Question

# a.$1249269.76

b.$752086.50

c.$752634.42

d.$1248392.56

2.Annie opens a savings

account and makes a single deposit of $4000. The account has an annual interest rate of 2.3% compounded weekly. How much will be in the account 8 years later?

a.$4808.06

b.$4807.22

c.$4807.87

d.none of the above

Alia’s parents deposited $100 into a bank account at the end of each month since she was born. The account has an annual interest rate of 1.8% compounded monthly. How much was in the account on Alia’s 18th birthday?

a.$21988.80

b.$24355.91

c.$23084.68

d.$25487.45

The Smith’s purchase a home for $400000 and make a 20% down payment. They finance the remainder with the bank under the following conditions: payments are to be made at the end of each month, and the loan has an annual interest rate of 3.2% compounded monthly. If the mortgage has a term of 25 years, how much is the monthly payment?

a.$1583.01

b.$1550..97

c.$1621.46

d.none of the above

Math