olin is due to pay $9000 in five years. If she makes three equal payments, in...

olin is due to pay $9000 in five years. If she makes three equal payments, in 20 months, 30 months, and 5 years from today, what is the size of the equal payments if money is worth 5.16% compounded monthly?

Expert Solution

Colby Messinger answered 1 year ago

A debt of $7000 due today is to be settled by three equal payments due 3...

A debt of $7000 due today is to be settled by three equal payments due 3 months from now, 15 months from now, and 27 months from now. What is the size of the equal payments at 11% compounded annually?

Dan borrowed $19,180. The loan is to be repaid by three equal payments due in 89,...

Dan borrowed $19,180. The loan is to be repaid by three equal payments due in 89, 120, and 291 days from now respectively. Determine the size of the equal payments at an interest rate of 10% with a focal date of today. The size of the equal payments is $___ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

To pay off a loan of $8,900 due in five years, a person will make a...

To pay off a loan of $8,900 due in five years, a person will make a deposit at the end of each year into an account paying 9.3% interest compounded annually. Determine the size of the deposit rounded up to the nearest half-dollar and construct a table that shows the size of each deposit, the amount of interest, and the balance after each payment.

$4,000 is invested at 8%. Equal payments will be received one year and three years from...

$4,000 is invested at 8%. Equal payments will be received one year and three years from now. Determine the size of the payment if the focal date is: A. Now. B. One year hence. C. Three years hence.

In three years you will pay the first of eight annual $100 payments. The current interest...

In three years you will pay the first of eight annual $100 payments. The current interest rate is 14%, but after 5 years (by t=5) the rate will have dropped to 8%. What is the total value of your payments at the end of 10 years? I know the answer is $1092, however, I am struggling in how to split my interest rates. If anyone can give me the steps that would be greatly appreciated.

a loan of 17000 is to be repaid by 4 equal payments due in 2,5,6and 9...

a loan of 17000 is to be repaid by 4 equal payments due in 2,5,6and 9 years respectively. determine the size of the equal payments if the loan was granted at 12% p.a. compounded semi- annually.

What equal payments in 3 years and 5 years would replace payments of $40,000 and $97,500...

What equal payments in 3 years and 5 years would replace payments of $40,000 and $97,500 in 6 years and 9 years, respectively? Assume money can earn 3.66% compounded monthly. Use 9 years as the focal date.

A debtor owing payments of $750 due today, $1,000 due in 2 years, and $1,250 due...

A debtor owing payments of $750 due today, $1,000 due in 2 years, and $1,250 due in 4 years requests a payout figure to settle all three obligations by means of a single economically equivalent payment 18 months from now. What is that amount, if the payee can earn 9.5% compounded semiannually? (Do not round your intermediate calculations and round your final answer to the nearest cent.)

Anita donates a used car to a qualified organization. She bought it3 years ago for $9000....

Anita donates a used car to a qualified organization. She bought it3 years ago for $9000. A used car guide shows the fair market value for this type of car is $6000. However Anita gets a form 1098-C from the organization showing the car was sold for $2900. The vehicle was neither used nor improved by the organization given nor sold to a needy individual. If Anita itemizes her deductions, what amount csn she deduct for her donation?

You are responsible to pay back the following: $400 due today, $500 due in five months,...

You are responsible to pay back the following: $400 due today, $500 due in five months, and $618 due in one year. You are given the option: instead of making the above 3 payments, you can pay the same amount as a single payment 9 months from now. Assuming a 12% per annum (p.a) interest rate, how much will the single payment be?

Question