Question
4) How much interest do you end up paying if you make 45.214 payments of $60? How much interest do you end up paying if
4) How much interest do you end up paying if you make 45.214 payments of $60? How much interest do you end up paying if you make 23.6285 payments of $100 instead?
5) . You owe $10,000 on your car and your interest rate is 4.32% per year. If you make payments of $200 per month, how many payments do you have left? round to 4 decimals.
6) . Your mother has asked for your help. She would like to save up $30,000 to take your family on a trip in 3 years. She wants to make monthly deposits into an account that she thinks will pay 6%. How much must she invest each month to reach her goal?
7) You are excited to start investing and have found an ETF that you hope will continue to earn an interest rate of 10% per year. You plan to make bi-weekly deposits of $50 and you will make your first deposit today. How much will you have in 5 years?
8) A stock pays an annual dividend of $4 and has a required return of 9%. How much should you be willing to pay today?
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