Mr.Samuel wants to get $10 millions in the future by saving $4 millions from now. By data, bank with an interest rate of 21% per year. How many years is the money must be saved in a bank?
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- How much should you put into 6% saving account in order to have 100,000 in five years?If you invest $ 500 on Lending Circle at a rate of 5% for 1.5 years, how much will you have earned?Mary takes out a loan for $1000 at a simple interest rate of 5% for a period of 3 years. Calculate the total amount that Mary must pay back at the end of the loan period. Round your answer to two decimal places
- Dan is considering borrowing $500,000 to purchase a new condo. Based on that information, answer the following questions. Show all work. Calculate the monthly payment needed to amortize an 8% fixed-rate 30-year mortgage loan. Calculate the monthly amortization payment if the loan in (a.) was for 15 years instead.Today you deposited $10,000 in a savings account paying 7% annual interest. How much should you have at the end of five years?What is the U.S 6 month interest rate?
- Fred takes out a loan for $1300 at an interest rate of 5% for a period of 5 years. Calculate the total amount that Fred must pay back at the end of the loan period. Round your answer to two decimal placesIf you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal annual payments. How much of the total amount repaid is interest? How much of the third annual payment is interest, and how much principal is there? If you decided to pay off your loan after the third payment, how much will you pay?Karen and Sophia want to buy a $225,000 home. They plan to pay 20% as a down payment, and take out a 30 year loan at 3.95% interest for the balance. a) How much is the loan amount going to be? b) What will the monthly payment be for Karen and Sophia? c) How much of the first payment is interest? d) What is the total of the payments? e) How much interest was paid?
- Bobby was desperate. He borrowed $600 from a pawn shop and understood he was to repay the loan starting next month with $100, increasing by $10 per month for a total of 8 months. Actually, he misunderstood. The repayments increased by 10% each month after starting next month at $100. Use a spreadsheet to calculate the monthly interest rate that he thought he was to pay, and what he actually will pay.URGENT! PLEASE WRITE LEGIBLE. Question Suppose we deposit $1500 into an account that pays a simple interest rate of0.5% each month. Find the amount of interest earned at the end of 3 years?Mr. Mallari borrowed P200, 000. The terms of the loan are 10% interest for 10 years with uniform payments. He just made his third annual payment. How much principal does he still owe?