25 apr with monthly pa yme nts how muc h will the ja

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Unformatted text preview: ' first monthly pa yme nt be ? Yo ur Ans wer Sco re Ex p lanatio n 1 0 .0 0 Corre c t. You know how to do a PMT c a lc ula tion. 1630 1487 1590 800 Tota l 1 0 .0 0 / 1 0 .0 0 Ques tio n Ex p lanatio n This pa yme nt is a simple PMT c a lc ula tion; the a mount ha s to be more tha n $800 pe r month. Why? https://c la ss.c our se r a .or g/intr of ina nc e - 005/quiz /f e e dba c k? submission_id= 92142 4/8 16/2/2014 Quiz Fe e dba c k | Cour se r a Question 7 (15 points) Ba a ko ha s inve ste d $75,000 in a trust fund a t 9% for his c hild's c olle ge e duc a tion. His c hild will dra w $30,000 pe r ye a r for four ye a rs, sta rting a t the e nd of ye a r 7. Wha t will be the a mount tha t will be le ft ove r in the e duc a tion fund a t the e nd of ye a r 10 (just a fte r the c hild ha s withdra wn the fourth time )?(E nte r just the numbe r without the $ sign or a c omma ; round off de c ima ls.) Yo u entered : 40358 Yo ur Ans wer 40358 Sco re Ex p lanatio n 1 5 .0 0 Corre c t. You know how to unde rsta nd a nd a na lyze re a l world proble ms w...
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This test prep was uploaded on 04/06/2014 for the course FINANCE 101 taught by Professor Deck during the Spring '12 term at Michigan State University.

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