Question: please answer all questions Use the savings plan formula to answer the following question. At age 35, you start saving for retirement. If your investment
please answer all questions
Use the savings plan formula to answer the following question. At age 35, you start saving for retirement. If your investment plan pays an APR of 6% and you want to have $1.4 million when you retire in 30 years, how much should you deposit monthly? You should invest $ each month. (Do not round until the final answer. Then round to two decimal places as needed.) @ Time Remaining: 01:43:59 Next Use compound interest forfluid to compute the paidnice II) each account after the stated period f time, and compute the annual percentage rate (APY): a. $20,000 is invested at an APR of 2,7% a Next question You want to purchase a new car in 4 years and expect the car to cost $73,000. Your bank offers a plan with a guaranteed APR of 4.5% if you make regular monthly deposits. How much should you deposit each month to end up with $73,000 in 4 years? You should invest $ each month. (Round the final answer to the nearest cent as needed. Round all intermediate values to seven decimal places as needed.) Inv uonsanb sm noint(s) possible Submit test Next question Consider the following loan. Complete parts (a)-(c) below. An individual borrowed $86,000 at an APR of 4%, which will be paid off with monthly payments of $454 for 25 years. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $| the annual interest rate is %, the number of payments per year is , the loan term is |years, and the payment amount is $] b. How many total payments does the loan require? What is the total amount paid over the full term of the loan? There are payments toward the loan and the total amount paid is s c. Of the total amount paid. what percentage is paid toward the principal and what percentage is paid for interest? The percentage paid toward the principal is |% and the percentage paid for interest is% (Round to the nearest tenth as needed ) S Time Remaining: 01:43 45 Next For the following loan, make a table showing the amount of each monthly payment that goes toward principal and interest for the first three months of the loan. A home mortgage of $144,000 with a fixed APR of 3% for 30 years. End of... Interest Payment Toward Principal New Principal Month 1 S tm (Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Fill out the table. 57- acc End of... Interest Payment Toward Principal New Principal inve Month 2 S S (Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places as needed. bee Fill out the table End of... Payment Toward Interest Principal New Principal Month 3 s/ S Time Remaining: 01:43:25 Next 2. Use compound interest formula to compute the balance in each account after the stated period of time, and compute the annual percentage rate (APY): a. $20,000 is invested at an APR of 2.7% ADD 24 99+