Question

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.

%________

Answer #1

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 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 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 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 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 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 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 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 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 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. %

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