Question

2. Your family gives you $5,000 as a college graduation present. You are about to start paying off $50,000 in student loans at a 4 percent interest rate for a 15-year loan. You could use this money to pay some of your loans, but you could also invest it.
a. Calculate the monthly payments and total payment you will be making on your loan if you do not use the $5,000 to make an initial payment.
Monthly Payment:
Total Amount Paid:

Answer 1

b. Calculate the monthly payments and total payment you will be making on your loan if you do use the $5,000 to make an initial payment.
Monthly Payment:
Total Amount Paid:

Answer 2

c. List two ways you could invest the money, and describe the expected returns from each method over a 15-year period.
d. What would you do with the $5,000? Explain why your choice makes financial sense to you.

Answer 3

@aspenmurillo

Answer 4

@skullpatrol

Answer 5

@Loser66

Answer 6

@wcrmelissa2001

Answer 7

can someone please help

Answer 8

i will give a medal to anyone who will help me with these

Answer 9

sorry accountancy questions aren't my forte :/ wait a bit don't worry someone will help eventually @3mar

Answer 10

@3mar

Answer 11

Well, I am here.
I was praying!

Answer 12

yes

Answer 13

@3mar please

Answer 14

you could help me by figuring out the answers to those questions they are due today and im failinh and im at risk of not passing.

Answer 15

2. Your family gives you $5,000 as a college graduation present. You are about to start paying off $50,000 in student loans at a 4 percent interest rate for a 15-year loan. You could use this money to pay some of your loans, but you could also invest it. a. Calculate the monthly payments and total payment you will be making on your loan if you do not use the $5,000 to make an initial payment. Monthly Payment: Total Amount Paid:

Answer 16

b. Calculate the monthly payments and total payment you will be making on your loan if you do use the $5,000 to make an initial payment. Monthly Payment: Total Amount Paid:

Answer 17

c. List two ways you could invest the money, and describe the expected returns from each method over a 15-year period. d. What would you do with the $5,000? Explain why your choice makes financial sense to you

Answer 18

Do you have any ideas?
Do you have the equations and formulae to solve such these?

Answer 19

no i can send a screenshot of the paper if you would like

Answer 20

Yes, please.
Paper of the question and of the theory and equations you have studied about that!

Answer 21

@Directrix
If you could help here, I would be grateful!

Answer 22

is anyone able to help? running out of time

Answer 23

@Vocaloid
If you could help here, I would be grateful!

Answer 24

unfortunately I've never taken accounting so I don't want to give any wrong ideas or information :(

Answer 25

I respect such teachers!
Thank you very much, @Vocaloid!

Answer 26

@563blackghost
Because you are one the rare I trust in, I need your help here if you don't mind! Of course after you did what you are doing now!

Thanks in advance.

Answer 27

I thank you 3mar for tagging me though this kind of questions seem to be a bit hard for me sadly. Though I will try and if I find a way to solve I will aid you as best as I can :)

Answer 28

Thank you for your concern!
I would be grateful to you if you try!

Thanks in advance.

Answer 29

I believe I have figured it out.

To solve we need to multiply the principle by the interest rate.

\(\huge\bf{50000 \times 0.04 = 2000}\)

In which we add.

\(\huge\bf{50000+2000=52000}\)

And then divide by how many months there are in a 15 years.

\(\huge\bf{\frac{52000}{12 \times 15}}\)

This should give you the answer to Question 1.

Answer 30

You there @Summer4ever

Answer 31

Is not 0.04 is annually?

Answer 32

That is the rate upon the principle I believe.