For the loan described, calculate the monthly payment and the portions of the payments that go to principal and to interest during the first 3 months. Use a table. Calculate the monthly payment and the portions of the payments that go to the principal and to interest during the first 3 months for a student loan of $41,996 with a fixed APR of 8.0% for 10 years.
What will be an ideal response?
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Suppose you borrow money from your parents for college tuition on January 1, 2013. Your parents require four annual payments of $1,000 each, with the first payment due on January 1, 2017. They are charging you 6% annual interest. What is the cost of the college tuition?
A. $2,909.37 B. $1,593.85 C. $4,000.00 D. $2,744.69
Solve.Determine the total payment over the term of a home mortgage of $120,000 with a fixed APR of 4% for 25 years.
A. $192,845.81 B. $190,021.26 C. $141,509.43 D. $187,843.64
Decide whether the statement makes sense. Explain your reasoning.By 2040 projected Social Security payments will be about $900 billion more than collections from Social Security taxes. The government will then need to redeem $900 billion in IOUs from the Social Security trust fund. However, it should be fairly easy for the government to find the $900 billion by cutting discretionary spending.
What will be an ideal response?
Complete the identity.csc (2?) - sec (2?)(tan ? - 1) = ?
A. 
B. 
C. 
D. 