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Compute the interest rate if
Compound interest is the interest computed on the principal and the interest accumulated over the previous time. It is different from simple interest, where interest is not added to the principal while computing the interest the next time.
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- Compute the number of years (t) if future value (FV) = $13514, present value (FV) = $1186, and interest rate (r) = 11.8%,.Compute the present value if future value (FV) = $6127, interest rate (r) = 8.2%, and number of years (t) = 13.How much must be invested now at 6% simple interest to accumulate $1,000 at the end of 5 years? Choose an answer by clicking on one of the letters below, or click on "Review topic" if needed. A P = $1,000 / [ 1 + (0.06)(5) ] = $1,000 / 1.30 = $769 B F = $1,000 [ 1 + (0.06)(5) ] = $1,000 (1.30) = $1,300 C P = $1,000 / 5 = $200 D P = $1,000 (P/F,6%,5) = $1,000 (0.7473) = $747
- On March 25, you borrow some money for 120 days. What is the maturity date?You purchased a winning ticket for a $5 million lottery which pays $500,000 immediately and the rest in 9 annual installments. A finance company called and offered you $3 million for it. Would you accept the offer if the rate is 10%You have just been hired as a loan officer at a national bank. Your first assignment is to calculate the amount of the periodic payment (in $) required to amortize (pay off) the following loan being considered by the bank (use Table 12-2). (Round your answer to the nearest cent.) LoanPayment PaymentPeriod Term ofLoan (years) NominalRate (%) Present Value(Amount of Loan) $ every month 1.75 6 $30,000
- A certain amount of money doubles after 9 years. Determine its effective interest.Dave has a 13 year annuity due making annual payments that grow geometrically at the rate 7%. The first payment is $7000.00 and the interest rate is i(26) = 9%. What is the present value of his annuity?4) You collect rent from your tenant at the beginning of each month. Rent is $1250 in the first year, and then rent for each subsequent year is 2% larger than the previous year's rent. If you invest each month's rent (immediately after you get rent) into an account earning 4% effective annual interest then find the accumulated value after 30 years.
- Suppose you borrow $3,000 at 6.75% interest for 8 months. What is the maturity value?The profit from the sale of a product is expected to increase at an annual rate of 8%. First-year profits are estimated at $60,000, the horizon is 15 years, and the interest rate is 10% per year. Show me how you would calculate the equivalent present value of the fifteen years of product profits.Use interest tables. Suppose that $1,000 is invested for 4 years at an interest rate of 12%, compounded quarterly. How much will be in the account at the end of 4 years? Choose an answer by clicking on one of the letters below, or click on "Review topic" if needed. A F = $1,000 (F/P,12%,4) = $1,000 (1.574) = $1,574 B F = $1,000 (F/P,12%,16) = $1,000 (6.130) = $6,130 C F = $1,000 (F/P,3%,4) = $1,000 (1.126) = $1,126 D F = $1,000 (F/P,3%,16) = $1,000 (1.605) = $1,605