Question: please answer these. thank you! :) Question 8 (1.5 points) Micheal wants to have $49,000 in 12 years on a savings plan that requires monthly
please answer these. thank you! :)
Question 8 (1.5 points) Micheal wants to have $49,000 in 12 years on a savings plan that requires monthly contributions. If he can earn 8 percent APR with monthly compounding on the savings plan, what is the amount that he will have to invest every month for the next 12 years? Round it to two decimal places and do not include the $ sign, e.g., 1234.56. Your Answer: Answer Question 9 (1 point) South Penn Trucking is financing a new truck with a loan of $10,000 to be repaid in 5 annual end-of-year installments of $2,504.56. What annual interest rate is the company paying? 07% 8% 9% 10% 11%
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
