Find the savings plan balance after 2 years with an APR of 9% and monthly payments of $200 Can someone help?
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Raj is deciding between two cell phone plans, A and B, which are both linear functions. The monthly charge for plan A according to the number of minutes used is shown in the table. Monthly Charge for Plan A Minutes used, x Monthly charge ($), y 0 14.45 3

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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?

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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?

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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

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You take out a 30year $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?

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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

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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)

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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 aFind the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest

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Suppose you take out a 45year $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%,

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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% addon interest for 3 years.

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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=____%

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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

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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

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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?

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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.

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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

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

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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

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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

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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

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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

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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?

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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!

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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

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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?

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Assume you want to accumulate $125,000 for a longrange 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

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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

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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

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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

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

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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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Firm has a $500,000 loan with 9% APR (compounded monthly) Loan is 5yr based on a 15yr 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

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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

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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

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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

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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.

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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?

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. 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

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A mortgage broker is offering a $225,000 30year 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

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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

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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 131 to find the APR.

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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 30yr mortgage with monthly payments. Plan to be in house for at least five years. Should you pay the point?

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you take out a $250,000, 30year 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?

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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

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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,

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

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

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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

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Here's another way to look at it. Suppose you want to borrow $100,000. You choose a 30year 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

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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

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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

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I am borrowing $10,000 for 5 years at 9%. payments, which are made on a monthly basis, are determined using the addon 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

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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

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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

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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 aFind the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest

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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%

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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?