Answer the following compound interest questions:

1. Brian purchased a new bedroom set for his wife's birthday present. The cost of the bedroom set was $1,999 with no payments for six months. However, at the end of six months Brian owes the price of the bedroom set, plus 12% annual interest, compounded monthly. How much interest will Brian pay on his wife's birthday present?

2. Tim put $35,000 in a five-year CD paying 5.75% annual interest, compounded quarterly. What is the total amount Tim will receive when he withdraws his money after five years?

3. Andrew wants to pay off his car. He has a two-year loan at 9% annual interest that is compounded monthly. Andrew must pay $18,700 at the end of the two-year period. How much did Andrew originally borrow?

Please solve each of the following problems showing precision to five decimal places:

1. What is the nominal rate of an investment that returns 9%?

2. What is the periodic rate for a 10% loan compounded monthly?

3. What is the effective rate for each monthly payment of an auto loan when the loan is issued at 13% compounded weekly? (Assume 4.333 weeks per month.)

4. You have decided to start saving for retirement and are making quarterly payments into an account that earns 4.25% with monthly compounding. What effective interest rate is your money earning per quarter?

A construction firm can achieve a $ 20,000 cost savings in Year 1 and it is expected to increase by $ 3,000 each year for the next 5 years by upgrading some equipment. At an interest rate of 12% what is the equivalent annual worth of the savings? The value is closest to? a. $ 21,500 Ob. $ 28,500 O c. $ 26,500 O d. $ 31,500old Question 59 of 75. Travis operates a consulting business. He uses his personal credit card for both business and personal uses. The total finance charges paid for the year were $957. Travis' total business charges on this card were 41% of all charges. What amount of interest expenses can be deducted on Travis' Schedule C? O $957 O $565 $392 10 Mark for follow upX InQuizitive: Chapter 26: The Aggregate Demand-Aggregate Supply Model e Page 847 26.4. How does the aggregate demand-aggregate supply model help us understand the economy? Que supply model? Which of these are conditions for long-run equilibrium in the aggregate demand-aggregate YOU C Correct Answer(s) Long-run aggregate supply equals aggregate Curr demand. You mutt ana Short-run aggregate supply equals aggregate demand. Question H 9 M acerHow might a budget deficit affect the balance of trade? O A budget deficit raises interest rates, which raises exchange rates and increases the balance of trade. O A budget deficit raises interest rates, which raises exchange rates and reduces the balance of trade. O A budget deficit reduces interest rates, which raises exchange rates and reduces the balance of trade. A budget deficit reduces interest rates, which reduces exchange rates and reduces the balance of trade.How might a budget deficit affect the balance of trade? O A budget deficit raises interest rates, which raises exchange rates and increases the balance of trade. O A budget deficit raises interest rates, which raises exchange rates and reduces the balance of trade. O A budget deficit reduces interest rates, which raises exchange rates and reduces the balance of trade. A budget deficit reduces interest rates, which reduces exchange rates and reduces the balance of trade