Find the monthly payment, amount paid, and interest charged for a $90,000 mortgage loan at an annual interest rate of 10% for 20 years.

To make CDs look more attractive than they really are, some banks advertise that their rates are higher than their competitors’ rates; however, the fine print says that the rate is a simple interest rate. If a person deposits $10,000 at 10% per year simple interest, what compound interest rate would yield the same amount of money in 3 years?

A $4000 certificate of deposit is purchased for$4000 and is held for eleven years. If the certificate earns an effective rate of 7%, what is it worth at the end of that period?

For the following exercises, determine the value of the annuity for the indicated monthly deposit amount, the number of deposits, and the interest rate. Deposit amount: $100; total deposits: 120; interest rate: 10%, compounded semi-annually

Find the price a purchaser should be willing to pay for the given bond. Assume that the coupon interest is paid twice a year.

$25,000 bond with coupon rate 7% that matures in 10 years; current interest rate is 6%.

Suppose that $10,000 is invested at continuous rate r and grows to$17,160 in 9 years. Find the interest rate r.

A company issued bonds with a $100,000 face value, a 5-year term, a stated rate of 6%, and a market rate of 7%. Interest is paid annually. What is the amount of interest the bondholders will receive at the end of the year?

Determine the cost of the points and the new interest rate for each loan amount and interest rate. Assume each point costs 1% of the loan amount. $400,000, original APR 4.1%, 1 point with a 0.2% discount.

A sum of $1000 was invested for 4 years, and the interest was compounded semiannually. If this sum amounted to$1435.77 in the given time, what was the interest rate?

To what sum will $2000 amount in eight years if invested at a 6% effective rate for the first four years and at 6% compounded semiannually thereafter?

A loan of $\$ 10,000$ was repaid at the end of $6$ months. What amount (principal and interest) was repaid, if a $6.5 \%$ annual rate of interest was charged?

The monthly payment that amortizes a loan of A dollars in t years when the interest rate is r/year compounded monthly, is given by $P=f(A, r, t)=\frac{A r}{12\left[1-\left(1+\frac{r}{12}\right)^{-12 t}\right]}$ a. What is the monthly payment for a home mortgage of $300,000 that will be amortized over 30 years with an interest rate of 4%/year? An interest rate of 6%/year? b. Find the monthly payment for a home mortgage of$300,000 that will be amortized over 20 years with an interest rate of 6%/year.

Use the compound interest formula, $A(t)=P\left(1+\frac{r}{n}\right)^{n t}$.

Use properties of rational exponents to solve the compound interest formula for the interest rate, $r$.

Find the time required for a $1000 investment to (a) double at interest rate r, compounded continuously, and (b) triple at interest rate r, compounded continuously. Round your results to two decimal places.$r = 7 %$