Find the amount of the loan

Assignment Help Mathematics
Reference no: EM131189154

1. Mary owes June $800, and wants to pay her off. She decides to borrow the amount from her bank at a discount rate of 12%. If she borrows the money for 10 months, find the amount of the loan she should ask for so that her proceeds are $800?

2. Lydia's aunt Rose left her $4,000. Lydia spent $1,000 on her wardrobe and deposited the rest in an account that pays 8.9% compounded daily. How much money will she have in 5 years?

3. At the end of each month Rita deposits $600 in an account that pays 4% compounded monthly. What will the final amount be in 3 years?

4. The Gomez family bought a house for $250,000. They paid 15% down and amortized the rest at 11.2% over a 30-year period. Find their monthly payment.

5. Mr. Smith is planning to retire in 30 years and would like to have $350,000 then. What monthly payment made at the end of each month to an account that pays 7.5% compounded monthly will achieve his objective?

Reference no: EM131189154

Questions Cloud

Interest on the unpaid balance : A credit card company charges 18% interest on the unpaid balance. If you owed $2000 three months ago and have been delinquent since, how much do you owe?
Financed entirely with equity and the firm has beta : The Chris-Kraft Co. is financed entirely with equity and the firm has a beta of 1.55. The current risk-free rate is 6 percent and the expected market return is 12 percent. What should be the required rate of return on the project? What is the NPV of ..
What is the basicity of h3po4 : 1- [Fe(H2O)6] 3+ is strongly paramagnetic whereas [Fe(CN)6] 3- is weakly paramagnetic. 2-What happens when H3PO3 is heated? 3-What is the basicity of H3PO4?
What kind of corporate-level strategies did news corp pursue : What kind of corporate-level strategies did News Corp. pursue to build its multi business model?
Find the amount of the loan : 1. Mary owes June $800, and wants to pay her off. She decides to borrow the amount from her bank at a discount rate of 12%. If she borrows the money for 10 months, find the amount of the loan she should ask for so that her proceeds are $800?
What is the amount of the annual interest tax shield : The June Bug has a $340,000 bond issue outstanding. These bonds have a coupon rate of 6.25 percent, pay interest semiannually, and sell at 101.2 percent of face value. The tax rate is 35 percent. What is the amount of the annual interest tax shield?
Explain sequence of operation required produce component : Describe work and tool holding devices used in the centre lathe. Figure shown square head bolt, plan and explain the sequence of operation required produce this component
Write any two characteristics of chemisorption : Write any two characteristics of Chemisorption.Why does physisorption decrease with the increase of temperature?
Find the standard deviation of the projects expected NPV : An investment costs $7,000, after tax considerations, and will generate cash flows of $1,500 a year over its life. The capital investment will last for 7, 8, or 9 years, with probabilities of 0.3, 0.4, and 0.3 respectively. Assume the required rate o..

Reviews

Write a Review

Mathematics Questions & Answers

  As there are 450 students in senior class which may be

the officers of a high school senior class are planning to rent buses and vans for a class trip. each bus can transport

  Find the tension necessary for the cables u

Find the tension necessary for the cables U and V to keep the weight in static equilibrium. Cable U has an angle of 36 degrees, and cable V has an angle of 42 degrees.

  What is the probability that the two choose the same number

A student and a professor each choose a number between 1 and 5 (1 and 5 are both possible choices). What is the probability that the two choose the same number?

  What is the length of each side

The perimeter of a square garden is 248 metres. What is the length of each side?

  Describe different variations of the tower of hanoi puzzle

those where disk moves are restricted, and those where disks may have the same size. Include what is known about the number of moves required to solve each variation.

  What is the probability that student passes

What is the probability that student passes?

  Determine fashion plotting

A new fashion in clothes is introduced. It spreads slowly through the population at first but then speeds up as more people become aware of it.

  What percentage of total sales will be spent on delivery

A bottle company estimated 155,000 on delivery cost alone this year, if the total cost estime is 668,000. what percentage of total sales will be spent on delivery.

  At what rate is the area of the square changing

The sides of a square increase in length at a rate of 2 meters / seconds. (a) At what rate is the area of the square changing when the sides are 10 meters long? (b) At what rate is the area of the square changing when the sides are 20 meters long?

  How equivalence classes can be used to define rational no

Describe how equivalence classes can be used to define the rational numbers as classes of pairs of integers and how the basic arithmetic operations on rational numbers can be defined following this approach.

  Clarification of systems of equations

Determine whether the given ordered pair is a solution of the system. Solve each system by substitution method

  Find the average age

the standard deviation of age of passenger train cars is 2 yrs. if the distribution of ages is normal and 10% of the cars are older than 10 years, find the average age.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd