Financial Math Answers

Monthly payments of $50 were deposited at the end of each month for five years. The account earned 6.6% compounded monthly. Determine the balance three years after the last deposit.

imagine that you are planning for retirement. you expect to retire in. 35 years and you think that you can afford to save 500 dolar per month. futuremore, you believe that you can reasonably expect to earn about 8% per year without taking too much risk. how much will you have accumulated at the time that you are retire

Ashlee bought a new car. The total amount she needs to borrow is $20,839. She plans to take out a 3 year loan at an APR of 5.6%. What is her monthly payment? round to the penny.

Koltons monthly payment for his $25,856 car is $615 for 4 years. What is the total interest he will be paying? round to the dollar.

The average daily balance for david’s last credit card statement was $1,166.03, and he had to pay a finance charge. The APR is 20.4%.

what is the finance charge for the month? round to the penny.

Jason works at PetCo Refinery for $12.50 per hour. He also gets overtime pay (time and a half) for all hours over 40 that he works in a week. If he works holidays, he gets double time for the hours in that day, but they are not counted toward overtime. The table below shows the hours that Jason worked in the last two weeks.What would be his gross pay for the two weeks?

Your bank is offering you an APR of 17.6%. What is the monthly percentage rate you will pay if you don’t pay the credit card in full? Round to 2 decimal places.

Nathan has a 5 year loan of $27,160 at 5.6% APR. What is the total interest paid on this loan. (round do the dollar)

Using relevant examples, explain why the position of CEO and that of chairman should not be held by one person in a company (5marks)