The Savoias bought an investment property valued at $160 000.00 by paying 25% down
and mortgaging the balance over 25 years through equal monthly payments at 6%
compounded monthly. What was the size of the monthly payments?
Suppose $726.56 is deposited at the end of every six months into an account earning 6.45%
annually. If the balance in the account four years after the last deposit
is to be $31 300.00, how many deposits are needed?
Calculate the accumulated value after ten years of payments of $1000.00 made at the end
of each month if interest is 4% compounded semi
Conchita Martinez saves $17.25 at the end of each month and deposits the money in an
account, paying 4.96% compounded quarterly.
a) How much will she accumulate in 22 years?
b) How much of the accumulated amount is interest?
A loan of $40 000.00 is to be repaid by equal quarterly payments for 5 years. What is the
size of each semi
annual payment if the interest is 5.00% compounded annually?
Kelsey bought a car priced at $19 700.00 for 10% down and equal monthly payments for
4.5 years. If interest is 8.22% compounded semi
annually, what is the size of the monthly
A loan was repaid in 6.5 years by quarterly payments of $515.00 at 9.85% compounded
annually. What is the value of the loan?
A $360 000.00 mortgage is amortized by making monthly payments of $2600. If interest is
7.5% compounded semi
annually, what is the term of the mortgage?
Sabrina deposits $300.00 into a savings account at the end of each month for five years. If
the accumulated value of the deposits is $20 000.00 and interest is compounded
annually, calculate the nominal rate of interest
If a student loan was repaid by monthly payments of $800.00 in 5.0 years at 8.00%
compounded yearly, how much interest was paid?
year mortgage is amortized by payments of $1761.50 made at the end of each month.
If interest is 9.65% compounded semi
annually, what is the mortgage principal?
Calculate the present value of payments of $100.00 made at the beginning of each quarter
for ten years if the interest is 6% compounded quarterly.
annual payment must be made into a fund at the beginning of every six
months to accumulate to $4800.00 in ten years at 7% compounded semi