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How much will a bank deposit of $2,000 that pays 10% compound interest be worth at the end of 3 years?
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- Assume, you want to get $1,000 after 5 years. How much equal amount of money do you need to deposit in an account that earns 12% annual interest to get that money? Check you answer with interest table.b. How much would you expect to pay per month on a $20,000 auto loan if you pay the loan back for 48 month and pay 10% interest?You can afford a $800 per month mortgage payment. You've found a 30 year loan at 7% interest. a) How big of a loan can you afford? b) How much total money will you pay the loan company? c) How much of that money is interest?
- How much should you pay for a $1,000 bond with 10% coupon, annual payments, and 5 years to maturity if the interest rate is 12%?You want to buy a $32,000 car. You can finance the car for 1.5% interest for 6 years. What is your monthly payment? Assume monthly compounding. Do not enter the negative sign from your calculator (if there is one) or the dollar sign. Round to two decimal places.A set aside $500 annually in a trust fund which allows interest at 5% effective. What amount does A have to his credit just after the 15th deposit has been made?
- 1. What interest rate compounded monthly is equivalent to 10% effective rate?The compound interest on a certain sum of money for 2 years is $ 52.00 and the simple interest for the same time at the same rate is $50.00. Find the rate %. Show formula and solution.A mortgage of $175,000 is offered at 5.25% interest for 25 years a) find the monthly payment