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need these done asap huge upvotes from all my accounts to anyone who answeres A student takes out a loan of $1,700 at the beginning
need these done asap huge upvotes from all my accounts to anyone who answeres
A student takes out a loan of $1,700 at the beginning of each semester (semi-annually) for 7 semesters to pay for college. The loan charges 7.6% interest compounded semiannually. The student graduates after the 7 semesters and refinances the Ioan to a lower 6.9% rate compounded monthly with monthly payments (made at the end of each month) for 120 months. Find the monthly payment and the total interest paid. The monthly payment is $ (Round to the nearest cent as needed.) The total amount of interest paid is. \$ (Round to the nearest cent as needed.) A new employee charged $4710 on his credit card to relocate for his first job. After noticing that the interest rate for his balance was 27% compounded monthly, he stopped charging on that account. He wishes to pay off his balance, $4710, in 3 years using automatic payments sent at the end of each month. a. What monthly payment must he make to pay off the account at the end of 3 years? b. How much total interest will he have paid? a. What monthly payment must he make to pay off the account at the end of 3 years? $ (Round to the nearest cent as needed.) b. How much total interest will he have paid? $ (Round to the nearest cent as needed.) Hank made payments of $239 per month at the end of each month for 30 years to purchase a piece of property. He promptly sold it for $213,889. What interest rate, compounded monthly, would he need to earn on an ordinary annuity for a comparable rate of return? % (Round to the nearest hundredth as needed.) To save for retirement, Karla Harby put $800 each month into an ordinary annuity for 12 years. Interest was compounded monthly. At the end of the 12 years, the annuity was worth $166,655. What annual interest rate did she receive? The interest rate she received was approximately %. (Round to two decimal places as needed.)Step by Step Solution
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