Question: Sam is saving up for the downpayment on a house. They will make monthly deposits of $400.00 (at the end of each period) into a
Sam is saving up for the downpayment on a house. They will make monthly deposits of $400.00 (at the end of each period) into a savings account paying 3.55% compounded daily. After 39 periods, they will change the monthly deposit amount to $1,600.00. How much money will they have in their account after 39 more periods (78 periods in total)? O a. X = $84,824.98. O b. None of the other answers is correct. O c. X = $84,574.42 O d. X = $82,555.32. O e. X = $82,799.89. Certainty : OC=1 (Unsure: 67%) OC-3 (Quite sure: > 80%) N Tamara is buying a $54,000.00 car. They will pay $5,400.00 down and then pay the remaining balance by making weekly payments for the next 3 years (at the end of each period). The interest rate is 9.45% compounded monthly. How much are the weekly payments? O a. K = $397.69. b. K = $4,964.51. Oc. K = $340.02. d. k = $357.92 e. K= $5,516.12
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
