Angela owes $7,231.98. She has made arrangements to repay the debt in installments of ?$342.35 per? month, and will be charged monthly interest of 1.34% on the overdue balance. How many months will it take her to repay the debt and? interest? Assume? end-of-month payments.
The? _____ price is? _____ the? _____ price.
A. ?bid; above; ask
B. ?bid; below; ask
C. ?ask; below; bid
D. ?ask; above; bid
E. Answers? (B) and? (D) are correct.
Jed wants to borrow $1,000 from you. He is proposing to repay you with three? beginning-of-year payments of $343.17. In? addition, he will make a final? lump-sum payment of $100. What rate of return are you earning on the? loan?
Today you invested $32,700 in an investment that pays 2%and will mature in 8 years. Once the investment? matures, you will reinvest your funds for another 4 years in another investment that pays 7%. What will be the value of your investment after 12 ?years?