Financial Math Answers

Mary Beth Jones is saving for her retirement fund. She wants to have $550,000 in 25 years when she turns 75. She expects the APR to be 2.6% compounded weekly.
a) How much should she deposit each week?

1) Isaac borrowed $7000 at 15.5% compounded quarterly 4.5 years ago. One year ago he made a payment of $1800. What amount will extinguish the loan today? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

2) A $4500 loan at 15.25% compounded monthly is to be repaid by three equal payments due 2, 8, and 10 months after the date of the loan. Calculate the size of each payment. (Do not round intermediate calculations and round your final answer to 2 decimal places.)


3) What single payment six months from now would be economically equivalent to payments of $650 due (but not paid) four months ago, and $950 due in 12 months? Assume money can earn 3.7% compounded monthly. (Round your intermediate calculations and final answer to the nearest cent.)

Ryan buys some jumpers to sell on a stall.
He spends £180 buying 40 jumpers.
He sells 60% of the jumpers for £7 each.
He then puts the rest of the jumpers on a Buy one get one half price offer.
He manages to sell half the remaining jumpers using this offer.
How much profit does Ryan make?

Hi
May I know how to do the Business rate.
For 2014 were charged at a rate 0f 36000 per annum. For 2005 the rates have increased to 45000 per annum.
In both years, the annual charge is payable in 9 equal monthly instalments, from 1/4/2015
What amount is for 2014 opening and what amount is for 2015 closing.

In the next 10 months Colin wants to save $900 for his vacation. He plans to save $75 each of the first 8 months. How much must he save each of the last 2 months in order to meet his goal if he saves the same amount each month?

which factor is important to consider when building an emergency fund?

Felix Madison has $10,000 worth of property damage insurance and a $1000 deductible collision insurance policy. He had a tire blowout while driving and crashed into a $1,400 fire hydrant. The crashed caused $1,600 in damages to his car.

A. Which insurance covers the damage to the fire hydrant

B. How much will the insurance company pay for the fire hydrant?

C. Which insurance covers the damage to the car?

D. How much will the insurance company pay for the damage to the car?

leslie has comprehensive insurance with a 500$ deductible on her van. On Halloween her van is vandalized, and the damages total $1,700. Leslie submits her claim to her insurance company.

A. How much does Leslie pay for the car?

B. How much does the insurance pay?

I am investing in stocks for a friend and myself. My friend bought 334 shares at $.17 a share. I later bought 2040 shares at $.30 a share. When the stock goes up, how do I fairly distribute the earnings between me and my friend?

Calculate the compound interest on a term deposit of $30,000 at the rate of 6% annually for 3 years when the investment is compounded: a) annually. b) semi-annually. c) quarterly. d) monthly. e) daily.