menu
Sign up

You Owe $4510 Due in 7 Months

Question 118
Multiple Choice

You owe $4510 due in 7 months.In addition you owe $3780 due in 13 months and $5125 due in 21 months.You are paying 8.64% compounded monthly on your loan.What single amount three months from now will pay off the entire loan of the three future payments? A)$12 440.86 B)$12 040.86 C)$12 404.86 D)$12 444.86 E)$12 884.86

Related questions
Q 119
You lend a friend $800 and they agree to make quarterly payments for 1 year.You charge your friend 8.52% compounded quarterly.What is the size of the payments? A)$120.76 B)$210.76 C)$220.76 D)$200.76 E)$212.76
Q 120
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. A)$1573.84 B)$1754.02 C)$1735.84 D)$1784.35 E)$1788.02
Q 121
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? A)$30 574.35 B)$30 457.35 C)$30 754.35 D)$30 475.34 E)$33 354.35
logo
© 2020-2021 Cozyplus FZ LLC. All rights reserved