What is the cash price of a car, which can be paid off in 4 years,...
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What is the cash price of a car, which can be paid off in 4 years, if the monthly payments are $450 at 12% compounded monthly? 12. Jimmy won $ 100 000 on a lottery and, after applying a significant amount of willpower to restrain his wild shopping spree impulses, decided to invest the money in an annuity that would provide a monthly income. If the money earned 6% per year compounded monthly, how much would he get each month for 20 years? 13. It costs $150 per month for 10 months to buy a Blue-ray, Bluetooth, iPod and MP3 compatible A-V system. If the interest rate is 18% per year compounded monthly, what would the system cost if you paid cash? 14. How much would you need to deposit every six months in order to have $5000 in 3.5 years, if the interest is 7% per annum, compounded semi-annually? 16. A company is selling computer systems, including a printer, scanner and software, for $3000. The cost is financed at a rate of 10% per annum, compounded monthly for 2 years. What is the monthly payment? 17. A lottery to raise funds for a hospital is advertising a $ 160 000 prize. The winner will receive $2000 every 3 months for 20 years. If the interest rate is 12% per annum compounded quarterly, how much must be invested now in order to have the money to pay the prize? 18. Alyson received an insurance settlement of $80000, which she invested at 7.5% per annum, compounded semi-annually. How much can she receive every six months for 10 years? pounded monthly? 1. How much will you have in a bank account in 4 years, if you deposit $100 every month and the money earns 12% compounded monthly? 2. If you need to have $10 000 in 5 years to buy a car, how much do you need to deposit each month into an account which pays 6% interest compounded monthly? nord 13. It cos per month months to but e-ray 3. Larry is 18 years old. If he wants to have $ 1 000 000 by the time he is 65, how much does he need to deposit each year into an account that pays 4.5% per year? 4. If Chuck saves $100 of his monthly paycheck, six months how much will he have in 7 years, if the if the money earns 9% per year compounded monthly? 5. How much do you need to save each year in order to have $12 500 in 5 years, if the money earns 5.75% per year? how much will he have? 6. Jane receives an inheritance of $25 000. She invests the money at 6% per year compounded quarterly. If she decides to have an income every 3 months for 10 years, how much will each payment be? at a rate of 10% per amum, compounded monthly for 2 years. 7. How much will the monthly payment be on a car which has a cash price of $9000, if the loan costs 1% per month for 3 years? to raise funds for a hospital is adv 8. How much do you need to invest now to provide yourself with a yearly income of $ 11 000 for 20 years, if the money will earn 4.25% annually? quarterly, how much must be invested now 9. What will the monthly payment be on a loan of $1500, if you pay it back in 2 years at 0.5% interest per month? Insumace settlemhof 380 10. What amount of money do you need to deposit now in order annually to provide an annual income of $14 875 per year for 10 years, if the money earns 7.6% per year? What is the cash price of a car, which can be paid off in 4 years, if the monthly payments are $450 at 12% compounded monthly? 12. Jimmy won $ 100 000 on a lottery and, after applying a significant amount of willpower to restrain his wild shopping spree impulses, decided to invest the money in an annuity that would provide a monthly income. If the money earned 6% per year compounded monthly, how much would he get each month for 20 years? 13. It costs $150 per month for 10 months to buy a Blue-ray, Bluetooth, iPod and MP3 compatible A-V system. If the interest rate is 18% per year compounded monthly, what would the system cost if you paid cash? 14. How much would you need to deposit every six months in order to have $5000 in 3.5 years, if the interest is 7% per annum, compounded semi-annually? 16. A company is selling computer systems, including a printer, scanner and software, for $3000. The cost is financed at a rate of 10% per annum, compounded monthly for 2 years. What is the monthly payment? 17. A lottery to raise funds for a hospital is advertising a $ 160 000 prize. The winner will receive $2000 every 3 months for 20 years. If the interest rate is 12% per annum compounded quarterly, how much must be invested now in order to have the money to pay the prize? 18. Alyson received an insurance settlement of $80000, which she invested at 7.5% per annum, compounded semi-annually. How much can she receive every six months for 10 years? pounded monthly? 1. How much will you have in a bank account in 4 years, if you deposit $100 every month and the money earns 12% compounded monthly? 2. If you need to have $10 000 in 5 years to buy a car, how much do you need to deposit each month into an account which pays 6% interest compounded monthly? nord 13. It cos per month months to but e-ray 3. Larry is 18 years old. If he wants to have $ 1 000 000 by the time he is 65, how much does he need to deposit each year into an account that pays 4.5% per year? 4. If Chuck saves $100 of his monthly paycheck, six months how much will he have in 7 years, if the if the money earns 9% per year compounded monthly? 5. How much do you need to save each year in order to have $12 500 in 5 years, if the money earns 5.75% per year? how much will he have? 6. Jane receives an inheritance of $25 000. She invests the money at 6% per year compounded quarterly. If she decides to have an income every 3 months for 10 years, how much will each payment be? at a rate of 10% per amum, compounded monthly for 2 years. 7. How much will the monthly payment be on a car which has a cash price of $9000, if the loan costs 1% per month for 3 years? to raise funds for a hospital is adv 8. How much do you need to invest now to provide yourself with a yearly income of $ 11 000 for 20 years, if the money will earn 4.25% annually? quarterly, how much must be invested now 9. What will the monthly payment be on a loan of $1500, if you pay it back in 2 years at 0.5% interest per month? Insumace settlemhof 380 10. What amount of money do you need to deposit now in order annually to provide an annual income of $14 875 per year for 10 years, if the money earns 7.6% per year?
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Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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