Tema
Q:
Find the final monthly payment
required to pay off a loan with \( \$ 1,30 \)
remaining principal and a \( 9 \% \) annual
interest rate.
\[ \$[?] \]
Round to the nearest cent.
Q:
Find the final monthly payment
required to pay off a loan with \( \$ 900 \)
remaining principal and a \( 12 \% \) annual
interest rate.
\[ \$[?] \]
Round to the nearest cent.
Q:
Find the final monthly payment
required to pay off a loan with \( \$ 800 \)
remaining principal and a \( 12 \% \) annual
interest rate.
\[ \$[?] \]
Round to the nearest cent.
Q:
Emma has an outstanding balance of \( \$ 2690 \) on her credit card at the beginning of December. The interest
rate charged on the credit card is \( 18 \% \) p.a.
(a) Calculate the interest that Emma would be charged on the card for the month of December if she made
no further repayments.
(b) In December Emma repays \( \$ 760 \) and makes purchases of \( \$ 1185 \). Calculate the outstanding balance on
Emma's credit card at the end of December.
Q:
How much would you need to deposit in an account now in order to have \( \$ 2000 \) in the account in 10 years?
Assume the account earns \( 7 \% \) interest compounded monthly.
Q:
A 32 -year old woman has \( \$ 331,095.00 \) in an IRA account. Due to medical concerns of a family member, she
decided to make no additional contributions to the account but expect it to grow at \( 5.5 \% \) compounded
semi-annual. How much does she expect to have in the account when she retires at age 67 ?
The IRA should be worth \( \$ \square \). Round to 2 decimal places.)
Q:
Question 4 ( 2 marks)
If \( \$ 16716 \) of simple interest was earned in 7 years, find how much interest was earned:
(a) Each year
(b) Each month
Question 5 marl
Q:
Question 4 ( 2 marks)
If \( \$ 16716 \) of simple interest was earned in 7 years, find how much interest was earned:
(a) Each year
(b) Each month
Question 5 marl
Q:
\( \$ 10,000 \) is invested for 5 years at an annual simple interest rate of \( 14 \% \),
Round each answer to the nearest cent, Do not type the dollar symbol; It is provided for you,
a) The interest earned, \( I \), is \( \$ \).
b) The maturity value, \( M V \), is \( \$ \)
Q:
Yaritza invests money in an account paying a simple interest of \( 8 \% \) per year. If no money will be
added or removed from the investment, what should she multiply her current balance by to find
her total balance in a year in one step?
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