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What would be the sum of all the payments made (i.e., total $s paid over the 30 years, ignoring time value) on the following
What would be the sum of all the payments made (i.e., total $s paid over the 30 years, ignoring time value) on the following house mortgage? Loan amount is $191,000 with an interest rate of 7.2% per annum, term of 30 years, and monthly payments. (Round to nearest penny and enter, for example, as 123456.78) Answer: An insurance company is offering quarterly payments of $440 for the next 8 years in exchange for a one-time payment of $10,000 today. What is the per annum rate of return on this offer? (Round to nearest 100th of a percent and enter your answer as a percentage, for example, as 12.34) Answer: Jack and Jill need to save $7400 toward a new car. How long will it take them if they save $310 a month earning an annual interest of 5.9% (compounded monthly)? (Treat as an ordinary annuity.) (State your answer in years rounded to the second decimal place, e.g., 12.34) Answer: How much must we invest at the end of each month to build a balance of $190,000 over 15 years if we earn 7% per annum (compounded monthly)? (Round to nearest penny and enter, for example, as 123456.78) Answer:
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