Whatâs the interest rate of a 5-year, annual $4,900 annuity with present value of $19,500? (Round your answer to 2 decimal places.)
Monica has decided that she wants to build enough retirement wealth that, if invested at 9 percent per year, will provide her with $5,100 of monthly income for 25 years. To date, she has saved nothing, but she still has 30 years until she retires.
How much money does she need to contribute per month to reach her goal? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Rachel purchased a $21,000 car three years ago using a 8 percent, 4-year loan. She has decided that she would sell the car now, if she could get a price that would pay off the balance of her loan.
What is the minimum price Rachel would need to receive for her car? (Round the loan payment to the nearest cent, but do not round any other interim calculations. Round your final answer to 2 decimal places.)
Whatâs the interest rate of a 5-year, annual $4,900 annuity with present value of $19,500? (Round your answer to 2 decimal places.)
Monica has decided that she wants to build enough retirement wealth that, if invested at 9 percent per year, will provide her with $5,100 of monthly income for 25 years. To date, she has saved nothing, but she still has 30 years until she retires.
How much money does she need to contribute per month to reach her goal? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Rachel purchased a $21,000 car three years ago using a 8 percent, 4-year loan. She has decided that she would sell the car now, if she could get a price that would pay off the balance of her loan.
What is the minimum price Rachel would need to receive for her car? (Round the loan payment to the nearest cent, but do not round any other interim calculations. Round your final answer to 2 decimal places.)
Related questions
Monica has decided that she wants to build enough retirement wealth that, if invested at 10 percent per year, will provide her with $5,200 of monthly income for 20 years. To date, she has saved nothing, but she still has 25 years until she retires.
| How much money does she need to contribute per month to reach her goal? (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
| Contribute per month | $ |
