professaseus

5 Questions
0 Answers

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1210

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Credit Card Payments

Today, you borrowed $6,200 on your credit card to purchase some furniture. The interest rate is 14.9 percent, compounded monthly. How long will it take you to pay off this debt assuming that you do not charge anything else and make regular monthly payments read more ..

professaseus May 11, 2016

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2

5895

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Retirement Planning

You are planning to save for retirement over the next 35 years. To do this, you will invest $870 per month in a stock account and $470 per month in a bond account. The return of the stock account is expected to be 10.7 percent, and the bond account will read more ..

professaseus May 11, 2016

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592

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Present Value

You are scheduled to receive annual payments of $10,700 for each of the next 23 years. Your discount rate is 8 percent. What is the difference in the present value if you receive these payments at the beginning of each year rather than at the end of each read more ..

professaseus May 11, 2016

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1370

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Birthday Gift To Self

Today, you turn 23. Your birthday wish is that you will be a millionaire by your 40th birthday. In an attempt to reach this goal, you decide to save $75 a day, every day, until you turn 40. You open an investment account and deposit your first $75 today. read more ..

professaseus May 11, 2016

0

842

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Lump Sum Savings

The Great Giant Corp. has a management contract with its newly hired president. The contract requires a lump sum payment of $24,300,000 be paid to the president upon the completion of her first 8 years of service. The company wants to set aside an equal read more ..

professaseus May 10, 2016