here i got 4 math question, i need it in 1 hour. thank you!
1.Determine the selling price PV, per $1,000 maturity value, of the bond. HINT [See Example 8.] (Assume twice-yearly interest payments. Round your answer to the nearest cent.)
15-year, 4.45% bond, with a yield of 4.455%
PV = $ _____
2. You take out a 3-year, $9,000 loan at 7% interest with monthly payments. The lender charges you a $100 fee that can be paid off, interest free, in equal monthly installments over the life of the loan. Thinking of the fee as additional interest, what is the actual annual interest rate you will pay? (Round your answer to two decimal places.) _____%
3. Alonzo plans to retire as soon as he has accumulated $250,000 through quarterly payments of $4,000. If Alonzo invests this money at 5.4% interest, compounded quarterly, how long (to the nearest year) until can he retire?______yr
4. You have a $2,000 credit card debt, and you plan to pay it off through monthly payments of $50. If you are being charged 15% interest per year, how long (to the nearest 0.5 years) will it take you to repay your debt?_____yr
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Sep 21, 2019EXPERT
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