MAT 043 Pitt Community College What Is Your Monthly Cash Flow Algebra Worksheet

MAT 043 Pitt Community College What Is Your Monthly Cash Flow Algebra Worksheet


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MAT 043 Lesson 23: Savings plan This is used when payments are regularly added to an account. Savings plan formula: = [ (+ () ) − ( ) ] A = total amount after y years PMT = amount of the payment APR = annual percentage rate n = number of payments made per year Y = time in years Use the savings plan formula to find each missing value. Round each monetary answer to the nearest cent if needed. Show your work! 1. PMT = $500, APR = 2.5%, n = 12, Y = 20 yr. 2. A = $200,500, APR = 12%, n = 4, Y = 12 yr. Practice Problems 3. PMT = $75, APR = 7%, n = 12, Y = 10 yr. 1 4. PMT = $250, APR = 1.5%, n = 6, Y = 8 yr. 5. A = $17,000, APR = 2.55%, n = 12, Y = 3 yr. 6. A = $10,000, APR = 8%, n = 12, Y = 6 yr. 7. At age 30, Michelle starts an IRA (Individual Retirement Account) to save for retirement. She deposits $100 at the

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MAT 043 Pitt Community College What Is Your Monthly Cash Flow Algebra Worksheet

UNFORMATTED ATTACHMENT PREVIEW

MAT 043 Lesson 23: Savings plan This is used when payments are regularly added to an account. Savings plan formula: = [ (+ () ) − ( ) ] A = total amount after y years PMT = amount of the payment APR = annual percentage rate n = number of payments made per year Y = time in years Use the savings plan formula to find each missing value. Round each monetary answer to the nearest cent if needed. Show your work! 1. PMT = $500, APR = 2.5%, n = 12, Y = 20 yr. 2. A = $200,500, APR = 12%, n = 4, Y = 12 yr. Practice Problems 3. PMT = $75, APR = 7%, n = 12, Y = 10 yr. 1 4. PMT = $250, APR = 1.5%, n = 6, Y = 8 yr. 5. A = $17,000, APR = 2.55%, n = 12, Y = 3 yr. 6. A = $10,000, APR = 8%, n = 12, Y = 6 yr. 7. At age 30, Michelle starts an IRA (Individual Retirement Account) to save for retirement. She deposits $100 at the

Do you similar assignment and would want someone to complete it for you? Click on the ORDER NOW option to get instant services at LindasHelp.com