan accepted an in-store loan on a computer she just purchased. The monthly payment is $64.53 on the $2,000 computer with a 12% APR for 3 years. Determine the portion of the monthly payment that will go towards interest and principal for the first two months. 8. Mortgages: a. What is the period interest rate on a mortgage with a 4.8% APR compounded semi- annually? b. A certain family can afford a monthly mortgage payment of $1,340.00. With an APR of 5.25% per annum, what is the maximum mortgage amount they can afford if they prefer a 20-year amortization period? N = 1% = PV = PMT = FV = P /Y = C/Y = PMT: END BEGINFINANCIAL LITERACY ASSIGNMENT StudyForge Resources b. Trevor asks his bank for a loan of $22,000 to add a guest room to his house. His bank offers financing at 7.25% compounded monthly, for a term of 5 years, payable monthly. What is Trevor's monthly payment? N = 1% = PV = PMT = FV = P / Y = C/Y = PMT: END BEGIN c. Kawai requires a loan of $33,000 to buy a used sport utility vehicle. His banks offers financing at 6.75% compounded monthly, for a term of 6 years, payable monthly. What is the total cost of this loan? N = 1% = PV = PMT = V = P/Y = C/Y = PMT: END BEGIN

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