Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

HELP HELP HELP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!ASAP!! Use the following problem to answer questions 1 and 2. Come bought a new flat screen 70 inch television and a speaker

HELP HELP HELP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!ASAP!!image text in transcribed

Use the following problem to answer questions 1 and 2. Come bought a new flat screen 70 inch television and a speaker system from a local electronics store on credit. The store will charge 12% per year compounded monthly.Their monthly payments are $174.80 for 3 years. What is the cash price of her purchase? Identify the type of problem. Future Value with compound interest Present Value with compound interest Present Value of an Annuity Future Value of an Annuity Future Value with simple interest Answer the question in the problem. $4, 881.98 $5, 262.79 $4, 956.80 $3, 762.26 $4, 382.98 Use the following problem to answer questions 3 and 4. Parents would like to have the funds for their child to have an allowance in college for 4 years. They want him to be able to withdraw $300 each month. How much should theydeposit into an account earning 2.35% per year compounded monthly. Identify the type of problem. Future Value with compound interest Present Value with compound interest Future Value of an Annuity Present Value of an Annuity Future Value with simple interest Answer the question in the problem. $13, 742.50 $13, 200.10 $14, 470.19 $12, 850.57 $13, 731.10

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

HSBA Handbook On Ship Finance

Authors: Schinas

2015th Edition

3662434091, 978-3662434093

More Books

Students also viewed these Finance questions

Question

3. Explain the forces that influence how people handle conflict

Answered: 1 week ago