Allan borrowed $6,300 from his father to buy a car. He paid her after 9 months with an interest of 11% per annum. Calculate the total amount he paid.

Find the compound interest earned. Round to the nearest cent.

 $14,000 at 5% compounded annually for 3 years

Provide an appropriate response. Round to answer two decimal places.

An investment company pays 7% compounded quarterly. What is the effective rate?

Solve the problem. Round to the nearest cent as necessary.

 The average cost of a 4-year college education is projected to be $130,000 in 16 years. How much money would have to be invested now at 6.5%, compounded quarterly, to get $130,000 in 16 years?

Solve the problem. Round to the nearest cent as necessary.

Sandra deposits $3,000 into an ordinary annuity at the end of each semiannual period at 4% interest compounded semiannually. She finds the amount she will have on deposit after 25 years.

Find the future value of the ordinary annuity. Interest is capitalized annually unless otherwise indicated.

 PMT = $7,500, i = 7% interest compounded semi-annually for 5 years

Find the monthly home payment needed to repay the following loan. Round your answer to the nearest cent.

 To buy a house, a family borrows $267,000 at 10.8% for 15 years. What is your monthly payment?

Answer rating: 100% (QA)

1 Since Allan paid back after 9 months with an annual interest of 11 we would calculate the interest ... View the full answer