Reference no: EM132429486

Questions - Can you please help me with a couple of questions?

1. $1200 for two 4 years at 4.2% compounded annually, $800 for 5 years at 4% compounded monthly. Find the compound amount on the given original principal at the compound interest rate.

2. If you deposit $6800 into an account paying 5% annual interest compounded quarterly, how much will be in the account after 10 years if you make no withdrawals?

3. Suppose you are depositing an amount today in an account that earns 6% interest, compounded annually. If you goal is to have $5000 in the account at the end of the 5 years, how much must you deposit in the account today?

4. What is the monthly payment for a 10 year loan paid monthly for 10 years where the amount of the loan is $80,000 and the annual percentage rate is 3.5%? Please round your answer to the nearest tens place.

5. Use the following information and then hit calculate: Current loan amount: $200,000, term in years: 30, Interest rate: 4.25%, State: Pa, no additional payment amount or type, Start payment: May, 2018, what is the total mortgage payment?

6. What is the monthly payment?

7. What is the amount of total interest paid?

8. Approximately, when will the majority of your payment go towards principal and not interest?

9. Now, put in an additional payment of $100 per month and recalculate.

10. Now, change the term to 15 years without additional payments and recalculate.

11. Now, change the term to 15 years with an additional payment of $100 per month.