Please show your work: list out the N, IY, PV, PMT, and FV with correct...
90.2K
Verified Solution
Link Copied!
Question
Finance
Please show your work: list out the N, IY, PV, PMT, and FV with correct signs. 6, Gloria wants to buy a car that costs $20,500. Her dad will loan her the money at 5.75% annual interest as long as she makes monthly payments over the next 10 years. How much will her monthly payment be? I/Y py PMT 7. Austin borrowed $5,000 from his father to purchase a mountain bike. He paid back $6,800 to his father at the end of 4.5 years. What was the average annual compound rate of interest on the loan from his father? I/Y PV PMT FV 8. Jamil wants to double his money in 6 years. What annual rate of return must he find in an investment to reach his goal? I/Y PV 9, How many years will it will take $25,000 to grow to $50,000 assuming an annual rate of return of 12%. I/Y FV 10. Your mother has $375,000 invested at 9.5%, and she now wants to retire. She wants to withdraw $75,000 at the end of each year. How many years will it take to exhaust her funds (run the account down to zero)? PMT
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
