1. A debt of 57000 is to be amortised with equal semiannual payments. The interest rate is compounded semana, what is the side of each payment? (Round your answer to the nearest cent.) 2 A recent graduate's student toare total $15,000. these toa ** *4.3%, compounded quarters, for years, what are the quarterly payments? (Round your answer to the nearest cent.) $ 3. A homeowner planning a kitchen remodeling can afford a $500 monthly payment. How much can the homeowner borrow for 5 years *3%.compounded monthly, and still stay within the budget? (Round your answer to the nearest cent.) 4. When or conta bought a car wars We like to pay of the learty. How much will we owe just after her payment at the market (Round your awer to the nearest cone) 5. The problem describes a debt to be amortized (Round your answers to the nearest Cert.) A man buys a house for $340,000. He makes a $150.000 down payment and amortises the rest of the purchase price with smal payments over the next years. The interest rate on the debt is 125, compounded semiannually (a) Find the size of each payment. (b) Find the total amount paid for the purchase (c) Find the total interest paid over the life of the loan. 6. A couple purchasing a home budget $2,000 per month for their ton payment. they have $27,000 valable for down payment and are considering a 25-year toan, how much can they spend on the home at each of the following rates? (Round your answers to the nearest cent.) (a) 6.3% compounded monthly (6) 8.14 compounded monthly A personal account earmarked as a retirement supplement contains $342,400. Suppose $300,000 is used to establish an annuity that earns 8%, compounded quarterly, and pays $6500 at the end of each quarter. How long will it be until the account balance is $07 (Round your answer UP to the nearest quarter.) quarters Suppose a state lottery prize of $7 million is to be paid In 25 payments of $280,000 each at the end of each of the next 25 years. If money is worth 11%, compounded annually, what is the present value of the prize? (Round your answer to the nearest cent.) $ With a present value of $120,000, what is the size of the withdrawals that can be made at the end of each quarter for the next 10 years if money is worth 7.2%, compounded quarterly? (Round your answer to the nearest cent.) An insurance settlement of $2.5 million must replace Trixie Eden's income for the next 45 years. What Income will this settlement provide at the end of each month if it is invested in an annuity that earns 7.8%, compounded monthly? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) $ As the contestant with the longest winning streak in the history of Jeopardy, Ken Jennings won more than $2.5 million. Suppose he invested $1.2 million in an ordinary annuity that earned 9.6%, compounded monthly. How much would he receive at the end of each month for the next 15 years? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) $ Juanita Domingo's parents want to establish a college trust for her. They want to make 16 quarterly withdrawals of $2000, with the first withdrawal 3 months from now. If money is worth 6.4%, compounded quarterly, how much must be deposited now to provide for this trust? (a) Decide whether the problem relates to an ordinary annuity or an annuity due. ordinary annuity O annuity due (b) Solve the problem. (Round your answer to the nearest cent.) $
