Question
Suppose you plan to save $1,322 semi-annually ( meaning twice a year ) over the next 5 years. If you found a bank which will
Suppose you plan to save $1,322 semi-annually (meaning twice a year) over the next 5 years. If you found a bank which will give you 8% APR, how much would you have in 5 years. (Round the answer two decimal point)
Suppose Aysha has $2,798 and she is worried that she will not have enough money by the time she plans to get married in 8 years. If she would need $11,934 for her wedding what interest rate should you be shopping around for? (Round the answer two decimal point)
Suppose Taylor has $1,247 in her bank account and her goal is to have $4,583. If her bank gives her 11% APR, how long would it take her to reach her goal? (Round the answer two decimal point)
Suppose you are looking for a loan to buy a barn. If you can afford a payment of $263 per month and want to pay the loan off over the next 6 years, how much can you borrow, if the bank will charge you an interest rate of 6% APR? (Round your answer to two decimal point)'
Suppose you won $4,400 per year for the next 9 years on a game show. You decided not to wait that long to get your money so, you go to your bank to see whether you can cash it in right now. If your bank offers you a discount rate of 6% APR, how much would you get from your bank? (Work out the problem on separate sheet of paper before entering the answer.) (Round the answer two decimal point)
Suppose Omar plans to buy a cash car in 5 years. If he has $908 and his goal is to save up $5,578 in 5 years then what interest rate should he be shopping around for? (Round the answer two decimal point)
Suppose you won a law suit settlement of $2,718 per year for the next 5 years. If the going interest rate is 4% APR then how much is your settlement worth now? (Work out the problem on separate sheet of paper before entering the answer.) (Round the answer two decimal point)
Suppose you want to start a business. If you can afford a payment of $156 per month and want to pay the loan off over the next 7 years, how much can you borrow now if the bank will charge you an annual percentage rate of 5% APR? (Round your answer to two decimal point)
It is Alanzo's dream bike costs $3,185 but unfortunately he only has $1,288 in his account. If his bank gives 8% APR on his deposit, how long will he has to wait to have enough money to buy his dream bike? (Round the answer two decimal point)
Suppose you want to buy a car today. If you can afford a payment of $211 per month and want to pay the loan off over the next 4 years. Assuming no down payment is required, how much can you borrow if the bank will charge you an annual percentage rate of 6% APR? (Round your answer to two decimal point)
Suppose you want to buy a vacant lot to build your home for $15,378. If your bank is willing to loan you the money at a 5% APR over the next 10 years how much would be your monthly payment? (Work out the problem on separate sheet of paper before entering the answer.)
Suppose Tamera plans to reward herself with a vacation in Costa Rica for all the hard work she has been putting in. The vacation will cost her $3,101. If she has $1,229 in her account and her bank gives her 5% APR on her deposit, how long would she have to wait to go on her dream vacation? (Round the answer two decimal point)
Suppose you have been saving for the last 2 years to buy a 80" TV. If you have been depositing $58 per month in a bank account which gives 9% APR. How much do you now have in your bank account? (Work out the problem on separate sheet of paper before entering the answer.) (Round the answer two decimal point)
Suppose you plan to save $141 per month over the next 3 years. If you found a bank which will give you 5% APR, how much would you have in 3 years. (Round the answer two decimal point)
Suppose you want $3,122 in your bank account in 2 years. If your bank offers you 7% APR interest, how much would you have to deposit now to reach your goal? (Round the answer two decimal point)
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