Question
In: Finance
You're prepared to make monthly payments of $380, beginning at the end of this month, into...
|
You're prepared to make monthly payments of $380, beginning at the end of this month, into an account that pays 8 percent interest compounded monthly. |
|
How many payments will you have made when your account balance
reaches $22,992? |
Multiple Choice
-
56.1
-
45.9
-
51
-
22.93
-
4.4
Solutions
Expert Solution
correct answer is 51 months
in the above formula 1 indicates payment
at the begining of the month
jeff jeffy answered 2 years agoRelated Solutions
You're prepared to make monthly payments of $390, beginning at the end of this month, into...
You're prepared to
make monthly payments of $390, beginning at the end of this month,
into an account that pays 5 percent interest compounded
monthly.
Required:
How many payments will
you have made when your account balance reaches $25,528?
(Do not round your intermediate calculations.)
You're prepared to make monthly payments of $340, beginning at the end of this month, into...
You're prepared to make monthly payments of $340, beginning at
the end of this month, into an account that pays 6 percent interest
compounded monthly. How many payments will you have made when your
account balance reaches $20,575?
You're prepared to make monthly payments of $320, beginning atthe end of this month, into...
You're prepared to make monthly payments of $320, beginning at
the end of this month, into an account that pays 9 percent interest
compounded monthly. How many payments will you have made when your
account balance reaches $20,260?
You're prepared to make monthly payment of $240, beginning at the end of this month, into...
You're prepared to make monthly payment of $240, beginning at
the end of this month, into an account that pays 10 percent
interest compounded monthly. How many payments will you have made
when your account balance reaches, $35,000?
You’re prepared to make monthly payments of $270, beginning at the end of this month, into...
You’re prepared to make monthly payments of $270, beginning at
the end of this month, into an account that pays 6.8 percent
interest compounded monthly.
How many payments will you have made when your account balance
reaches $18,000? (Do not round intermediate calculations
and round your answer to 2 decimal places, e.g.,
32.16.)
Monthly information is as follows: Beginning of month End of month
Monthly information is as
follows:
Beginning of month End
of month
Work in
process Inventory:
1,000 units 4,000
units
Conversion: degree of completion in WIP
60%
40%
Direct
Material Costs in Beginning WIP
$ 8,100
?
Conversion Costs in Beginning
WIP
$11,300
?
During the month: Costs incurred
for Direct Materials
$27,975
Costs incurred for Conversion
$27,235
At month
end:
2,860 good units were completed, 140 units...
Monthly information is as follows: Beginning of month End of month
Monthly information is as
follows:
Beginning of month End
of month
Work in
process Inventory:
1,000 units 4,000
units
Conversion: degree of completion in WIP
60%
40%
Direct
Material Costs in Beginning WIP
$ 8,100
?
Conversion Costs in Beginning
WIP
$11,300
?
During the month: Costs incurred
for Direct Materials
$27,975
Costs incurred for Conversion
$27,235
At month
end:
2,860 good units were...
1. Larry can make monthly payments of $ 221.00 a month to buy a truck. If...
1. Larry can make monthly payments of $ 221.00 a month to buy a
truck. If the dealer offers a 4 year, 3.0% interest loan, about
what is the most expensive truck can Larry buy?
2. You have $200,000 in your retirement account. You want to
withdraw $13,000 a year for 30 years. How much must your retirement
account earn for you to obtain your goal?
3. The discount rate is 5.46%. What is the most you would pay
for...
You decided to borrow $20,000and make payments at the end of each month for 10years. The...
You decided to borrow $20,000and make payments at the end of
each month for 10years. The maximum monthly payment you can afford
is $1000. What is the maximum interest rate you can afford(keep two
decimal places)? What is the maximum interest rate you can afford
if you are making payments at the beginning of each month for 10
years (keep two decimal places)?
Amortize a 30-year, $120,000 loan with end-of-month payments. The APR is 12%. What is the monthly...
Amortize a 30-year, $120,000 loan with end-of-month payments.
The APR is 12%. What is the monthly payment? What are the interest
and repayment portions of the payment in month 12? What is the
ending balance after one year (month 12)?
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- UNIX ONLY -- DIFFICULT LAB ASSIGNMENT This is an extremely difficult subject for me. Could you...
- Do you know why your credit card can be refused even though you are profitable?
- The Following Java expression: S/10 * 10 + 10 – S = C Show that this...
- Year Cash Flow 0 −$9,700 1 5,800 2 2,500 3 3,400 &nb
- In a two – story building, an exterior column is to be designed for a service...
- Explain the use of neural networking modeling in predictive analytics. Discuss a real-life example of where...
- Boarder line and antisocial disorder are perhaps the most research personality disorder.What are the most common...
ADVERTISEMENT