Financial Math Answers

This year (10 years after you first took out the loan), you check your loan balance. Only part of your payments have been going to pay down the loan; the rest has been going towards interest. You see that you still have $126,323 left to pay on your loan. Your house is now valued at $200,000. How much of the original loan have you paid off?

at age 21 Julio begin saving $800 each year until age 35 in an ordinary annuity paying 5.3% annual interest compounded yearly and then leaves his money in the account until age 35. His friend max begins at age 41 saving $1600 per year in the same type of account until age 65. How much does each have in their account at age 65

3600 dollars is placed in an account with an annual interest rate of 9%. How much will be in the account after 25 years, to the nearest cent?

2. A company purchased machinery that cost 510,000. It is estimated that the machine will be operated for 100,000 hours over its useful life and have a residual value of 10,000.

Required:

A) what is the rate of depreciation per hour?

B) journalize the entry for annual depreciation if the machine had been operated for 22,000 hours?

1. Purchased equipment for 70,000.this equipment has a five year life and an 8000 residual value.calculate depreciation for each of the five years using the declining balance method at twice the straight line rate?

A bank pays interest continuously at the rate of 6%. How long does it take for a deposit of Q0 to grow in value to 2Q0

William bought shares 20.3. and sold them 6.6. in the same year. The purchase price was 473 € and the selling price 639 €. What is the annual interest rate for the investment after the 30 % tax is paid from the sales profit?

Jennifer deposits 15.3. 6148 € in an account with an annual interest rate of 1.76 %. At the end of that year, Jennifer withdraws her deposit (including the capital and acrrued interest). Her friend Janet wants to withdraw from her own account at the same time exatcly the same amount of money (including the capital and acrrued interest) as Jennifer. Janet makes her deposit 20.7. and the interest rate of her account is 2.1 % annually. The tax at source rate is 30 %. What is the amount of Janet's deposit?

Alice deposits 1788 € for 3 months in a bank account which has an annual interest rate of 2.4 % (p.a.). Calculate the net accrued interest when the tax at source rate is 30 %.

Joan lent 47331 € to Thomas and charged 468.4 € interest for the loan. The interest rate was 1.85 % (p.a.). How long was the loan period in calendar days?