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Home Question Bank Economics Archive 2024 December 05

Economics Questions from Dec 05,2024

Browse the Economics Q&A Archive for Dec 05,2024, featuring a collection of homework questions and answers from this day. Find detailed solutions to enhance your understanding.

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ASK YOUR TEACHER Need Help? A family buys a truck for . The truck loses of its value - in the first year and of its value in the second year. How much is the truck worth at the end of the second year? Explain your answers. If necessary, round to the nearest cent. . What lump sum do parents need to deposit in an account earning 5\%, compounded monthly, so that it will grow to for their son's college fund in 17 years? (Round your answer to the nearest cent.) Read It Watch It A couple wants to buy a house and can afford to pay per month. a. If they can get a loan for 30 years with interest at per year on the unpaid balance and make monthly payments, how much can they pay for a house? b. What is the total amount paid over the life of the loan? c. What is the total interest paid on the loan? A woman decides to invest in an IRA CD at the end of each year for 20 years. If she makes these payments and the certificates all pay , compounded annually, how much will she have at the end of the 20 years? At the end of 20 years, the woman will have approximately . (Do not round until the final answer. Then round to the nearest cent as needed.) 9. A sum of is deposited at an interest rate of per annum for 1 year, compounded monthly. Find the interest correct to the nearest dollar. What is main and interest Example What is main and interest Scott invested a total of at two separate banks. One bank pays simple interest of per year while the other pays simple interest at a rate of per year. If Scott earned in interest during a single year, how much did he have on deposit in each bank? Scott had on deposit at the bank that payed interest.
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