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Need help on group review please! NAME MATH 130Y-Fins ace Review (GROUP woRK) Edwin and Frances are buyinga new home. The purchase price is$155,000. They
Need help on group review please! NAME MATH 130Y-Fins ace Review (GROUP woRK) Edwin and Frances are buyinga new home. The purchase price is$155,000. They will make a l0% down payment on the house. Their loan for the house is a 30 year conventional loan at 5.75% per year compounded monthly. Find their monthly payment i. Sergio wants to have S5,000 in the bank in 3 years to pay for an Alaskan cruise. How much cash should he deposit today, if the bank pays 3% annual interest con pounded quarterly, if he want to be sure to have the funds available in 3 years? 2. 3. Anna wants to have $5,000 saved when she graduates from college so that she will have a down payment for a new car. Her credit union pays 4% annual interest compounded month, How much money should she deposit each month to have the money available when she graduates in 3 years? 4. Gary decided to save some money for his daughter's college education. He decided to save $300 per quarter. His credit union pays 45% per year compounded quarterly. How much money will he have available when his daughter starts college in 10 years? A lending company recently offered 36 applicants with good credit ratings. If you have a good credit rating and can afford monthly payments of $350, how much can you borrow from the company now? 5. auto loans at 75% per year compounded monthly to on Grace decides to start a savings program when she gets her first job after graduation. She deposits $3,500 into her credit union savings account. The credit union pays 3.6% annual interest compounded quarterly. How much money will she have in the account after 4 years? 6. Z Hov much will be due on 1000 loan at 37, simple in terest after 9 months? '8 Huw lung wa lithte $ sooo ti double at 7.st. compounded Continuous/. 9. Find the APY fur 67 compounded monthly
Need help on group review please!
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