Hermine wants to save some money to put towards closing costs for a house. She makes a payment of $100 at the end of each month into an account earning 4.15% APR, compounded monthly. At the end of 15 years, how much will be in the account?

Above we had Hermine who wants to save some money to put towards closing costs for a house. She makes a payment of $100 at the end of each month into an account earning 4.15% APR, compounded monthly. At the end of 15 years, you found how much would be in the account. Now find how much interest was earned.

NOTE: A = P + I, where P, the Principal or Present Value, is the SUM of the monthly payments, or the number of payments * the Regular Payment = n*R, where n =mt. An Annuity is a stream of Regular Payments, R.

Lyudmilla wants to have $18000 to put towards buying a car in 12 years. How much money does she need to deposit into an ordinary annuity each month if the fund grows at a rate of 5.25%? Assume the annuity compounds monthly.

Suppose you begin the month of December with a credit card balance of $1433.92, and the finance charge is computed using the Average Daily Balance method. The APR is 16%. You charge $130 on Dec 9, and make a payment of $325 which is received by the bank on 15 Dec but not credited to your account until the next day, 16 Dec. On 22 Dec you charge $125 for gifts. What is the ending balance for December?

Above you began the month of December with a credit card balance of $1433.92, and the finance charge is computed using the Average Daily Balance method. The APR is 16%. You charge $130 on Dec 9, and make a payment of $325 which is received by the bank on 16 Dec. On 22 Dec you charge $125 for gifts. What is the Average Daily Balance for the month of December that the finance charge is computed with?

Above you began the month of December with a credit card balance of $1433.92, and the finance charge is computed using the Average Daily Balance method. The APR is 16%. You charge $130 on Dec 9, and make a payment of $325 which is received by the bank on 16 Dec. On 22 Dec you charge $125 for gifts. What will be your finance charge for the month of December?

Above you began the month of December with a credit card balance of $1433.92, and the finance charge is computed using the Average Daily Balance method. The APR is 16%. You charge $130 on Dec 9, and make a payment of $325 which is received by the bank on 16 Dec. On 22 Dec you charge $125 for gifts. Above you found the finance charge for the month of December. Now, what is the beginning balance for January?