Question

Suppose the interest rate is 9.9 % APR with monthly compounding. What is the present value...

Suppose the interest rate is 9.9 % APR with monthly compounding. What is the present value of an annuity that pays $ 115 every three months for five ​years? ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.)

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Suppose the interest rate is 7.3 % APR with monthly compounding. What is the present value...
Suppose the interest rate is 7.3 % APR with monthly compounding. What is the present value of an annuity that pays $ 80 every three months for four ​years? ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.)
Suppose the interest rate is 8.0% APR with monthly compounding. What is the present value of...
Suppose the interest rate is 8.0% APR with monthly compounding. What is the present value of an annuity that pays $100 every six months for five ​years? ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.) The present value of the annuity is? ​(Round to the nearest​ cent.) ***NO THE ANSWER IS NOT $813.74, OR $811.09*** I entered both of these amounts that I saw from the exact same question posted on Chegg, both are...
Suppose the interest rate is 9% APR with monthly compounding. Then the present value of an...
Suppose the interest rate is 9% APR with monthly compounding. Then the present value of an annuity that pays $233 every quarter for the next seven years is closest to: Select one: a. $4791 b. $4744 c. $5041 d. $480
You make monthly payments on your car loan. It has a quoted APR of 7.2% (monthly...
You make monthly payments on your car loan. It has a quoted APR of 7.2% (monthly compounding). What percentage of the outstanding principal do you pay in interest each​ month? ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.) The percentage of the outstanding principal you pay in interest each month is ?
You have just taken out a $17,000 car loan with a 8% ​APR, compounded monthly. The...
You have just taken out a $17,000 car loan with a 8% ​APR, compounded monthly. The loan is for five years. When you make your first payment in one​ month, how much of the payment will go toward the principal of the loan and how much will go toward​ interest?  ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.)
You have found three investment choices for a​ one-year deposit: 10.2% APR compounded​ monthly, 10.2% APR...
You have found three investment choices for a​ one-year deposit: 10.2% APR compounded​ monthly, 10.2% APR compounded​ annually, and 9.4% APR compounded daily. Compute the EAR for each investment choice.​ (Assume that there are 365 days in the​ year.) ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.) The EAR for the first investment choice is nothing​%. ​(Round to three decimal​ places.)
You have just taken out a $22,000 car loan with a 5% ​APR, compounded monthly. The...
You have just taken out a $22,000 car loan with a 5% ​APR, compounded monthly. The loan is for five years. When you make your first payment in one​ month, how much of the payment will go toward the principal of the loan and how much will go toward​ interest?  ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.) When you make your first​ payment, ​$___ will go toward the principal of the loan and...
You have just taken out a $24,000 car loan with a 4% ​APR, compounded monthly. The...
You have just taken out a $24,000 car loan with a 4% ​APR, compounded monthly. The loan is for five years. When you make your first payment in one​ month, how much of the payment will go toward the principal of the loan and how much will go toward​ interest?  ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.) a. When you make your first​ payment, ​$ ______ will go toward the principal of the...
Suppose capital one is advertising a 60 month, 5.74% APR motorcycle loan. if you need to...
Suppose capital one is advertising a 60 month, 5.74% APR motorcycle loan. if you need to borrow $7,200 to purchase your dream Harley Davidson, what will be your monthly payment? (Note: be careful not to round any intermediate steps less then six decimal places.)
You have just taken out a $28,000 car loan with a 6 %​APR, compounded monthly. The...
You have just taken out a $28,000 car loan with a 6 %​APR, compounded monthly. The loan is for five years. When you make your first payment in one​ month, how much of the payment will go toward the principal of the loan and how much will go toward​ interest?  ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.) When you make your first​ payment,​$__ will go toward the principal of the loan and $__will...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT