You have researched your dream around-the-world vacation and determined that the total cost of the vacation...

         

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You have researched your dream around-the-world vacation and determined that the total cost of the vacation will be $20,000. You feel you can earn an APR of 9.5 percent compounded monthlyand plan to save $200 per month until you reach your goal. How many years will it be until you reach your goal and enjoy your well-deserved vacation? What is the future value of $3,550 per year for 26 years at an interest rate of 7.47 percent? Mo will receive aperpetuity of $25,000 per year forever, while Curly will receive the same annual payment for the next 30 years. If the interest rate is 6.9 percent, how much more are Mo's payments worth? We Pay Insurance Co. will pay you $1,425 each quarter for 26 years. You want to earn a minimum interest rate of .98 percent per quarter. What is the most you are willing to pay today for these payments? You want to purchase a new motorcycle that costs $27,000. The most you can pay each month is $480 over the life of the 78-month loan. What is the highest APR that you could afford? You want to buy a house that costs $215,000. You will make a down payment equal to 10 percent of the price of the house and finance the remainder with a loan that has an APR of 5.21 percent compounded monthly. If the loan is for 20 years, what are your monthly mortgage payments? You have just won the lottery and will receive a lump sum payment of $23.41 million after taxes. Instead of immediately spending your money, you plan to deposit all of the money into an account that will earn 5.47 percent. If you make equal annual withdrawals for the next 35 years, how much can you withdraw each year starting exactly one year from now? One of your customers has just made a purchase in the amount of $21,600. You have agreed to payments of $400 per month and will charge a monthly interest rate of 1.2 percent. How many months will it take for the account to be paid off? Bob has saved $395 each month for the last 5 years to make a down payment on a house. The account earned an interest rate of .45 percent per month. How much money is in Bob's account? You have researched your dream around-the-world vacation and determined that the total cost of the vacation will be $20,000. You feel you can earn an APR of 9.5 percent compounded monthlyand plan to save $200 per month until you reach your goal. How many years will it be until you reach your goal and enjoy your well-deserved vacation? What is the future value of $3,550 per year for 26 years at an interest rate of 7.47 percent? Mo will receive aperpetuity of $25,000 per year forever, while Curly will receive the same annual payment for the next 30 years. If the interest rate is 6.9 percent, how much more are Mo's payments worth? We Pay Insurance Co. will pay you $1,425 each quarter for 26 years. You want to earn a minimum interest rate of .98 percent per quarter. What is the most you are willing to pay today for these payments? You want to purchase a new motorcycle that costs $27,000. The most you can pay each month is $480 over the life of the 78-month loan. What is the highest APR that you could afford? You want to buy a house that costs $215,000. You will make a down payment equal to 10 percent of the price of the house and finance the remainder with a loan that has an APR of 5.21 percent compounded monthly. If the loan is for 20 years, what are your monthly mortgage payments? You have just won the lottery and will receive a lump sum payment of $23.41 million after taxes. Instead of immediately spending your money, you plan to deposit all of the money into an account that will earn 5.47 percent. If you make equal annual withdrawals for the next 35 years, how much can you withdraw each year starting exactly one year from now? One of your customers has just made a purchase in the amount of $21,600. You have agreed to payments of $400 per month and will charge a monthly interest rate of 1.2 percent. How many months will it take for the account to be paid off? Bob has saved $395 each month for the last 5 years to make a down payment on a house. The account earned an interest rate of .45 percent per month. How much money is in Bob's account?

Answer rating: 100% (QA)

1FVA1RNNT FV value after t periods20000 A principal amount initial investment200 r annual interest r... View the full answer