1. A)Derek borrows $349,987.00 to buy a house. He has a 30-year mortgage with a rate of 4.79%. After making 150.00 payme
Posted: Thu Apr 28, 2022 1:55 pm
1.
A)Derek borrows $349,987.00 to buy a house. He has a 30-year
mortgage with a rate of 4.79%. After making 150.00 payments, how
much does he owe on the mortgage?
B) Derek will deposit $3,341.00 per year for 16.00 years
into an account that earns 7.00%, The first deposit is made next
year. How much will be in the account 36.00 years from today?
C)Suppose you deposit $1,020.00 into an account 9.00 years from
today into an account that earns 8.00%. How much will the account
be worth 18.00 years from today?
D)Suppose you need to have $59,869.00 in an account 25.00 years
from today and that the account pays 9.00%. How much do you have to
deposit into the account 5.00 years from today?
Answer
format: Currency: Round to 2 decimal places.
A)Derek borrows $349,987.00 to buy a house. He has a 30-year
mortgage with a rate of 4.79%. After making 150.00 payments, how
much does he owe on the mortgage?
B) Derek will deposit $3,341.00 per year for 16.00 years
into an account that earns 7.00%, The first deposit is made next
year. How much will be in the account 36.00 years from today?
C)Suppose you deposit $1,020.00 into an account 9.00 years from
today into an account that earns 8.00%. How much will the account
be worth 18.00 years from today?
D)Suppose you need to have $59,869.00 in an account 25.00 years
from today and that the account pays 9.00%. How much do you have to
deposit into the account 5.00 years from today?
Answer
format: Currency: Round to 2 decimal places.