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What is the monthly interest rate? How much will Susan pay each month for 45 months? What effective interest rate is being charged?
What is the monthly payment? If a loan origination fee of 2% is charged at the time of the loan, what is the effective interest rate?
How much interest will he owe in the first month's payment? If he makes monthly payments of $225, how long until it is paid off?
The robot costs $75,000 installed and will have a salvage value of $5000 after 10 years. Should Eddie recommend that purchase of the robot?
What uniform amount can he withdraw from the account for 25 years beginning one year after his last deposit?
What will be the present worth of the fund after 35 years if it earns 5% per year?
What should the contractor do? Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri, Georgia Institute of Technology
A 25-year-old engineer is opening an individual retirement account (IRA) at a bank. Assuming end-of-year deposits, how much should she deposit the first year?
The football coach at a midwestern university was given a 5-year employment contract that paid $225,000 the first year. How much will the coach receive?
If Jill's salary increases at an 8% uniform rate and she continues to invest 5% of it year, what amount of money is she guaranteed to have at end of 20 years?
How much will the investments be worth at the end of 6 years if they increase in the stock market at a 10% annual rate?
Energy savings are estimated at $400 for first year, then increasing by 6% annually. If interest rate is 10%, what is the present value of the energy savings?
Derive an equation to find the end-of-year future sum F that is equivalent to a series of n beginningof-year payments B at interest rate i.
Then for 4 years she held the stock. At the end of the 4 years she sold all the stock for $28,000. What interest rate did she obtain on her investment.
The first payment is due 30 days after the $10,000 is received. What interest rate per month are they charging?
What was the amount of the equal annual end-of-year payments for each of the last 3 years?
How many months are required to repay the debt? If your answer includes a fraction of a month, round up to the next month.
How much did the mother have to deposit each year in the escrow account for the son to draw $8000 per year for 4 years beginning January 1, 2012?
How much of the mortgage will still be owed after the payment due on August 31, 2018, has been made?
If there are no penalty charges for this early payment of the loan, how much will the car cost the new buyer?
A company buys a machine for $12,000, which it agrees to pay for in five equal annual payments, beginning one year after. What is the final single payment?
If interest on the unpaid balance is computed at 11/2% per month, how many payments will there be, and what is the amount of the final payment?
What uniform annual investment will he have to make on the girl's 8th through 17th birthdays?
What was Jerrys monthly loan payment? What must he have paid (in addition to his regular 120th monthly payment) to pay the remaining balance of his loan?
How much would you need to set aside when you bought a new car to pay all future maintenance costs if you planned to keep the vehicle for 7 years?