Question

Find the savings plan balance after 12 months with an APR of 2% and monthly payments...

Find the savings plan balance after 12 months with an APR of 2% and monthly payments of $250.
Math   Advanced-Math   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
calculate the balance under the given assumptions. find the savings plan balance after 31 months with...
calculate the balance under the given assumptions. find the savings plan balance after 31 months with an apr of 2% and monthly payments of $386
You need to fund a tuition payment of $44,678 in 17 months. You plan to make...
You need to fund a tuition payment of $44,678 in 17 months. You plan to make 7 equal monthly payments starting next month to your savings account to go toward your tuition. If your savings account pays 3.9% APR compounded monthly, how big must the payments be? (a/(1+c/1200)^f)
Consider the two savings plans below. Compare the balances in each plan after 6 years. Which...
Consider the two savings plans below. Compare the balances in each plan after 6 years. Which person deposited more money in the​ plan? Which of the two investment strategies is​ better? Yolanda deposits ​$250 per month in an account with an APR of 6​%, while Zach deposits ​$3000 at the end of each year in an account with an APR of 6​%. The balance in​ Yolanda's saving plan after 6 years was ​$ ______________. ​(Round the final answer to the...
Consider the two savings plans below. Compare the balances in each plan after 8 years. Which...
Consider the two savings plans below. Compare the balances in each plan after 8 years. Which person deposited more money in the​ plan? Which of the two investment strategies is​ better? Yolanda deposits $300 per month in an account with an APR of 6​%, while Zach deposits ​$3600 at the end of each year in an account with an APR of 6%. The balance in​ Yolanda's saving plan after 8 years was ​$ Now calculate the balance in​ Zach's savings...
You want to begin building your emergency savings fund of 6 months of monthly expenses. Based...
You want to begin building your emergency savings fund of 6 months of monthly expenses. Based on your budget you have determined that you can save $250 per month toward this fund. You choose a savings account at a local Credit Union that is paying 2.0% interest, compounded monthly. At this amount and rate of interest, how much will you have in the savings account in 12 months? In 24 months?
1.A loan is offered with monthly payments and a 12.50 percent APR. What’s the loan’s effective...
1.A loan is offered with monthly payments and a 12.50 percent APR. What’s the loan’s effective annual rate (EAR)? 2. Assume that you contribute $360 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $720 per month for another 25 years. Given a 6.0 percent interest rate, what is the value of your retirement plan after the 40 years?
Consider the two savings plans below. Compare the balances in each plan after 8 years. Which...
Consider the two savings plans below. Compare the balances in each plan after 8 years. Which person deposited more money in the plan? Which of the two investment strategies is better? Yolanda deposits $400 per month in an account with an APR of 3%, while Zach deposits $5000 at the end of each year in an account with an APR of 3.5%. The balance in Yolanda's saving plan after 8 years was $ The balance in Zach's saving plan after...
Suppose you decide to save 10% of your net monthly income. Find this amount. Monthly Savings...
Suppose you decide to save 10% of your net monthly income. Find this amount. Monthly Savings = $290.31 If you invest this money in an account that compounds monthly with an APR of 2.5%, how much will you have saved i) after 1 year? ii) after 3 years?
Suppose 2 years ago a borrower borrowed a FRM loan at 12% IRR with monthly payments...
Suppose 2 years ago a borrower borrowed a FRM loan at 12% IRR with monthly payments for an initial balance of $100000 with 20 years term. Further suppose that the current interest rate available in the market is 6%. the borrower could refinance the loan at 6% interest but keep the same monthly payments and reduce the number of months needed to amortize the debt. What will be the new months needed to amortize the debt? *Please show work on...
You are offered a computer for monthly payments of $125 for 24 months. If you are...
You are offered a computer for monthly payments of $125 for 24 months. If you are paying 3% APR monthly, what is the price of the computer? A.$1,597 B.$3,000 C.$1,908 D.$2,034 E.$2,908
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT