Question: i have only 1 attempt please need correct answers. i would really appreciate if u will help to solve this. thank you a) Cathy placed
i have only 1 attempt please need correct answers. i would really appreciate if u will help to solve this. thank youa) Cathy placed $6000 into a savings account. For how long can 5900 be withdrawn from the account at the end of every month starting one month from now if interest is 4.61% compounded monthly? The 5900 can be withdrawn for months. (Round down to the nearest month.) b) A $5000 bond that pays 8% semi-annually is redeemable at par in 20 years. Calculate the purchase price if it is sold to yield 7% compounded semi-annually (Purchase price of a bond is equal to the present value of the redemption price plus the present value of the interest payments). The purchase price is (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) c) Theresa borrowed $3613.00 compounded monthly to help finance her education. She contracted to repay the loan in monthly payments of $282.00 each. If the payments are due at the end of each month and interest is 6% compounded monthly, how long will Theresa have to make monthly payments? State your answer in years and months (from 0 to 11 months). Theresa will have to make payments for year(s) and month(s) d) Pearson sets up a fund to pay $1000 at the end of each month for 9.5 years. Interest on the fund is 3.9% compounded monthly (a) How much money must be deposited into the fund? (b) How much will be paid out of the fund? () How much interest is earned by the fund? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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