# Matty Kaminsky owns a new Volvo. His June monthly interest was \$400. The rate is 8 ½ percent. Matty's principal balance at the beginning of June is: (Use 360 days)

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1. ## math

Find the monthly interest payment in the situation described below. Assume that the monthly interest rate is 1 divided by 1/12 of the annual interest rate. You maintain an average balance of ​\$780 on your credit​ card, which carries a 15​% annual

2. ## math

The Sandersons are planning to refinance their home. The outstanding principal on their original loan is \$100,000 and was to amortized in 240 equal monthly installments at an interest rate of 11%/year compounded monthly. The new loan they expect to secure

3. ## Finite Math

Five years ago, Diane secured a bank loan of \$370,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 10% per year compounded monthly on the unpaid balance. Because the

4. ## Finance

The following information was available as of the close of business June 1, 2004 on government of Canada bonds. Coupon...Maturity.....Price.....Yield 5.00%......June 1, 2005......102.35......2.60 10.50%......June 1, 2006......113.91......3.26

5. ## MATH

Dave takes out a 24-year mortgage of 210,000 dollars for his new house. Dave gets an interest rate of 13.2 present compounded monthly. He agreed to make equal monthly payment, the first coming in one month. After making the 68th payment, Dave wants to buy

Matty Kaminsky owns a new Volvo. His June monthly interest was \$400. The rate is 8 ½ percent. Matty's principal balance at the beginning of June is: (Use 360 days)

7. ## Math (finance )

Find the monthly payment, needed to have a sinking fund accumulate the future value, \$16,000. The yearly interest rate is 6.7% and the number of payments is 20. Interest is compounded monthly. I do not remember how to solve for this equation. Please help

Matty Kaminsky owns a new Volvo. his june monthly interest was \$400. The rate is 81/2 percent. Matt's principal balance at tje beginning of june is 360 days

9. ## Math

Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged \$1,000 to a credit card that has a minimum payment each month equal to the interest

10. ## Finance - Loans 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

11. ## Math

Find the monthly payment, needed to have a sinking fund accumulate the future value, \$16,000. The yearly interest rate is 6.7% and the number of payments is 20. Interest is compounded monthly. Round your answer to the nearest cent. I do not understand how

12. ## 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

13. ## Computer Programming using python

Now write a program that calculates the minimum fixed monthly payment needed in order pay off a credit card balance within 12 months. By a fixed monthly payment, we mean a single number which does not change each month, but instead is a constant amount

14. ## math

Nathaniel want to buy a new bike. 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. Option2: Take the store payment plan of 12

Matt Kaminsky owns a new Volvo. His June monthly interest was \$400. The rate is 8 1/2 percent. Matty's principle balanve at the beginning of June is ( Use 360 days)

16. ## algebra

A principal of \$5000 was invested in a savings account for 4 years. If the interest earned for the period was \$400, what was the interest rate? i know this is 1.5 % or at least I think it is but how do i write it out? Use the equation I=Prt, where

margie pagano is buying a car. her june payment monthly interest at 13.2% was \$208. what was margie principal balance at the beginning of june

18. ## math

Matty jogs 1km in 5 minutes. Identify the correct conversion factor setup required to compute Matty's speed in m/s.

19. ## Math

Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged \$1,000 to a credit card that has a minimum payment each month equal to the interest

20. ## Math

Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged \$1,000 to a credit card that has a minimum payment each month equal to the interest

21. ## 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

22. ## Hillcrest High

Matty Kaminsky owns a new Volvo. His June monthly interest was \$400. The rate is 8 ½ percent. Matty's principal balance at the beginning of June is: (Use 360 days) (Points

23. ## interest

Matty Kaminsky owns a new Volvo. His June monthly interest was \$400. The rate is 8 1/2 percent. Matty's principal balance at the beginning of June, rounded to the nearest cent, is: (Use 360 days)

24. ## economics

Picabo borrows \$1,000. To repay the amount she makes 12 equal monthly payments of \$90.30. Determine the following: (a) The effective monthly interest rate (b) The nominal annual interest rate (c) The effective annual interest rate

25. ## College Math

Find the amount of interest and the monthly payment for the loan. Purchase a living room set for \$3,400 at 12% add-on interest for 5 years. (Round your monthly payment to the nearest cent.)

26. ## Computer Programming using python

Now write a program that calculates the minimum fixed monthly payment needed in order pay off a credit card balance within 12 months. By a fixed monthly payment, we mean a single number which does not change each month, but instead is a constant amount

27. ## Finance

you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of \$35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan

28. ## Accounting

On June 1, Melendez Company borrows \$90,000 from First Bank on a 6-month, \$90,000, 12% note. Instructions (a) Prepare the entry on June 1. (b) Prepare the adjusting entry on June 30. (c) Prepare the entry at maturity (December 1), assuming monthly

29. ## math

Nathaniel want to buy a new bike. 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. Option2: Take the store payment plan of 12

30. ## Maths

Amortization of a \$1000 Loan Interest Monthly payment rate 15yr 20yr 25yr 30yr 9.5% \$10.45 \$9.33 \$8.73 \$8.41 10.0% \$10.75 \$9.66 \$9.09 \$8.78 10.5% \$11.06 \$9.99 \$9.45 \$9.15 11.0% \$11.37 \$10.33 \$9.81 \$9.53 11.5% \$11.69 \$10.66 \$10.16 \$9.90 12.0% \$12.01 \$11.01

31. ## math URGENT HELP

Mr. Hobbs was just about to take out a home mortage of \$120,000 for 20 yrs at the rate of 10.0% compounded monthly. The monthly payments would have been \$1158.03. But a competitive bank offered him a 30 yr mortgage at 9,5% which has monthly payments of

Sheds R Us sells \$600 sheds on a monthly payment plan over 2 years. a) If the interest rate is 1.5% per month, find the monthly payment. Answer = \$ b) If instead the interest rate is 1.75% per month, find the monthly payment Answer = \$ can anyone help me

Margie Pagano is buying a car. Her June monthly interest at 12.5% was \$201. What was Margie’s principal balance at the beginning of June? (Use 360 days a year. Do not round intermediate calculations. Do not round the denominator before dividing. Round

34. ## math

how long will it take to earn \$787.50 on \$5000 at 5 1/4%(percent) what is the rate it is compounded? annually, semi-annually, monthly, what? dat information is not given aren't you supposed to be using the interest rate formula? if so, then u have two

35. ## college mathematics

In exercises 59-62,let p: Tanisha owns a convertible. q: Joan owns a Volvo. Translate each statement into symbols. Then construct a truth table for each and indicate under what conditions the compound statement is true.#62 Tanisha does not own a

36. ## calculus

the monthly payment that amortizes a loan of A dollars in t yr when the interest rate is r per year, compounded monthly, is given by P=f(A,r,t) = Ar/ 12[1-(1+ r/12)^-12t ] Find the monthly payment for a home mortgage of 300,000 that will be amortized over

37. ## accounting

The following information was available as of the close of business June 1, 2004 on government of Canada bonds. Coupon...Maturity.....Price.....Yield 5.00%......June 1, 2005......102.35......2.60 10.50%......June 1, 2006......113.91......3.26

38. ## ALGEBRA

Find the amount of interest and the monthly payment for the loan. Purchase a living room set for \$3,400 at 12% add-on interest for 4 years. (Round your monthly payment to the nearest cent.) interest-\$192.00 per month -\$12.33 is this correct

39. ## 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

40. ## Math

On the June 12 interest payment date, the outstanding balance on Delta Nurseries’ revolving loan was \$65,000. The floating interest rate on the loan stood at 9.25% on June 12, but rose to 9.5% on July 3, and to 10% in July 29. If Delta made principal

41. ## math

On the June 12 interest payment date, the outstanding balance on Delta Nurseries’ revolving loan was \$65,000. The floating interest rate on the loan stood at 9.25% on June 12, but rose to 9.5% on July 3, and to 10% in July 29. If Delta made principal

42. ## college math

Suppose \$400 is invested for 4 years at a nominal yearly interest rate that is compounded monthly, further suppose it accumulates to 817.39 after 4 years. Find the annual nominal interest rate of the investment.

43. ## college math

Suppose \$400 is invested for 4 years at a nominal yearly interest rate that is compounded monthly, further suppose it accumulates to 817.39 after 4 years. Find the annual nominal interest rate of the investment.

44. ## Math

Find the amount of interest and the monthly payment for the loan. Purchase a car for \$42,400 at 2.4% add-on rate for 5 years. (Round your answers to the nearest cent.) \$_____ interest \$_____ per month

45. ## math

Brenda has taken out a \$1300 loan to pay for a hot tub. She will make monthly payments for a year at an interest rate of 10 %, compounded monthly. How much interest will she end up paying? Select one: a. \$213.45 b. \$71.49 c. \$112.56 d. \$110.89 What i don't

46. ## Math

Suppose that you want to deposit \$8,000 in an RRSP account that pays interest at a fixed rate of 100r% per year compounded monthly; for example, if the interest rate is 4%, then r = 0.04. Find the rate of interest r on the account if the interest earned

47. ## Seneca

Henrietta went to a bank and obtained a personal loan with an interest rate of 3.18% compounded monthly. if the effective interest rate on the loan were to decrease by 1%, calculate the new nominal rate compounded monthly?

48. ## Compound math

(Future Value) Suppose you invest \$8000 into an account that pays an annual interest rate of 6.2%. How much is in the account after 30 years if a. simple interest is compound monthly? b. interest is compounded monthly? c. interest is compounded daily?

49. ## Finite Math

The Sandersons are planning to refinance their home. The outstanding principal on their original loan is \$110,000 and was to amortized in 240 equal monthly installments at an interest rate of 11%/year compounded monthly. The new loan they expect to secure

50. ## math

The Sandersons are planning to refinance their home. The outstanding principal on their original loan is \$110,000 and was to amortized in 240 equal monthly installments at an interest rate of 11%/year compounded monthly. The new loan they expect to secure

51. ## drwls,math

so you are saying that i should label p = 30 i = 0.0125/12 = 0.0010416666666666666666666666666667 n = 12(3) = 36 then plug it into what formula ? Problem: Stereo shack sells a stereo system for \$600 down and monthly payments of \$30 for the next 3 yrs. In

52. ## Finance

Bill Seeker bought a boat costing \$8500 with \$1500 down, the balance plus add-on interest to be paid in 36 monthly installments. If the add-on interest rate was 18% find A. the total interest charged. b. the monthly payment, to the nearest dollar

53. ## Math, effective rate

I only need my problem to be checked. What is the effective annual rate of an account offering .09% monthly interest compounded monthly? Since it is compounded monthly, my m is equal to 12. My rate is 0.09. reff= (1+0.09/12)^12-1 = 9.38%

54. ## Finance - Loans problem

Can someone please explain how this problem is laid out to solve.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%

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

56. ## math

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

57. ## Finance

you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of \$35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan

58. ## Finance

you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of \$35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan

59. ## Finance

you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of \$35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan

60. ## Finance

Five years ago, you bought a house for \$151,000. You had a down payment of \$30,000, which meant you took out a loan for \$121,000. Your interest rate was \$5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the

Five years ago, you bought a house for \$151,000. You had a down payment of \$30,000, which meant you took out a loan for \$121,000. Your interest rate was \$5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the

62. ## math

Suppose you have a \$1,000 charge on a credit card charging 1% monthly interest using the adjusted balance method. The minimum payment due in May is \$30. How much will you save in interest charges in June by paying \$60 instead?

63. ## ALGEBRA

Suppose you have a \$1,000 charge on a credit card charging 1.5% monthly interest using the adjusted balance method. The minimum payment due in May is \$40. How much will you save in interest charges in June by paying \$80 instead?

64. ## Algebra

Suppose you have a \$1,000 charge on a credit card charging 1.5% monthly interest using the adjusted balance method. The minimum payment due in May is \$20. How much will you save in interest charges in June by paying \$40 instead?

65. ## math

Suppose you have a \$1,000 charge on a credit card charging 1.5% monthly interest using the adjusted balance method. The minimum payment due in May is \$30. How much will you save in interest charges in June by paying \$60 instead? \$ 1

66. ## math

Suppose you have a \$1,000 charge on a credit card charging 1.5% monthly interest using the adjusted balance method. The minimum payment due in May is \$20. How much will you save in interest charges in June by paying \$40 instead?

67. ## math

Suppose you have a \$1,000 charge on a credit card charging 1% monthly interest using the adjusted balance method. The minimum payment due in May is \$40. How much will you save in interest charges in June by paying \$80 instead? \$ 1

Suppose you have a \$1,000 charge on a credit card charging 1.5% monthly interest using the adjusted balance method. The minimum payment due in May is \$20. How much will you save in interest charges in June by paying \$40 instead?

69. ## Math

How do I find the exact interest on a loan for \$3000 with a simple interest annual interest rate of 15% that was made on June 11 and was due on August 11.

70. ## 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

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

72. ## math

Suppose you have a \$1,000 charge on a credit card charging 1% monthly interest using the adjusted balance method. The minimum payment due in May is \$50. How much will you save in interest charges in June by paying \$100 instead? \$ 1

73. ## math

Suppose you have a \$1,000 charge on a credit card charging 1% monthly interest using the adjusted balance method. The minimum payment due in May is \$50. How much will you save in interest charges in June by paying \$100 instead?

74. ## ALGEBRA

Suppose you have a \$1,000 charge on a credit card charging 1.5% monthly interest using the adjusted balance method. The minimum payment due in May is \$20. How much will you save in interest charges in June by paying \$40 instead? I had \$8,234.65

75. ## ALGEBRA

Suppose you have a \$1,000 charge on a credit card charging 1% monthly interest using the adjusted balance method. The minimum payment due in May is \$50. How much will you save in interest charges in June by paying \$100 instead? Steps please.

76. ## ALGEBRA

Suppose you have a \$1,000 charge on a credit card charging 1% monthly interest using the adjusted balance method. The minimum payment due in May is \$50. How much will you save in interest charges in June by paying \$100 instead? Steps please.

77. ## ALGEBRA

Suppose you have a \$1,000 charge on a credit card charging 1% monthly interest using the adjusted balance method. The minimum payment due in May is \$50. How much will you save in interest charges in June by paying \$100 instead? Steps please.

78. ## ALGEBRA

Suppose you have a \$1,000 charge on a credit card charging 1% monthly interest using the adjusted balance method. The minimum payment due in May is \$50. How much will you save in interest charges in June by paying \$100 instead? Steps please.

79. ## Algebra

I am trying to work through this problem and am having trouble. Can someone tell me what the "w" stands for in the equation and walk me through the steps? Below is what I have so far. Suppose A is the amount borrowed, r is the interest rate (in decimal

80. ## Algebra

I am trying to work through this problem and am having trouble. Can someone tell me what the "w" stands for in the equation and walk me through the steps? Below is what I have so far. Suppose A is the amount borrowed, r is the interest rate (in decimal

81. ## Math

Mr. Nielson wants to borrow \$1,000 for 2 years. He is given the choice of i) simple interest at 12%, or ii) a loan at 10% compounded monthly. Which loan results in less interest due ? b) What interest rate compounded quarterly will give an effective

82. ## Math (Interest)

If I was given an amount of money for 1 month, and I wanted to compound its interest monthly, which formula would I need to use? My interest rate is 2.5%. I want to compound monthly (so n=12). But I want to find the amount after compounding interest

83. ## Math

Find the finance charge (interest) due on a 9-month loan of \$2,400 at a simple interest rate of 10%.(Use the formula for simple interest: Interest Earned = Principal×Rate×Time) (a)\$ 18.00 (b)\$ 1,800 (c)\$ 180 (d)\$ 1.80 (e)\$ 18 I put in 2400*9*.10 and it

84. ## math

Mr. Hobbs was just about to take out a home mortage of \$120,000 for 20 yrs at the rate of 10.0% compounded monthly. The monthly payments would have been \$1158.03. But a competitive bank offered him a 30 yr mortgage at 9,5% which has monthly payments of

85. ## Maths

Dave takes out a 27-year mortgage of 200000 dollars for his new house. Dave gets an interest rate of 14.4 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 70th payment, Dave wants to buy

86. ## Math

Dave takes out a 23-year mortgage of 200000 dollars for his new house. Dave gets an interest rate of 13.2 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 65th payment, Dave wants to buy

87. ## Finance

Dave takes out a 30-year mortgage of 200000 dollars for his new house. Dave gets an interest rate of 16.8 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 68th payment, Dave wants to buy

88. ## financial management

suppose you purchase a home for \$150,000.and obtain a 90% mortgage loan, 30 yr. maturity, at a fixed annual interest rate of 80% with deferred monthly payments. What is the monthly payment for principal and interest on this loan?

89. ## Math

Dave takes out a 24-year mortgage of 290000 dollars for his new house. Dave gets an interest rate of 14.4 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 68th payment, Dave wants to buy

90. ## math

Suppose you have a \$1,000 charge on a credit card charging 1.5% monthly interest using the adjusted balance method. The minimum payment due in May is \$30. How much will you save in interest charges in June by paying \$60 instead? \$ 1 .Viewing Saved Work

91. ## FINANCE

Now that they have accumulated a deposit of 55,000 Jack and Jill take out a housing loan to purchase a home. The house costs \$755,000. It is to be repaid in equal monthly instalments over a term of 30 years. The interest rate quoted by the bank is an

Margie Pagano is buying a car. Her June monthly interest at 12.5% was \$201. What was Margie’s principal balance at the beginning of June? (Use 360 days a year. Do not round intermediate calculations. Do not round the denominator before dividing. Round

93. ## 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

94. ## finance

For this assignment, imagine you are the accountant for Floral Design Company and are assigned to prepare the monthly bank reconciliation. Complete this task, by using the data below: 1. Complete the bank reconciliation for the month of June. 2. Prepare

95. ## 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

Sheds R Us sells \$600 sheds on a monthly payment plan over 2 years. a) If the interest rate is 1.5% per month, find the monthly payment. Answer = \$ b) If instead the interest rate is 1.75% per month, find the monthly payment Answer = \$ can anyone help me

97. ## Finances

Sheds R Us sells \$600 sheds on a monthly payment plan over 2 years. a) If the interest rate is 1.5% per month, find the monthly payment. Answer = \$ b) If instead the interest rate is 1.75% per month, find the monthly payment Answer = \$ can anyone help me

98. ## math

you have deposited 1000 dollars in your savings account with n annual interest rate of 4 percent compounded monthly. how much money are you going to have in your account after six months? [(1+ 0.04/12)]^6 x 1000 = ?? is the answer 1020.164? You got it.

99. ## Finite Math

Five years ago, Diane secured a bank loan of \$390,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 8% per year compounded monthly on the unpaid balance. Because the

100. ## UWI

Digicel Jamaica has raised financing by issuing 25-year bonds on January 1, 2009. They mature on December 31, 2033 and have a par value of \$1,000 and a coupon rate of 8%. Coupon payments are made semi-annually. a)What is interest rate risk? Which bond has