Questions from Financial Algebra

Q: Ralph wants to join a travel soccer team, a discretionary expense

Ralph wants to join a travel soccer team, a discretionary expense. His parents tell him he must get a job to earn the money to cover the costs. Ralph now views this discretionary expense as an essenti...

Q: If Rich decides to make no payments during the 4.5

If Rich decides to make no payments during the 4.5 years, the interest will be capitalized at the end of that period. a. What will the new principal be when he begins making loan payments? b. How m...

Q: Jason uses his car for business. He must keep accurate records

Jason uses his car for business. He must keep accurate records so his company will reimburse him for his car expenses. When he started his trip, the odometer read 42,876.1. When he ended the trip, it...

Q: Write the ticker symbols for each situation. a. 36

Write the ticker symbols for each situation. a. 36,000 shares of ABC at a price of 37.15, which is $0.72 higher than the previous day’s close b. 1,240 shares of XYZ at a price of $9.17, which is $1....

Q: Suppose Rich only paid the interest during his 4 years in school

Suppose Rich only paid the interest during his 4 years in school and the 6-month grace period. What will he now pay in interest over the term of his loan? Rich is attending a 4-year college. As a fres...

Q: Rich made his last monthly interest-only payment on November 1

Rich made his last monthly interest-only payment on November 1. His next payment is due on December 1. What will be the amount of that interest-only payment? Rich is attending a 4-year college. As a f...

Q: Suppose that Rich had decided to apply for a private loan rather

Suppose that Rich had decided to apply for a private loan rather than a federal loan. He is considering a 10-year loan with an interest rate of 5.9%. Rich is attending a 4-year college. As a freshma...

Q: Martina’s grandparents paid for the first 3 years of her college costs

Martina’s grandparents paid for the first 3 years of her college costs. As a senior, she was approved for a federal unsubsidized loan in the amount of $9,300 at a 4.29% interest rate for 10 years. a....

Q: Ted is a freshman attending a 4-year college. He

Ted is a freshman attending a 4-year college. He has been approved for an $8,000 subsidized federal loan at 4.29% for 10 years. How much will the U.S. Department of Education subsidize in interest cos...

Q: How much interest will Britta accrue during the 2.5-

How much interest will Britta accrue during the 2.5-year nonpayment period? Britta has been accepted into a 2-year medical assistant program at a career school. She has been awarded a $6,000 unsubsidi...