Question

Number of Periods of an Annuity You have $56,827.72 in a brokerage account, and you plan...

Number of Periods of an Annuity You have $56,827.72 in a brokerage account, and you plan to deposit an additional $7,000 at the end of every future year until your account totals $450,000. You expect to earn 10.6% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places.

__________years

You want to buy a car, and a local bank will lend you $20,000. The loan would be fully amortized over 5 years (60 months), and the nominal interest rate would be 8% with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent.
$ _______

What is the loan's EFF%? Round your answer to two decimal places.
%________

Business   Finance   
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
Number of Periods of an Annuity You have $57,503.85 in a brokerage account, and you plan...
Number of Periods of an Annuity You have $57,503.85 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $350,000. You expect to earn 6.9% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places. show calculator steps
Annuity Payment and EAR You want to buy a car, and a local bank will lend...
Annuity Payment and EAR You want to buy a car, and a local bank will lend you $30,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 6% with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. $   What is the loan's EFF%? Round your answer to two decimal places. %
Number of Periods of an Annuity You have $57,170.68 in a brokerage account, and you plan...
Number of Periods of an Annuity You have $57,170.68 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $425,000. You expect to earn 9.9% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.
Problem 4-8 Annuity Payment and EAR You want to buy a car, and a local bank...
Problem 4-8 Annuity Payment and EAR You want to buy a car, and a local bank will lend you $10,000. The loan would be fully amortized over 5 years (60 months), and the nominal interest rate would be 10% with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. $   What is the loan's EFF%? Round your answer to two decimal places. %
You want to buy a car, and a local bank will lend you $20,000. The loan...
You want to buy a car, and a local bank will lend you $20,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 6%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. $ --------------- What is the loan's EFF%? Do not round intermediate calculations. Round your answer to two decimal places. -----------%
You want to buy a car, and a local bank will lend you $10,000. The loan...
You want to buy a car, and a local bank will lend you $10,000. The loan would be fully amortized over 3 years (36 months), and the nominal interest rate would be 15%, with interest paid monthly. What is the monthly loan payment? What is the loan's EFF%?
You have $50,176.72 in a brokerage account, and you plan to deposit an additional $7,000 at...
You have $50,176.72 in a brokerage account, and you plan to deposit an additional $7,000 at the end of every future year until your account totals $400,000. You expect to earn 11.8% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places.
You want to buy a car, and a local bank will lend you $35,000. The loan...
You want to buy a car, and a local bank will lend you $35,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 10% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places.
You want to buy a car, and a local bank will lend you $40,000. The loan...
You want to buy a car, and a local bank will lend you $40,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 4% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places.
You want to buy a car, and a local bank will lend you $25,000. The loan...
You want to buy a car, and a local bank will lend you $25,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 9% with interest paid monthly. What will be the monthly loan payment? Do not round intermediate steps. Round your answer to the nearest cent. $ What will be the loan's EAR? Do not round intermediate steps. Round your answer to two decimal places. %
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT