ashlynnwest
New member
- Joined
- Mar 24, 2014
- Messages
- 1
So, our teacher doesn't explain anything. She tells us the chapter title, and to do the work. That's all. So I'm having a lot of trouble, and I'm not finding any of my answers are matching up with the choices we have to choose from.. If anyone can help me with any of these questions it would be very helpfull!
2) A trust fund will pay you $1200 per month for life once you turn 18. You are currently 9. Interest rates are expected to be 4.12% compounded quarterly. What is the current value of your trust fund?
A) $244344.29
B) $253344.29
C) $243344.29
D) $244444.29
E) $233344.29
3) You have to wait for 3.25 years before starting to save for the purchase of a new car. You want to save towards the purchase of $30500 car plus GST (USE 7% GST). Your savings rate is 5.88% compounded semi-annually and you want to be able to buy this car in 4 years after the deferral period. What is the size of your quarterly deposits?
A) $1285.60
B) $1852.60
C) $1825.60
D) $1885.60
E) $1258.60
4) Starting in 5 years you want to be able to withdraw $6220 every six months for 7.5 years. You want to deposit a single amount immediately and then let it grow at a rate of 4.88% compounded quarterly. How much do you have deposit?
A) $62116.62
B) $61216.62
C) $62226.62
D) $62216.62
E) $61126.62
5) A trust fund will start to pay you $15200 per year at the start of each year once you turn 18. The prevailing interest rate is 8.79% compounded annually. For how long can you receive payments if you are celebrating your 14th birthday today and the current value of your trust fund is $111345?
A) 20.97 years
B) 24.97 years
C) 20.07 years
D) 29.07 years
E) 29.77 years
9) What is the size of the final unequal payment of a loan for $2723.44 and it has quarterly payments of $500? The interest rate is 8.4% compounded quarterly.
A)$424.14
B)$432.14
C)$441.14
D) $423.14
E) $414.14
10) What deposit made at the beginning of each month will accumulate to $36 000.00 at 5% compounded quarterly at the end of eight years?
A) $560.87
B) $238.44
C) $304.76
D) $156.99
E) $890.33
So much thanks if you can help, (either tell me where to start, or formulas, or show how you got the answer, or anything! I'm desprerete at this point)!
2) A trust fund will pay you $1200 per month for life once you turn 18. You are currently 9. Interest rates are expected to be 4.12% compounded quarterly. What is the current value of your trust fund?
A) $244344.29
B) $253344.29
C) $243344.29
D) $244444.29
E) $233344.29
3) You have to wait for 3.25 years before starting to save for the purchase of a new car. You want to save towards the purchase of $30500 car plus GST (USE 7% GST). Your savings rate is 5.88% compounded semi-annually and you want to be able to buy this car in 4 years after the deferral period. What is the size of your quarterly deposits?
A) $1285.60
B) $1852.60
C) $1825.60
D) $1885.60
E) $1258.60
4) Starting in 5 years you want to be able to withdraw $6220 every six months for 7.5 years. You want to deposit a single amount immediately and then let it grow at a rate of 4.88% compounded quarterly. How much do you have deposit?
A) $62116.62
B) $61216.62
C) $62226.62
D) $62216.62
E) $61126.62
5) A trust fund will start to pay you $15200 per year at the start of each year once you turn 18. The prevailing interest rate is 8.79% compounded annually. For how long can you receive payments if you are celebrating your 14th birthday today and the current value of your trust fund is $111345?
A) 20.97 years
B) 24.97 years
C) 20.07 years
D) 29.07 years
E) 29.77 years
9) What is the size of the final unequal payment of a loan for $2723.44 and it has quarterly payments of $500? The interest rate is 8.4% compounded quarterly.
A)$424.14
B)$432.14
C)$441.14
D) $423.14
E) $414.14
10) What deposit made at the beginning of each month will accumulate to $36 000.00 at 5% compounded quarterly at the end of eight years?
A) $560.87
B) $238.44
C) $304.76
D) $156.99
E) $890.33
So much thanks if you can help, (either tell me where to start, or formulas, or show how you got the answer, or anything! I'm desprerete at this point)!
