question archive You want to buy a $31,000 car
You want to buy a $31,000 car
Subject:MathPrice:16.89 Bought3
You want to buy a $31,000 car. The company is offering a 2% interest rate for 36 months (3 years). What will your monthly payments be? $ You have $400,000 saved for retirement. Your account earns 8% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 20 years? $ Suppose you want to have $700,000 for retirement in 35 years. Your account earns 4% interest. a) How much would you need to deposit in the account each month? b) How much interest will you earn? $ You deposit $2000 in an account earning 3% interest compounded monthly. How much will you have in the account in 5 years? $ You have agreed to loan some money to a friend at a simple interest rate of 108% per year. Your friend hasn't taken this class; all they know is that they can pay you back $500 in 5 weeks. How much money do you give your friend today so that the repayment of $500 in 5 weeks is equivalent to a simple interest loan with a rate of 108% per year? Round your answer to the nearest dollar. Submit Question
