Question
1. How much money should be invested in an account that earns 3% interest, compounded monthly, in order to have $15,000 in 6 years? (Round
1. How much money should be invested in an account that earns 3% interest, compounded monthly, in order to have $15,000 in 6 years? (Round your answer to two decimal places.)
2. Suppose you obtain a 25-year mortgage loan of $193,000 at an annual interest rate of 8.3%. The annual property tax bill is $969 and the annual fire insurance premium is $495. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.)
3. You buy a $268,000 home with a down payment of 27%. Find the amount of the down payment and the mortgage amount.
down payment | $ |
mortgage | $ |
4. The Blackburn Computer Company has declared an annual dividend of $0.50 per share. The stock is trading at $30 per share. Find the dividend yield. (Round your answer to two decimal places.)
5. Jeffery Wei received a 6-year non-subsidized student loan of $30,000 at an annual interest rate of 5.6%. What are Jeffery's monthly loan payments for this loan after he graduates in 4 years? (Round your answer to the nearest cent.)
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