Question

In 5 years Harry and Sally would like to have $30,000.00 for a down payment on...

In 5 years Harry and Sally would like to have $30,000.00 for a down payment on a house. How much should they deposit each month into an account paying 10 % compounded monthly?

Math   Statistics-And-Probability   
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
In 5 years Harry and Sally would like to have $30,000.00 for a down payment on...
In 5 years Harry and Sally would like to have $30,000.00 for a down payment on a house. How much should they deposit each month into an account paying 10% compounded monthly?
In order to accumulate enough money for a down payment on a house, a couple deposits...
In order to accumulate enough money for a down payment on a house, a couple deposits $367 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 7 years? Amount in the account= How much interest earned=
Sectoion 13.3 10. Mrs. Bell expects to retire in 7 years and would like to receive...
Sectoion 13.3 10. Mrs. Bell expects to retire in 7 years and would like to receive $800 at the end of each month for 10 years following the date of her retirement. How much must Mrs. Bell deposit today in an account paying 7.5% compounded semi-annually to receive the monthly payments?  
You would like to save annually for buying a car 6 years from today. Suppose the...
You would like to save annually for buying a car 6 years from today. Suppose the first deposit is made today and the last deposit will be made 5 years from now. Assume the car will cost you $30,000 and your deposits earn you interest at 6% p.a, compounded annually. (a) What is your annual deposit amount? (b) Instead of making annual deposits, you would like to make your deposit monthly and the bank is happy to pay your interest...
The Jones want to save $68,000.00 in 7 years for a down payment on a house....
The Jones want to save $68,000.00 in 7 years for a down payment on a house. If they make monthly deposits in an account paying 4% compounded monthly, what is the size of the payments that are required to meet their goal?
Jenna wants $14,000 saved in 5 years to make a down payment on a house. How...
Jenna wants $14,000 saved in 5 years to make a down payment on a house. How much money should she invest now at 2.85% compounded quarterly in order to meet her goal? Jenna wants $14,000 saved in 5 years to make a down payment on a house. How much money should she invest now at 2.85% compounded quarterly in order to meet her goal?
SHOW ALL WORK Rebecca would like to set up an account to supplement her parents’ retirement...
SHOW ALL WORK Rebecca would like to set up an account to supplement her parents’ retirement income for the next 15 years. (a) If the account earns 7.2 percent compounded monthly, how much will Rebecca have to deposit today so that her parents are paid $150 at the end of each month? (b) How much would she have to deposit if her parents wanted to receive the $150 payment at the beginning of each month?
You want to have $15,000 for a down payment on a house 10 years from now....
You want to have $15,000 for a down payment on a house 10 years from now. If you can earn 13 percent, compounded annually, on your savings, how much do you need to deposit today to reach your goal?
the weidmans want to save $50,000 in 2 years for a down payment on a house....
the weidmans want to save $50,000 in 2 years for a down payment on a house. if they make monthly deposits in an account paying 12%, compounded monthly. what are the size of the payments that are required to meet thier goal? (round to the nearest cent)
if you want to save $50,000 in 5 years for a down payment on a house,...
if you want to save $50,000 in 5 years for a down payment on a house, how much do you need to save each month in order to accumulate this amount? Assume that you will earn 6% annual interest on your investment account.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT