college maths
posted by mannat
A property worth $15,000.00 is purchased for 10% down and semiannual payments of $1750.00 for twelve years. What is the effective rate of interest if interest is compounded semiannually?

nana
You have $75 to spend on refreshments for a party. Large bags of chips cost $2.50 and sodas cost $0.50. You need to buy exactly five times as many sodas as bags of chips. How many bags of chips and how many sodas can you buy?
Respond to this Question
Similar Questions

Compound Interest : Future Value and Present Value
Payments of $1800 and $2400 weere made on a $10,000 variablerate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semiannually for the first two years and 10.74% compounded monthly thereafter. … 
Compound Interest
Payments of $1,800 and $2,400 were made on a $10,000 variablerate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semiannually for the first two years and 10.74% compounded monthy thereafter. … 
compund interest
Payments of $1800 and $2400 weere made on a $10,000 variablerate loan 18 and 30 months after the date of the loan. The interest rate was 11.5% compounded semiannually for the first two years and 10.74% compounded monthly thereafter. … 
Mathematics
Construct a schedule for the amortization of: (a) a debt of $15,000,000 with interest at 12% by 5 equal annual payments. (b) a debt of $25,000,000 with interest at 12.5% compounded semiannually by making 6 equal semiannual payments. 
Mathematics
Construct a schedule for the amortization of: (a) a debt of $15,000,000 with interest at 12% by 5 equal annual payments. (b) a debt of $25,000,000 with interest at 12.5% compounded semiannually by making 6 equal semiannual payments. 
Finance
An investment pays 9 percent interest compounded semiannually. What is the effective annual interest rate? 
Business Mathematics
Jungle Jim owes three debts: $500 due in one year plus interest at 6% semiannually, $2000 due in two years, $1000 due in three years plus interest at 5% compounded monthly. He wishes to discharge these debts by paying $500 now and … 
Math
A 20 year loan requires semiannual payments of $1333.28 including interest at 10.75% compounded semi annually. what is the original amount of the loan and what will be the balance of the loan 8.5 years later (just after the scheduled … 
math
Jungle Jim owes three debts: $500 due in one year plus interest at 6% compounded semiannually, $2000 due in two years, $1000 due in three years plus interest at 5% compounded monthly. He wishes to discharge these debts by paying $500 … 
Financial Math
An investment of $2500 accumulates at 6% p.a compounded semi annually for 3 years. At that time, the interest rate is changed to 5% compounded monthly. How much is the investment worth 2 years after the change in interest rate?