Question 17

You just deposited $5,500 in an account. You plan on depositing $350 at the end of every month for the next 8 years. How much will you have if the account pays a monthly interest rate of 0.5%?

Your Answer:

Answer

Question 18 (1 point)

How long will it take to pay a credit card with a current balance of $3500 and monthly rate of 0.45%, if you made the minimum monthly payment of $42? ID92791,846

Your Answer:

Answer

Question 19

An Investment costs $3400 and promises $325 every year for the next 23 years. What is the periodic interest rate of this loan? Answer in decimal form using 5 figures (e.g. 10.23% = 0.10234). ID0176,635