1. A bank is offering 4.9% APR mortgages. If you take out an
installment debt morgage in the amount of $370000,which requires
monthly payments for
16years, how much will your monthly payment be? (Rounded to the nearest 10 cents.)
2. At 9.4% APR, what is the value 27years from today, of $2786 per year for 15years (first payment one year from today)? (Rounded to the nearest 10 cents.)
3. A bank is offering an installment debt $190000 mortgage that requires payments of $1163.69 per month for 30 years. What APR interest rate is the bank offering? (In percent with 1 decimal.)
nothing%
4. The interest rate is 0.38% per month. Suppose you borrow $18483 for college expenses today. What will be your payments per month if you will repay the loan with
51 equal monthly payments, with your first payment being made 45 months from today? (Rounded to the nearest 10 cents.)
5. At 6.7% APR, how much would you need to invest today so that can receive $1215 per year forever, if you want to get your first payment 10
years from today? (Rounded to the nearest 10 cents.)
6. At 6.5% APR, what is the present value of $2263 per year forever, if the first payment will be received16
years from today? (Rounded to the nearest 10 cents.)
7. At 5.1% APR, how much would you need to invest to receive $3563 per year forever, with the first payment one year from today?
8. At 10.9% APR, what is the present value of $3054 per year to be received in each of years18 through 40?
16years, how much will your monthly payment be? (Rounded to the nearest 10 cents.)
2. At 9.4% APR, what is the value 27years from today, of $2786 per year for 15years (first payment one year from today)? (Rounded to the nearest 10 cents.)
3. A bank is offering an installment debt $190000 mortgage that requires payments of $1163.69 per month for 30 years. What APR interest rate is the bank offering? (In percent with 1 decimal.)
nothing%
4. The interest rate is 0.38% per month. Suppose you borrow $18483 for college expenses today. What will be your payments per month if you will repay the loan with
51 equal monthly payments, with your first payment being made 45 months from today? (Rounded to the nearest 10 cents.)
5. At 6.7% APR, how much would you need to invest today so that can receive $1215 per year forever, if you want to get your first payment 10
years from today? (Rounded to the nearest 10 cents.)
6. At 6.5% APR, what is the present value of $2263 per year forever, if the first payment will be received16
years from today? (Rounded to the nearest 10 cents.)
7. At 5.1% APR, how much would you need to invest to receive $3563 per year forever, with the first payment one year from today?
8. At 10.9% APR, what is the present value of $3054 per year to be received in each of years18 through 40?
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