math finance questions - present/future values

[yugiohplusmathequalsswag]

bob borrows $175,000, and has an 5% annual interest
if he pays this in 60 payments, how much is his monthly payment???


harry puts 500$ into his bank account 8 percent at the end of each year
how much at the end of 25 years???

 

[Deleted member 4993]

bob borrows $175,000, and has an 5% annual interest
if he pays this in 60 payments, how much is his monthly payment???


harry puts 500$ into his bank account 8 percent at the end of each year
how much at the end of 25 years???

What are your thoughts?

Please share your work with us ...even if you know it is wrong

If you are stuck at the beginning tell us and we'll start with the definitions.

You need to read the rules of this forum. Please read the post titled "Read before Posting" at the following URL:

http://www.freemathhelp.com/forum/th...Before-Posting

 

[yugiohplusmathequalsswag]

What are your thoughts?

Please share your work with us ...even if you know it is wrong

If you are stuck at the beginning tell us and we'll start with the definitions.

You need to read the rules of this forum. Please read the post titled "Read before Posting" at the following URL:

http://www.freemathhelp.com/forum/th...Before-Posting

could you pls solve with work? just need quick help

 

[Deleted member 4993]

could you pls solve with work? just need quick help

First you solve - we watch.

If you are stuck at any step - we help (not solve for you).

 

[stapel]

I have edited the exercises to correct formatting, etc. But they were framed so poorly that confusion remains. (This is part of why you saw, in the "Read Before Posting" that you read before posting, that you were supposed to show your work so far. When we can see what you've tried, this provides us with additional information which, in this particular case, is very much needed.)

1. Bob borrows $175,000 at 5% annual interest. If he pays this back in 60 equal payments, how will be the amount of his monthly payment?

Is the interest simple or compounded? What formula or algorithm did they give you for this? How far have you gotten in applying this information? Where are you stuck?

2. Harry puts $500 into his bank account which awards interest at 8 percent at the end of each year. How much will he have at the end of 25 years?

Is the deposit made at the end of each year? Is the interest awarded at the end of each year? Both?

When you reply, please include a clear listing of your efforts so far. Thank you!