What interest rate are you being charged

Assignment Help Financial Management

Reference no: EM131566760

1. Future value

If you deposit $6,000 in a bank account that pays 9% interest annually, how much would be in your account after 5 years? Round your answer to the nearest cent.

answer: $______

2. Time to reach a financial goal

You have $39,117.59 in a brokerage account, and you plan to deposit an additional $6,000 at the end of every future year until your account totals $260,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations.

answer: _____ years

3.Effective interest rate

You borrow $250,000; the annual loan payments are $38,075.05 for 30 years. What interest rate are you being charged? Round your answer to two decimal places.

answer: ______%

Reference no: EM131566760

Questions Cloud

Health care market for existing and new products : Explain how branding strategies apply to health care market for existing and new products.

What methods of communication or mass media were used : What methods of communication or mass media were used to spread the message? Discussion Participation Scoring Guide.

Analyze a quality improvement program : This week the Final Project is designed to give you an opportunity to analyze a quality improvement program.

Importance of finding balance : Compose a 2 page paper not including references. Share your perspective on the importance of "finding balance" between the roles

What interest rate are you being charged : You borrow $250,000; the annual loan payments are $38,075.05 for 30 years. What interest rate are you being charged?

Teach readers regarding the dangers of being judgmental : What lessons can you argue the characters from- A Good Man Is Hard to Find

Investing and financing activities : Examine the statement of cash flows for the companies you selected in Week 1 for the most recent year. Address the following concerns:

Analyze the factors and values influencing present-day women : Analyze the factors, conditions, and values influencing present-day women to enroll in women's colleges.

Define the concept of the inflation rate : Suppose that all prices rise at the same proportional rate in a country whose inflation rate is 19% per year. For an item that currently costs P0.

User Account

All Pages