Find the savings plan balance after 2 years with an APR of 9% and monthly payments of ​$200 Can someone help?

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  1. math

    Raj is deciding between two cell phone plans, A and B, which are both linear functions. The monthly charge for plan A according to the number of minutes used is shown in the table. Monthly Charge for Plan A Minutes used, x Monthly charge ($), y 0 14.45 3

  2. Math

    Find the savings plan balance after 2 years with an APR of 9​% and monthly payments of ​$250 Can someone help me? Idk if im right but do I multiply $250 by 9% an then divide?

  3. Financial

    You need a 30-year, fixed-rate mortgage to buy a new home for $235,000. Your mortgage bank will lend you the money at an APR of 5.35 percent for this 360-month loan. However, you can afford monthly payments of only $925, so you offer to pay off any

  4. MATH

    Buford pays for a $4000.00 vacation with a credit card that has a 20% APR. He decides to make $200.00 monthly payments. What is the total amount of interest and fees based on the APR?

  5. Math

    You have a balance of $15,000 for your tuition on your American Express credit card. If your APR is 21%, you make no further charges, and each month you make only the minimum payment of 3% of your balance, then the formula for the balance after t monthly

  6. Finance

    Rob and laura wish to buy a new home. The price is $187,500 and they plan to put down 20%. CIBC will lend them at a fixed rate for 25 years with monthly payments. How much will Bob and Laura's monthly payment be? Assuming they pay off this mortgage over

  7. Finance

    You take out a 30-year $100,000 mortgage loan with an APR of 6 percent and monthly payments. In 12 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan? I am working this on the assumption that your

  8. math

    If an individual saves​ $5,700 and elects to place the total dollar amount into a savings account earning​ 2.75% APR compounded​ monthly, how much will the original deposit grow to in 12​ years?

  9. Math

    1. When their child was born, Elaine and Mike Porter deposited $5,000 in a savings account. The money ears interest at 6 percent compounded quarterly. How much will the account be worth when their child celebrates her second birthday? My answer= $5,632.46

  10. Math

    Sarah secured a bank loan of $155,000 for the purchase of a house. The mortgage is to be amortized through monthly payments for a term of 15 years, with an interest rate of 3%/year compounded monthly on the unpaid balance. She plans to sell her house in 5

  11. Math

    You have a balance of $7500 on your credit card and you make no further charges. If your APR is 12.5% and each month you make only the minimum payment of 5% of your balance, then find a formula for the balance after t monthly payments. A) 7500(0.959896) t

  12. math

    a) Enter your desired amount of money you wish to receive each month while retired = $ 2000 b) Upon retirement (40 years from now) you want to receive "x dollars" (amount of money you choose in Part a) each month for a period of 28 years. This money

  13. Math

    Consider the two savings plans below. Compare the balances in each plan after 7 years. Which person deposited more money in the​ plan? Which of the two investment strategies is​ better? Yolanda deposits ​$550 per month in an account with an APR of

  14. finance

    You take out a 25-year $210,000 mortgage loan with an APR of 12% and monthly payments. In 16 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan?

  15. Math

    You want to purchase a new car in 8 years and expect the car to cost ​$21,000. Your bank offers a plan with a guaranteed APR of 5.5 % if you make regular monthly deposits. How much should you deposit each month to end up with ​$21,000 in 8 ​years?

  16. Finance

    Assume that you have a balance of $5000 on your Visa credit card and that you make no more charges. If your APR is 22% and each month you make only the minimum payment of 3% of your balance, then find a formula for the balance after t monthly payments. A.

  17. Finance

    You take out a 30-year $100,000 mortgage loan with an APR of 6 percent and monthly payments. In 12 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan?

  18. Math

    Mary B deposits $8500 into a savings account, compounded monthly at a nominal interest rate of 9 percent, as part of a savings plan that she would like to undertake in 5 years. 1) What is the effective interest rate per annum? 2) How much money would she

  19. Finance

    11. Loan Payments You wish to buy a $30,000 car. The dealer offers you a 4-year loan with a 6 percent APR. What are the monthly payments? How would the payment differ if you paid interest only? What would the consequences of such a decision be?

  20. Math

    Jennifer bought a brand new treadmill on a credit plan at BeFit Exercise Equipment. BeFit will charge her 15% per year compounded monthly. If her monthly payments will be $150 for 4 years, how much was the original price of the treadmill? a) $5,390.72 b)

  21. math - APR

    Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of $42,650 with factory and dealer rebates of $5,100 a-Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest

  22. Math

    Suppose you take out a 45​-year ​$100,000 mortgage with an APR of 6​%. You make payments for 2 years ​(24 monthly​ payments) and then consider refinancing the original loan. The new loan would have a term of 20 ​years, have an APR of 5.9​%,

  23. Amoritizing Loans

    "A woman borrows $6000 at 9% compounded monthly, which is to be amortized over 3 years in equal monthly payments. For tax purposes, she needs to known the amount of interest paid during each year of the loan. Find the interest paid during the first year,

  24. ALGEBRA

    Find the APR for the following loan (monthly payments). (Round your answer to the nearest full percent.) Purchase a refrigerator for $2,100 at 20% add-on interest for 3 years.

  25. Math Personal Finance

    A friend tells you that her savings account doubled in years. Use the Rule of 72 to estimate what the APR of her account was. APR=____%

  26. Math

    Consider the two savings plans below. Compare the balances in each plan after 7 years. Which person deposited more money in the​ plan? Which of the two investment strategies is​ better? Yolanda deposits ​$550 per month in an account with an APR of

  27. Business

    Mr Jones intends to retire in 20 years at the age of 65. As yet he has not provided for retirement income, and he wants to set up a periodic savings plan to do this. If he makes equal annual payments into savings account that pays 4% interest per year, how

  28. Math

    If an individual saves $5,700 and elects to place the total dollar amount into a savings account earning​ 2.75% APR compounded​ monthly, how much will the original deposit grow to in 12​ years?​

  29. Business mathematics

    Jenny purchases a piano for rm 7000. She pays down payment of rm 2000 and agrees to pay the balance in 15 equal monthly payments, the first due in one month. If the dealer charges her 5% compounded monthly , find her monthly payment.

  30. math

    Nathaniel wants to buy a new bicycle. His payment options are: Option 1: Pay $2055.99 cash. He only has $400.00 saved up, so he can take out a loan for the rest from his bank at a rate of 7.25% per annum over 2 years. Option 2: Take the store payment plan

  31. Finance

    Could someone tell me how to calculate this in excel? You are applying for a 30-year, fixed-rate (APR 6.50%), monthly-payment-required mortgage loan for a house that sells for $80,000 today. The mortgage bank will ask you for 20% initial down payment (in

  32. Math

    Alfred Juarez paid off a 15,000 car lon over3 years with monthly payments of $ 487.54 each. Find the finance charge and the APR

  33. Finance

    You are 45 years of age and your asporation is to retire in 17 years at age 62. Assume you are about to set up a new retirement savings account at a 4% annual interest rate (APR). Based on how you want to live in retirement, and any other sources of

  34. Mathematics

    I really need help with these three questions. Thank You. 1. Calculate the finance charge and new balance using the previous balance method. Previous balance = $179.32 Annual rate = 16% Finance charge $ ? New purchases = $117.42 Payments/credits = $85.00

  35. Math

    1. Rishi ram obtained an installment loan for $3,000.00. He agreed to repay the loan in 6 monthly payments. His monthly payments is $516.50. What is the APR? MY ANSWER=0.33% 2. Tim Newman took out a simple interest loan of $1500 at a 10 percent interest

  36. Math

    Josh borrows some money on which he makes monthly payments of $125.43 for 3 years. If the interest rate is 5.4%/a compounded monthly, what will be the total amount of all of the payments at the end of the 3 years?

  37. math-finance

    The Colemans finance their home with a $90,000 mortgage loan at 9.25% APR. What will their monthly payments be if the load has a term of 15 years? when i did the calculations i got $926.27 but I'm not sure thats correct Thank you!

  38. accounting

    Mr. Jones intends to retire in 20 years at the age of 65. As yet he has not provided for retirement income, and he wants to set up a periodic savings plan to do this. If he makes equal annual payments into a savings account that pays 4 percent interest per

  39. Fiance

    If you take out an $8,400 car loan that calls for 36 monthly payments starting after 1 month at an APR of 9%, what is your monthly payment?

  40. math

    Assume you want to accumulate $125,000 for a long-range goal in 40 years. You have two choices. Plan A is an account with annual compounding and an APR of 5%. Plan B is an account with continuous compounding and an APR of 4.5%. How much of an investment

  41. math

    Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of $42,650 with factory and dealer rebates of $5,100 Find the monthly payment if financed for 60 months at 0% APR. Find the monthly payment if

  42. Math

    The monthly loan payment was calculated at 119 payments of $348.33 plus a final payment of $347.54. Loan Balance: $30,000.00 Loan Interest Rate: 7.00% Monthly Loan Payment: $348.33 Number of Payments: 120 Cumulative Payments: $41,798.81 Total Interest

  43. math 101

    Stacey has a $8,000 balance on her credit card that has an interest rate of 21%, compounded monthly. (a) If she decides to pay it off over 5 years with equal monthly payments, how much should each payment be? (b) How much interest will Stacey pay to the

  44. Math

    Find the savings plan balance after 33 years with an APR of 9​% and monthly payments of ​$200

  45. Math

    Find the savings plan balance after 2 years with an APR of 9% and monthly payments of ​$200 Can someone help?

  46. Maths

    Firm has a $500,000 loan with 9% APR (compounded monthly) Loan is 5-yr based on a 15-yr amortization, meaning loan payments will be calculated as if you take 15 years to pay off the loan, but actually must do so in 5 yr. To do this, you make 59 equal

  47. math

    $400,000 for 30-years at a fixed APR of 3.87%. The loan payments are monthly and interest is compounded monthly.

  48. Finance - Annuities

    You have just graduated from the MBA program and to reward yourself you have decided to purchase a 2012 BMW 650 sports car. You are scheduled to make a $12,000 down payment on the vehicle and have been told that your monthly payments will be $2,250/month

  49. math

    Kate bought a new car priced at $21,300 with 15% down and the balance in equal payments over 4 years at 7% compounded monthly. Determine the size of the monthly payments? The answer is $433.65 please show me the steps

  50. Finance

    Assume that you have a balance of $3000 on your American Express credit card and that you make no more charges. If your APR is 18% and each month you make only the minimum payment of 4% of your balance, then the formula for the balance after t monthly

  51. Finance

    You have a balance of $7500 on your credit card and you make no further charges. If your APR is 12.5% and each month you make only the minimum payment of 5% of your balance, then find a formula for the balance after t monthly payments. A) 7500(0.959896) t

  52. Finance

    You have a balance of $12,000 for your tuition on your credit card and you make no further charges. If your APR is 16.7% and each month you make only the minimum payment of 2% of your balance, then find a formula for the balance after t monthly payments.

  53. Finance

    You take out a 30 year $100000 mortgage loan with an apr of 6% and monthly payments. In 12 years you decide to sell your house and pay off the mortgage. What is the principle balance on the loan?

  54. maths

    . Louisa has $4,500 in her savings account. She has to choose between two savings plans. Under plan A, she will increase her account balance by 10% per year. Under plan B, her account balance will increase by $525 per year. If she plans to keep her money

  55. Finance

    A mortgage broker is offering a $225,000 30-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 2.5 percent APR interest rate. After the second year, the mortgage interest rate charged

  56. Finance Math

    1. Your average daily balance on your charge card for the month of July is $855.28. If your card carries an annual interest rate of 15.4%, what will your finance charge be for July? 2. You buy a car from your neighbor at a price of $9,000. You pay $500

  57. math

    You purchased a sofa costing $1,150 by taking out an installment loan. You made a down payment of $250 and financed the balance by making monthly payments of $25.28 for 48 months. Use Table 13-1 to find the APR.

  58. Math

    1. You have two credit cards. Credit card 1 has a balance of $7,512.33 with an APR of 21.25% and limit of $10,000. Credit card 2 has a balance of $623.34 with an APR of 24.15% and limit of $7,500. In your own words, which credit card should you focus on

  59. Finite Math

    Malika Agwani starts her career at the age of 25 and makes equal monthly deposits for 35 years into an annuity that earns 6.25% compounded monthly. She plans on retiring the age of 60 and would like to withdraw $3000 monthly for 25 years, bringing the

  60. Maths

    Mortgage company lets you pay a point (1% of total amount of loan)to reduce APR from 6.5% to 6.25% on a $400,000 30-yr mortgage with monthly payments. Plan to be in house for at least five years. Should you pay the point?

  61. ALGEBRA

    Find the APR for the following loan (monthly payments). (Round your answer to the nearest full percent.) Purchase a refrigerator for $2,100 at 20% add-on interest for 3 years.

  62. Math

    You plan on borrowing $14000 at 16% APR for 5 years. Use Web Loan Calculator to find the monthly payment. Find the total interest paid on this loan for the first 20 months. Set up a spread sheet to answer. Here is an example of what it should look like.

  63. Finance

    you take out a $250,000, 30-year loan with monthly payments at a 6.5% interest rate. 4 years later, you refinance the remaaining balance at a 4% rate and pay a $1,000 fee. What is the present value of the savings from doing this?

  64. Accounting

    Mr. jones intends to retire in 20 years at the age of 65. As yet he has not provided for retirement income, and he wants to set up a perodic savings plan to do this. If he makes equal annual payments into a savings account that pays 4 percent interest per

  65. Calculus

    A $99,000 mortgage for 30 years at 9% APR requires monthly payments of $796.58. Suppose you decided to make monthly payments of $1,100. When would the mortgage be completely paid? I am using a present value of annuity eguation but don't know how to solve

  66. Java

    Can someone please help me out!!!I included what I have so far.. *Purpose: Say that you owe the credit card company $1000.00. The company charges you 1.5% per month on the unpaid balance. You have decided to stop using the card and to pay off the debt by

  67. engr. econ.

    homeowener is considering refinancing his home. original amount of the 30 yr loan was 250,000 at 12% compounded monthly. The owner has made ten years of payments. how much is the remaining balance on the loan. this is what I gotL r=12%, m=12,

  68. Math

    Determine the balance if you were to invest 10,000 at an APR of 9% compounded monthly for seven years.

  69. College math

    Determine the balance of $10,000 is invested at an APR of 9% compounded monthly for seven years.

  70. Math

    Carol is going to buy a new car which will cost her $1,500.00 and borrowing the remainder. If she makes monthly payments of $343.00 for three years, what APR has she paid?

  71. Finance

    An annuity is developed and used based on the concept of time value of money. Please solve for the principle required when one retires so that a payment of $1500.00 is received each month for 30 years (360 months). Assume that the interest rate for the

  72. Finance

    Here's another way to look at it. Suppose you want to borrow $100,000. You choose a 30-year fixed rate loan at 7.5%, and pay one discount point ($1,000), a 1% origination fee ($1,000), and $350 in other fees. Although the lender is giving you a loan for

  73. Math

    A company establishes a sinking fund in order to have 100,000 for upgrading office equipments in 4 years. If the company makes fixed monthly payments into an account paying 6.6% compounded monthly, how much should each payment be? How much interest will

  74. Business maths - Instalment purchases

    The cash price of a speed boat is RM60,000. Under an installment plan, a buyer may pay a 30% down payment followed by monthly payments for 5 years. If the interest is 6% on the reducing balance, calculate (i) the amount of interest using the constant ratio

  75. Instalment purchases

    The cash price of a speed boat is RM60,000. Under an installment plan, a buyer may pay a 30% down payment followed by monthly payments for 5 years. If the interest is 6% on the reducing balance, calculate (i) the amount of interest using the constant ratio

  76. Computer Science/Excel

    Here's the problem: John believes that the average American will be in debt forever. He decides to create a table that demonstrates this. He thinks that given 60 months (5 years) to get out of debt and the annual percentage rates 1-5 and 7-15 the

  77. math- pre calculus

    you are depositing $1000 dollars in a savings account and are given the following options. 6.2% annual interest rate, compounded annually 6.1% annual interest rate, compounded quarterly 6.0% annual interest rate, compounded continuously for each option,

  78. Finance - Loans problem please help

    A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company sets up a sinking

  79. Math

    Suppose that you invest $6384 in an account that earns interest at an APR of 4.6%, compounded monthly. Determine the accumulated balance after 9 years.

  80. Math-Needing Help Quick!

    When Beth finishes college, she has a balance or $2876.37 on a credit card with an annual percentage rate (APR) or 17.3%. She decides to not make any additional purchases with her card until she has paid off the balance. Assuming the minimum payment is 2%

  81. Precalculus

    you borrow $5,000 from your parents to purchase a used car. The arrangements of the loan are such that you make payments of $250 per month toward the balance plus 1% interest on the unpaid balance from the previous month. (a) Find the first year monthly

  82. Please Help me with a Finance - Loan problem

    A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company sets up a sinking

  83. finance

    I am borrowing $10,000 for 5 years at 9%. payments, which are made on a monthly basis, are determined using the add-on method. 1. how much total interest will i have to pay on the loan if it is held for the full 5 year term. 2. what are my monthly

  84. Finance

    I am borrowing $ 10,000 for 5 years at 7% . Payments are made on a monthly basis and are determined using the add- on method. 1: How much total interest will I pay on the loan if I held it for the full 5 year term ? 2 : What would my monthly payments be

  85. Math

    determine finance charge rebate. Kelly has a 66 month car loan monthly payments of 382.87. the APR is 22.99%. so far Kelly has paid 25 monthly payments, next week she will receive an inheritance and wants to pay off the loan, there are 41 months left what

  86. math

    Malinda has a savings account set up so that her monthly interest -0.1% of the balance of her savings accounts is given to her as a check at the end of each month. If her savings account has a balance of $1,500 all year. What will be the total amount of

  87. Business Math ( Future ordinary Annuities)

    Howard has deposited RM1000 at the end of each month into a retirement savings plan for the last 10 years in his working life. His deposits earned an interest rate of 2.5% per month for the first 4 years and 3% per month for the rest of the years. What is

  88. finance

    For a $13,000 student loan with a 6% APR, how much of the payment will go toward the principal and how much will go toward paying interest for each of the first six payments? Assume this is a 10-year loan with monthly payments.

  89. math

    you intend to create a college fund for your baby. if you get an interest rate of 5.3% compounded monthly and want the fund to have $123,875 after 17 years, how much needs to be deposited each month? and 1 more jessica used a fixed installment loan from

  90. math 20 (finance)

    Can someone walk me through how I would enter this into the calculator TMV solver. Can it be done? Jeremy has a balance owing of $4000 on his credit card. The credit-card company charges 18.0% annual interest, compounded monthly. 1.) If Jeremy makes

  91. Finance

    You are planning to borrow OMR 5,000. You can repay the loan in 40 monthly payments of OMR 147.50 each or 36 monthly payments of OMR 161.34 each. You decide to take the 40-month loan. During each of the first 36 months you make the loan payment and place

  92. Helpppp

    Find the apr to the nearest half percent for the following loan Amount financed $3400 Finance charge $470 Number of monthly payments 36 Please help

  93. Finance

    If Mrs. Smith lives to age 88 (she is now retiring at 65 years) what annual APR will result in the 420000 reaching a balance of 1000000 upon her death, if she deposits them in an account that offers monthly compounding?

  94. Finance

    If Mrs. Smith lives to age 88 (she is now retiring at 65 years) what annual APR will result in the 420000 reaching a balance of 1000000 upon her death, if she deposits them in an account that offers monthly compounding?

  95. Business Math

    A couple purchased a home 5 years ago with a 20-year mortgage for $50,000 at an interest rate of 6% compounded monthly. The home is now valued at $90,000. A) How much are the couple's monthly payments? B)What is their balance after 7 years and how much

  96. algebra

    50,000 is the amount of a loan needed to purchase a restaurant location. After researching to find the best interest rate, you find that banks for small business offer the best interest rate at 9% compounded monthly for 7 years. After making a monthly

  97. math

    Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of $42,650 with factory and dealer rebates of $5,100 a-Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest

  98. math

    When Beth finishes college, she has a balance of $2876.37 on a credit card with an annual percentage rate (APR) of 17.3%. She decides not to make any additional purchases with her card until she has paid off the balance. Assuming the minimum payment is 2%

  99. Finance - Loans problem

    Reiny the answer 307.33 you posted at the bottom is coming up incorrect. please if you can help i would be very grateful. A company borrows $170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay

  100. Algebra CTU

    What is the unpaid balance of the business loan of 50,000 with interest rate of 9% compounded monthly for7 years, after the firt year of payments?

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