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Author Question: You will need three amounts of $14 200 in each year for four years in order to go to school. You are ... (Read 167 times)

asd123

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Question 1

You borrow $4750 at a rate of 6.72% compounded monthly. You make a partial payment of $1400 in 3 months. You also agree to make two equal payments 3 and 5 months after the partial payment. What is the size of the equal payments? Use a focal date of 8 months.
◦ $1788.02
◦ $1784.35
◦ $1754.02
◦ $1735.84
◦ $1573.84

Question 2

You will need three amounts of $14 200 in each year for four years in order to go to school. You are planning on going to school starting in 5 years and ending in 8 years (years 5, 6, 7, 8). You are able to earn 9.64% compounded quarterly. How much money do you have to have today in order to be able to go to school?
◦ $33 354.35
◦ $30 574.35
◦ $30 475.34
◦ $30 457.35
◦ $30 754.35


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Marked as best answer by asd123 on Jun 6, 2019

tjayeee

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