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Find the amount of an annuity that consists of 24 monthly payments of $700 each into an account that pays 8% interest per year, compounded monthly. NOTE: please round your answer to the nearest dollar. Choose your answer from the following: 1234567891011121314151617181920 2122232425262728293031323334353637383940 41424344454647484950 1.$18,153 2.$221,593,610 3.$1,405 4.$1,815

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How much money should be invested every quarter at 6% per year, compounded quarterly, in order to have $6,000 in 2 years? NOTE: please round your answer to the nearest dollar. Choose your answer from the following: 1234567891011121314151617181920 2122232425262728293031323334353637383940 41424344454647484950 1.$712 2.$2,978 3.$963 4.$284,602

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A 30-year-old man deposits $50,000 to fund an annuity with an insurance company. The money will be invested at 7% per year, compounded semiannually. He is to draw semiannual payments until he reaches age 60. What is the amount of each payment? NOTE: please round your answer to the nearest dollar. Choose your answer from the following: 1234567891011121314151617181920 2122232425262728293031323334353637383940 41424344454647484950 1.2,004 2.1,553 3.197 4.2,719

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A couple can afford to make a monthly mortgage payment of $550. If the mortgage rate is 9% and the couple intends to secure a 35-year mortgage, how much can they borrow? NOTE: please round your answer to the nearest dollar. Choose your answer from the following: 1234567891011121314151617181920 2122232425262728293031323334353637383940 41424344454647484950 1.$70,154 2.$71,388 3.$67,987 4.$56,698

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John buys a stereo system for $870. He agrees to pay $39 per month for 2 years. Assuming that interest is compounded monthly, what interest rate is he paying? Note: To solve this task use graphical indicator. Choose your answer from the following: 1234567891011121314151617181920 2122232425262728293031323334353637383940 41424344454647484950 1.8% 2.13% 3.4% 4.14%

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An item at a department store is priced at $100 and can be bought by making 16 payments of $7. Find the interest rate, assuming that interest is compounded monthly. Choose your answer from the following: 1234567891011121314151617181920 2122232425262728293031323334353637383940 41424344454647484950 1.13% 2.18% 3.9% 4.19%

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