Question
Part 2) This is a 6 part question, please answer the following... 1: Janet borrows $3800 from a credit card company at 24.5% annually for
Part 2) This is a 6 part question, please answer the following...
1: Janet borrows $3800 from a credit card company at 24.5% annually for 3 years. Determine Janet's monthly payment. Show your work.
2: Natalie invests $4000 in a money market with an annual interest rate of 4.6% compounded weekly. How much money will Natalie have after 5 years?
3: John and Peggy deposited $1000 in a savings account with an annual interest rate of 8.3% compounded semiannually when they got engaged to be married. It took them 2 years to plan their wedding. If they withdraw the money on their wedding day, how much money will Jack and Jill have to take on their honeymoon?
4: John and Peggy deposited $1000 in a savings account with an annual interest rate of 8.3% compounded semiannually when they got engaged to be married. It took them 2 years to plan their wedding. If they withdraw the money on their wedding day, how much money will Jack and Jill have to take on their honeymoon?
A: $1176.62
B: $1236.84
C: $1305.25
D: $1324.15
5: April invests $4169 in a savings account with an annual interest rate of 4.61% compounded 3 times per year. What will the account balance be after 6 years?
6: Determine the amount of interest earned on a $3200 investment if it is invested at 5.25% annual interest compounded for six years. Show work.
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