Sep 26, 2017 term paper 2

# (TCO B) YOU HAVE BEEN DILIGENTLY SAVING TO BUY A BOAT. FOR THE LAST 10 YEARS, YOU HAVE BEEN PUTTING \$50 PER MONTH INTO A SECRET SAVINGS ACCOUNT PAYING .5% INTEREST PER YEAR. YOU STARTED WITH \$0. YOU JUST DISCOVERED THAT YOUR SPOUSE KNEW ABOUT THE ACCOUNT

This paper concentrates on the primary theme of (TCO B) YOU HAVE BEEN DILIGENTLY SAVING TO BUY A BOAT. FOR THE LAST 10 YEARS, YOU HAVE BEEN PUTTING \$50 PER MONTH INTO A SECRET SAVINGS ACCOUNT PAYING .5% INTEREST PER YEAR. YOU STARTED WITH \$0. YOU JUST DISCOVERED THAT YOUR SPOUSE KNEW ABOUT THE ACCOUNT in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.

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(TCO B) You have been diligently saving to buy a boat. For the last 10 years, you have been putting \$50 per month into a secret savings account paying .5% interest per year. You started with \$0. You just discovered that your spouse knew about the account the whole time and has been withdrawing \$45 each month for the last 10 years. How much money do you have in the account?

Ignore taxes. Show your work. If you use Excel, show the formula with the parameters, and the answer. If you use a formula, provide the standard formula, the formula with terms substituted, and the answer. If you use a calculator, show the inputs and the answer. (Points : 10)

TCO B) You want to buy a car. To do so, you will need to take out a loan in the amount of \$19,000. The longest you are willing to pay on the loan is five years. The interest rate on this type of loan is 5.0% per year.

How much will the equal monthly payments be?

Ignore taxes. Show your work. If you use Excel, show the formula with the parameters, and the answer. If you use a formula, provide the standard formula, the formula with terms substituted, and the answer. If you use a calculator, show the inputs and the answer. (Points : 5)

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