Can someone help me with a quick APR question?
a. use A=P(1+i/c)^(t*c) A = final amount P = principal ( starting amount ) i = interest rate t = time in years c= compound period ( c=12 in this case because its monthly ) A = 700( 1+ .0625/12 )^(1*12) A= 700( 1.005208333)^12 A = 745.03 c. I'll do c first - to figure percent yield subtract the investments for one year then divide by the initial amount. (745.03-700 ) = 45.03 so, 45.03/700 = .0643 or 6.43% b. A = 700( 1+ .0625/12)^(8*12) A = 700(1.005208333)^(96) A = 1152.61 Hope that helps!
Another consumer math question....help please!?
What is the property tax of 1.6% on property assessed at $85,000? What is the sales tax of 5% on a purchase of $7.82? What is the FICA tax (assuming a 7.05% rate) on a weekly paycheck of $407.00?
Another consumer math question can anyone help me..?????
Ginny Jones receives $624 gross salary biweekly. Her income tax rate is 14%. Her group health plan contribution is $4.25 per pay period. She belongs to the company retirement plan, to which she contributes 6% of her earnings. She is also covered under Social Security benefits. Her current contribution is 6.05%. If these items are all her deductions, what is her take-home pay per period? $_________ Ginny gets a $35 raise per pay period. If her health plan is unchanged, how much of the raise will she have to take home? $_______
Another Consumer Math Question?
Josh Paltrow and his wife Susan are buying their first home for $125,000. They’ve been granted a mortgage loan at an annual interest rate of 8.5 percent for 20 years with a $25,000 down payment. Closing costs are 2 percent of the amount of the mortgage loan and will be financed as part of the mortgage. What is the actual amount financed with the mortgage? A) $102,000 B) $120,000 C) $100,000 D) $125,000
Please help with consumer math question?! It's my last problem and I need to pass!?
I'm pretty sure of my answers. a. for 4000: 4000 * .0525/2 = 105 for 2000: 2000 * .06/2 = 60 divide the rate by two because it's semiannual because it is a general rule that when a rate is given it is an annual rate except if it is stated in the problem. b. 105 - 60 = 45 c. the principal of $4000 with an interest rate of 5.25% because it yields a higher interest gain.
Consumer Math APR Homework Questions?
1.a true answer is 195.32 2.c 3.b true amount is 288.59 4.c true amount is 1339.14 5.d 6.b 7.b true amount 3124.76 8.c 9. same question as # 1 10. I'm stuck!? Your net income with just the three stated deductions is only 1416.70 so who really can answer, maybe if it gave a % of, or some other kind of information to help answer.
Which one is correct? “please let me know if you have any question” or ”please let me know if you have any questions”
"Question" is not ungrammatical, but "questions" is much more usual. It's more a matter of logic and courtesy than grammar: "question" presumes/implies that the listener is allowed only one question, which is a bit imperious.
Credit card interest math help?
I need help with these two questions. Thanks You owe $2,154.35 on your Discover credit card that has an interest rate of 9.85% APR. Instead of placing $435.00 into a savings account earning a 2.5% APR, you pay down the principal at the beginning of the month on the credit card. How much interest did you save? You owe $1,534.09 on a Visa credit card that has an interest rate of 15.7% APR. You decide to put $250.00 into a savings account earning a 3.5% APR and another $500.00 toward the credit card at the beginning of the month. What is the difference in interest saved at the end of a full month between this decision and if you had paid the entire $750.00 toward the credit card?