5 answers

9.5 points Astudent borrows $53,100 at 4.8% compounded monthly Find the total amount of interest paid over a 15 year

Question:

9.5 points Astudent borrows $53,100 at 4.8% compounded monthly Find the total amount of interest paid over a 15 year period. $212.40 5414.40 574,592.00 521,492.00


Answers

Compound Interest In Exercises $89-92$ , complete the table by determining the balance,
A for $P$ dollars invested at rate $r$ for $t$ years and compounded $n$ times per year.
$$\begin{aligned} P &=\$ 4000 \\ r &=4 \% \\ t &=15 \text { years } \end{aligned}$$

.

So remember that if we're calm pounding continuously, we have the equation A is equal to to our principal interest times e a constant value. Times are times t and so our interest rate times time. So what we have to do is plugging these values now. So we know that our are a is equal to, let's say, 12 50 times e to the power of our interest rate, which is 0.54 time six. And so if we plug this into our calculator, we get 12 50 times e to the power of 0.54 times six.

So this gives us this gives us A is equal to a is equal to 17 $28.31..

Potentially the future value of an ordinary annuity with periodic contributions of $12,000 into an interest rate account of 4.8 percent for 16 years, Get a piece of information given is that the interest is compounded quarterly. Um, so if its quarterly, that means that's happened four times per year. So our end value and 7 16 is gonna be compounded 64 times in the interest rate and said being 4.8% I'm gonna divide that. But for cause being compounded four times a year, just be 1.2% or 0.12 I guess our formula for the future value, uh, is our values. 12,000 times are one plus our interest rates of 1.12 to the 64th power minus one old about of our interest rate of 0.12 Yes, that's gonna be 12,000 times.

I'm gonna do that desk on the calculator. So 1.12 to the 64th power I divided by 0.12 the 95.46 and some change. We want to keep that change because we're going to multiply about 12,000. So keep that never in your calculator. Multiple.

About 12,000. Give us over a $1,000,000. So one million, 145,000 6 19 Ah, and 96 cents rounded to the nearest set. OK, so that's our total amount. Because problem also wanted to know how much we have from contributions.

So that's just gonna be 12,000. And we contributed 64 times. So 12,000 times 64 $768,000. So it's settled from contributions, is there? And so our interest would just be the difference between our contributions and our total eso. I'm just going to subtract this to number.

So back to the calculator to the total from interest was $377,000 um, 619 and 96 cents. There's our interest. There's our total contributions. And there's our total value. The ordinary annuity.

Thank you very much..

This is this problem once is to find the future value. No, but anybody dio So we have our, um, contribution of $750 deposited at the beginning of each pay period. So we have an interest rate at 5.9%. That's compounded monthly S O R. Interest rate.

I don't know if that's gonna come out nice. Eso Let's just do 0.59 to bed about 12 and then our end is we're gonna go for 15 years. And since it's compounded monthly, we're gonna dio 12 times 15 for our number of periods, So we're gonna have 180 periods. Okay? So, to calculate, our total future value, however, is gonna use our formula. I have 750 from our value.

We're gonna do that. I value plus one to the 180th power. Then subtract one called about it by the I, Valium, and then subtract one again to subtract out that final payment. Okay, so I'm gonna put all that in our calculator. Okay? So 0.59 plus one and then 180th power.

About about the interests of the 0.59 about about 12 and then subtract one. And we're gonna get to 87 and some change. So you should get something close to 287 0.35 And in some change, I'm multiplying that through our total the 215,000 514 on and 78 cents. OK, so that's our total. Um So our amount from contributions were gonna do 180 contributions at $750 apiece, And so we multiply those two.

So I have 1 80 times 7 50 So we are the contributions make up 135,000 of it. Okay, so there's our contributions. Step means our interest has to be the difference. So, really, that 2 15 number A minus the 35,000. It's our contributions from our interests won't say contributions.

Our interest in this case is gonna be 80,000 $514.78. Okay. And there you have it. Thank you very much..

Okay, so we have to find the compound amount, which has the falling for more. Okay, so we have that are comfortable, is given to be 1000 and our rate is 4.5% which is 0.0 for five arthritis. Actually, we have a principle of $430 and every 5.4% at 0.4 and we're compounding the semi annually. So that's two times every years that are m value it too. So that's two to devour origin of our two times T, which is 12 years.

So now let's put that into are calculated only gets on amounts of $890.82..

Similar Solved Questions

1 answer
Instructions: Quite often, I have heard many people say that "a managers job is simply to...
Instructions: Quite often, I have heard many people say that "a managers job is simply to tell people what to do." I sometimes wonder if that is true! Hey, I just thought of a great idea. Instead of just wondering if that statement has any validity to it, let's just ask a manager. Your t...
5 answers
Of Humian Male and Female Reproductive Syslems Table 14.41 Comparison Male FemaleGonudDut Irom GonudDuct innt Fonud Icat WuCopulmory Oifun
of Humian Male and Female Reproductive Syslems Table 14.41 Comparison Male Female Gonud Dut Irom Gonud Duct innt Fonud Icat Wu Copulmory Oifun...
5 answers
5: (13 points) Modulo 25 Note the letter 2 is nol incluckex].B C DM N 12 13P Q R 5 T U W X 15 16 17 18 19 20 21 22 23 2410EncryptionStep 1: Break into blocks o size 2. COIert to col vectorsInod 25Step 2: Convert each v to Mv + N where15 10 20MadStep 3: Decode back to letters (not blocks) .Eucrypt OV ERb) Fiud M- mnod 25 , then explain the decryption method.Decrypt GPDF
5: (13 points) Modulo 25 Note the letter 2 is nol incluckex]. B C D M N 12 13 P Q R 5 T U W X 15 16 17 18 19 20 21 22 23 24 10 Encryption Step 1: Break into blocks o size 2. COIert to col vectors Inod 25 Step 2: Convert each v to Mv + N where 15 10 20 M ad Step 3: Decode back to letters (not blocks)...
1 answer
Hey guys please give me the answers quickly I need it so quick I will give...
Hey guys please give me the answers quickly I need it so quick I will give you a good rate thank you The decomposition of an aldehyde solution in carbon tetrachloride is a first order reaction with a rate constant of 1.20 x 10"min". If we start with (aldehyde) = 0.0500 molar, what will t...
1 answer
PLEASE ANSWER ALL IN JAVa how does adding a new element to a heap work? describe...
PLEASE ANSWER ALL IN JAVa how does adding a new element to a heap work? describe the algorithm in detail...
1 answer
A pine cone falls straight down from a pine tree growing on a 27 ∘ slope....
A pine cone falls straight down from a pine tree growing on a 27 ∘ slope. The pine cone hits the ground with a speed of 12 m/s . What is the component of the pine cone's impact velocity parallel to the ground? What is the component of the pine cone's impact velocity perpendicular to th...
5 answers
Evaluate the given expressions. $$81^{1 / 4}$$
Evaluate the given expressions. $$81^{1 / 4}$$...
1 answer
Watts and Lyon are forming a partnership. Watts invests $36,000 and Lyon invests $54,000. The partners...
Watts and Lyon are forming a partnership. Watts invests $36,000 and Lyon invests $54,000. The partners agree that Watts will work one-fourth of the total time devoted to the partnership and Lyon will work three-fourths. They have discussed the following alternative plans for sharing income and loss:...
1 answer
Suppose that the time required to complete a 1040R tax form is normally distributed with a...
Suppose that the time required to complete a 1040R tax form is normally distributed with a mean of 100 minutes and a standard deviation of 10 minutes. What proportion of 1040R tax forms will be completed in more than 102 minutes? Round your answer to at least four decimal places X...
5 answers
DMctkCUs ldeled |loweves, Jeducua Ihct EXE#by $1 pur box Acompact disk marilatturer cheges $100 lor each box DOxen CDs Ihut should be scld Inaxiiio fvcnijn WiLat ($ Ihe Tovenlo ! 100 boxes pelarmil Il numocDrcnboresbrottanTmmeemio[otinuldouesCDs shoudbutok
DMctk CUs ldeled |loweves, Jeducua Ihct EXE#by $1 pur box Acompact disk marilatturer cheges $100 lor each box DOxen CDs Ihut should be scld Inaxiiio fvcnijn WiLat ($ Ihe Tovenlo ! 100 boxes pelarmil Il numoc Drcn boresbrottan Tmmeemio[otinul doues CDs shoudbutok...
1 answer
Consbints I Periodic Table Part A A 2.4-cm-tall object is 28 cm to the left of...
Consbints I Periodic Table Part A A 2.4-cm-tall object is 28 cm to the left of a lens with a focal length of 14 cm. A second lens with a focal length of 27 cm is 46 cm to the right of the first lens. Calculate the distance between the final image and the second lens. Express your answer to two signi...
5 answers
Find the surface area of 2 = 12 + y2 bounded by z =1UploadChoose a File
Find the surface area of 2 = 12 + y2 bounded by z =1 Upload Choose a File...
1 answer
What are the three greatest challenges of managing a global workforce? Why? How do you see...
What are the three greatest challenges of managing a global workforce? Why? How do you see diversity contributing to your current or future role in health care administration? In a health care setting, how would you create a culturally competent workforce? Finally, how would you ensure that no group...
1 answer
EXEM fication Classify each of the following costs relative to the cost obiect patient" for a...
EXEM fication Classify each of the following costs relative to the cost obiect patient" for a medi- F15-1B. Cost Classifi cal office: Product or Period Variable, Fixed, or Mixed Director Indirect . .. . Nurse salaries.. Receptionist salary Depreciation on exam room computers . . . . . Health ins...
1 answer
(3 points) Randomly selected students were given five seconds to estimate the value of a product...
(3 points) Randomly selected students were given five seconds to estimate the value of a product of numbers with the results shown below. Estimates from students given 1 x 2 X 3 X 4 X 5 X 6 X 7 X 8: 500, 42200, 4000, 856, 5000, 10000, 800, 6000, 50, 200 Estimates from students given 8 x 7 x 6 x 5 x ...
5 answers
Sunset Lake is stocked with 2400 rainbow trout and after year the population has grown to 7000. Assuming logistic growth with a carrying capacity of 24000, find the growth constant k , and determine when the population will increase to 12800.The population will increase to 12800 after ~years_yr-1
Sunset Lake is stocked with 2400 rainbow trout and after year the population has grown to 7000. Assuming logistic growth with a carrying capacity of 24000, find the growth constant k , and determine when the population will increase to 12800. The population will increase to 12800 after ~ years_ yr-1...
5 answers
4ianiktal ditribution vector isABCXo - CSNBCenat share of the audlence wIIl each netxrork command the long run? (Round Your answers t0 one decimal place ) ABC CaS NBc
4ianiktal ditribution vector is ABC Xo - CS NBC enat share of the audlence wIIl each netxrork command the long run? (Round Your answers t0 one decimal place ) ABC CaS NBc...
5 answers
DDT, a well known insecticide, has Ihe molecular formula C,HsCls with M, = 354.48 U. How many H-atoms are there in DDT that have the same nurber ol moles as the number of sodium sulphite moles that have 2.65*10* sodium atoms? USE CONVERSION FACTORS ONLY.
DDT, a well known insecticide, has Ihe molecular formula C,HsCls with M, = 354.48 U. How many H-atoms are there in DDT that have the same nurber ol moles as the number of sodium sulphite moles that have 2.65*10* sodium atoms? USE CONVERSION FACTORS ONLY....
1 answer
4. Let Xi, . . . , xn be a random sample from the inverse Gaussian...
4. Let Xi, . . . , xn be a random sample from the inverse Gaussian distribution, IG(μ, λ), whose pdf is: (a) Show that the MLE of μ and λ are μ-X and (b) It is known that n)/λ ~X2-1. Use this to derive a 100 . (1-a)% CI for λ....
1 answer
The left superscript of the atomic term symbol for molecular oxygen (Table 11.1 ) shows that $2 S+1=3$, so that the total spin quantum number $S=1 .$ Calculate the magnetic susceptibility $\chi_{\text {mag }}$ of $\mathrm{O}_{2}(\mathrm{g})$ at $200 \mathrm{K}$ and $1000 \mathrm{K}$ at 1 bar.
The left superscript of the atomic term symbol for molecular oxygen (Table 11.1 ) shows that $2 S+1=3$, so that the total spin quantum number $S=1 .$ Calculate the magnetic susceptibility $\chi_{\text {mag }}$ of $\mathrm{O}_{2}(\mathrm{g})$ at $200 \mathrm{K}$ and $1000 \mathrm{K}$ at 1 bar....
5 answers
Now consider the kinetic energy_zero? Explan positive_ negative, 4. Is AK (the change in kinetic energy) for the cart YOuI answer,negative, Or zero? Explan your answer_ Is AK for the masspiece positive,
Now consider the kinetic energy_ zero? Explan positive_ negative, 4. Is AK (the change in kinetic energy) for the cart YOuI answer, negative, Or zero? Explan your answer_ Is AK for the masspiece positive,...
5 answers
1. Let fl) =Vs-: a) Show that f is one-to-one b) find f-1 and state the domain & range of f-1 c)Calculate (f-1)' (1) using two different approch ( using the Theorm and part (b) d) Sketch the graphs of f and f-1 n the same axes
1. Let fl) =Vs-: a) Show that f is one-to-one b) find f-1 and state the domain & range of f-1 c)Calculate (f-1)' (1) using two different approch ( using the Theorm and part (b) d) Sketch the graphs of f and f-1 n the same axes...
5 answers
Ay1 1222 3225 783 3342 Joules Joules Joules 3 The cube upeaficeae heat ead heated 88 from 9 ?How much energy 1
ay1 1222 3225 783 3342 Joules Joules Joules 3 The cube upeaficeae heat ead heated 88 from 9 ? How much energy 1...
1 answer
Suppose that v is a nonzero vector in R3, and suppose A is a 3 x...
Suppose that v is a nonzero vector in R3, and suppose A is a 3 x 3 matrix with distinct real eigenvalues 1<A2<A3. Suppose that |A"v (the length of the vector A"v) converges to 0 as n0o. Find all possible values of A...
5 answers
-/1 POINTSSULLIVANCALC2 5.4.069.Find the average value of the function over the given interval: sin X over 0, 2]eBook~1 POINTSSULLIVANCALC2 5.4.074-Find the average value of the function over the given interval: Sx + 2 COS X over 2]eBook
-/1 POINTS SULLIVANCALC2 5.4.069. Find the average value of the function over the given interval: sin X over 0, 2] eBook ~1 POINTS SULLIVANCALC2 5.4.074- Find the average value of the function over the given interval: Sx + 2 COS X over 2] eBook...
5 answers
Ttps: tamu blackboard.com /webapps/assessment/take/launch jspzcourMoving to another question will save this responseQuestionGiven the following;PersonTime 18 19 16.5 17 18Score 33What is the deviation for X = 16.5?Moving another question will save this response.pdf
ttps: tamu blackboard.com /webapps/assessment/take/launch jspzcour Moving to another question will save this response Question Given the following; Person Time 18 19 16.5 17 18 Score 3 3 What is the deviation for X = 16.5? Moving another question will save this response. pdf...
5 answers
3. Prove the absorption laws:An(AU B) = A; (ii) AU(AnB) = A:4 Prove by contradiction Or otherwise that AnB = AnC and AUB = AUC if and only if B= C.
3. Prove the absorption laws: An(AU B) = A; (ii) AU(AnB) = A: 4 Prove by contradiction Or otherwise that AnB = AnC and AUB = AUC if and only if B= C....
1 answer
From this Punnette square, what proportion of the offspring have a phenotype that is DIFFERENT from...
From this Punnette square, what proportion of the offspring have a phenotype that is DIFFERENT from the phenotype of either parent? a. 3/16 b. 6/16 c. 7/16 d. 9/16 e. 1/16 re ТВ Tb тв TTBB ТТвь TIBB TIeb е тТВЫ Тbb &...
1 answer
How do you solve the following system?: # 4x +y =12 , 6x +5y = -2#
How do you solve the following system?: # 4x +y =12 , 6x +5y = -2#...
1 answer
Description of the healthcare system of one of the other (not developed) countries that examined in...
description of the healthcare system of one of the other (not developed) countries that examined in detail. Include a concise evaluation of the effectiveness of this country in balancing the goals of access-quality-cost. choose any two country below: Mexico, Brazil,Russia, Turkey, Israel, Nigeria, ...
5 answers
41 points SCalcET8017.Mi:Evaluate the integral: (Use C for the constant of integration:)e88 sin(90) d0Need Help? Read ItaWalchltMatter hohlo Fnna
41 points SCalcET8 017.Mi: Evaluate the integral: (Use C for the constant of integration:) e88 sin(90) d0 Need Help? Read Ita Walchlt Matter h ohlo Fnna...
1 answer
I am most affected by the social error/bias "One of Us /One of them how can...
I am most affected by the social error/bias "One of Us /One of them how can I overcome it...
1 answer
We were unable to transcribe this imageLEARN MORE REMARKS When we take up vectors in two...
We were unable to transcribe this imageLEARN MORE REMARKS When we take up vectors in two dimensions later in the book, we will routinely use a similar process to find the direction and magnitude of a given vector from its components, or, conversely, to find the components from the vector's magni...
5 answers
HW7: Problem 6Previous ProblemProblem ListNext Problempoint) Ify = Cnxx" n=0is a solution of the differential equationy" + (-2x + I)y + 3y = 0then its coefficients Cn are related by the equationCn+2Cn+]Cn
HW7: Problem 6 Previous Problem Problem List Next Problem point) If y = Cnxx" n=0 is a solution of the differential equation y" + (-2x + I)y + 3y = 0 then its coefficients Cn are related by the equation Cn+2 Cn+] Cn...

-- 0.024382--