Q: If $ 5000 shall accumulate for 10 years at 8% compound quarterly. Find the compounded interest at…
A: Given information is: Principal amount (P)= $5,000 Time period (t)= 10 years Interest rate (r)= 8%…
Q: How much do you need to invest now at 4.8% to provide regular payments of $500 per year for the next…
A: The regular payment (A) = $500 Total number of years (n) = 4 Interest rate (r) = 4.8%
Q: Find the present value of an annuity of $2,000 payable at the end of each year for 10 years, if the…
A: Answer is given:
Q: A 25-year-old person wants to accumulate $750,000 by age 60. How much will she need to save each…
A: A=Pr1+rn-1 Here, the value of n is obtained in months and hence multiplied by 12. n=60-25×12=420…
Q: Grandma wants to give you $420 at the beginning of each month while you are at school for 3 years.…
A: Periodic Payment (PMT) = $420 Time period = 3 years or 36 months n = 36 Interest rate = 4.8%…
Q: How much should a family deposit at the end of every 6 months in order to have $2000 at the end of 5…
A: Future value tells us how much will be the worth of the amount deposited/invested today says after n…
Q: How much must be invested at the end of each month for 30yrs in a sinking fund that is to amount to…
A: Solution:-
Q: Maria loaned an amount of 100,000Php payable in 15 equal quarterly instalments. The first payment…
A: Compounding is a term used by savers and investors to describe the ability of a sum of money to grow…
Q: How much would is needed today to provide a monthly amount of $1,000 (each month) for 2 years, at…
A: In the given case, we have an annuity that pays periodic payments of $1000 with a 10% annual…
Q: A 25-year-old person wants to accumulate $750.000 by age 60. How much will she need to save each…
A: Given data: Current age of person is 25 years. Accumulation till age of 60 years from now. Interest…
Q: What is the present worth of a 3-year annuity paying 3,500.00 at the end of each year, with interest…
A: Present value is that the thought that states associate degree quantity of cash these days is price…
Q: A car loan requires 30 monthly payments of $199.00 starting today. At an annual rate of 12%…
A: The measure that depicts that the value of money in the present is considered to have much more…
Q: Juan makes 10 bimonthly deposits of $500 beginning one bimonthly after today, if the interest rate…
A:
Q: find the principal value of perpetuity amount of 18,000 with a nominal rate or 5% compounded…
A: Given, Perpetuity Amount : 18,000Rate of Ineterst : 5% compounded quarterly
Q: Mr. Benedito, a grocery store owner, borrows $50,000.00 from a loan shark, handing him a $77,000.00…
A: Given Mr. Benedito borrows $50,000, So present value P=$50,000 The value of the promissory note is…
Q: ach year a single payment of ₱1,766.00 is deposited in an account that earns 6% compounded…
A: Compound interest is the interest on a loan or deposit calculated supported each the initial…
Q: What is the accumulated amount of P 5 000 after 10 years that is at 8% compounded bi monthly?
A:
Q: At a certain interest rate compounded quarterly, 2500 will amount to 10500 in 7 years. What is the…
A: The formula to calculate the amount is given by: A = P1+r/41004nwe divide the rate of interest by 4…
Q: John borrows $10,000 at 18% compounded annually. He pays off the loan over a 5-year period with…
A: The loan amount is $10,000, the interest rate is 18%, and the time period is 5 year. Let us consider…
Q: P4000 is borrowed for 75 days at 16% per annum ordinary simple interest. How much will be due at the…
A: below are the given values: Given borrowed amount = P4000 Time period = 75 days or 75365=0.205…
Q: Using the formula for present worth (1+n)t In how many years will $10000 accumulate to $25000 at 18%…
A: Here we calculate the number of year by using the given formula and information , so the calculation…
Q: .How long it take money to quadruple if it earns 3% compounded daily 16636 days 16637 days 16867…
A: Let the initial amount is x. It will become 4x in n days. Rate of interest is 3% compounded daily.…
Q: If you save $1,000 today and the annuel interest rate is 6%, what will that money be worth in 40…
A: Given, P = $1000 i = 6% t = 40
Q: Determining the Present Value for a Decreasing Annuity How much money must you deposit now at 6%…
A: Given the annuity amount = $3000 Interest rate = 6% Quarterly interest rate = 6% / 4 = 1.5%…
Q: Lia was supposed to make payments of $1,766 6 years ago and $1000 5 years ago to settle a loan. If…
A: Interest refers to the amount paid in excess of the principal amount y the borrower to the lender.…
Q: What is the ammount of interest earned on $10,000 for 12 years at 9% simple interest per year?
A: Simple interest is a method to calculate the amount of interest charged on a sum at a given rate and…
Q: A series of equal semi-annual payments of $2900 for 3 years is equivalent to what present amount at…
A: Compound interest is computed on both the initial amount of money and the interest that has been…
Q: In how many years will money triple its amount if invested at 8 % compounded semi – annually?
A: Interest is the amount paid for using an amount of money.
Q: The balance of an account continuously compounded was $2006 after 7 years and $6790 after 12 years.…
A: According to the question The amount is compounding continuously, it will give $2006 after 7 years…
Q: Please provide a complete solution. Thank you! If you deposit 500 pesos at the end of each year…
A: The correct answer is given in the second step.
Q: What amount of money is equivalent to receiving $10,000, 5 years from today, if the interest rate is…
A: To compute the present value of $10,000, 5 years from now at 8% rate of interest compounded…
Q: John borrows $10,000 at 18% compounded annually. He pays off the loan over a 5-year period with…
A: A loan helps an individual to borrow and spend on his/her current needs. However, an interest rate…
Q: Calculate, to the nearest cent, the future value FV (in dollars) of an investment of $10,000 at the…
A: Future value of the investment can be defined as the accumulation of invested money at the given…
Q: How much money would you need to deposit today at 9% annual interest compounded monthly to have…
A: Correct : A. $7007
Q: If the sum of ¥15,000 is deposited in an account earning interest at the rate of 12% compounded…
A: Given information, Principal amount (P): ¥15,000 Interest rate (r): 12% Compounding period (m): 2…
Q: It takes 10.15 years to quadruple your money if invested at x% compounded semi-annually. Find the…
A: In the mentioned question, Number of years, n= 10.15 years Here qiven, money will be quadruple which…
Q: What uniform annual amount should be deposited each year in order to accumulate 1,000,000 at the end…
A:
Q: The compound interest on a certain sum of money for 2 years is $ 52.00 and the simple interest for…
A: GIVEN Simple Interest for two years is 50P×T×R / 100 = SimpleInterest P×2×R = 50
Q: If the nominal annual interest rate is 5% compounded monthly, what is the effective interest rate?
A: Effective annual rate=E Annual percentage rate=APR No. of compounding period=n Given: APR=5%=0.05…
Q: Recently, Money Money 4U offered an annuity that pays 5.4% compounded monthly. If $1,540 is…
A: Money is a commodity accepted by general consent as a medium of economic exchange. It is the medium…
Q: What is the future value of $1,540 invested for 5 years at 5% interest compounded monthly? Round…
A: Given: The principal amount is = $1,540 Years = 5 The rate of interest is = 5% compounded monthly To…
Q: If money is worth 5% compounded semi annually, find the present value of a sequence of 12 semi…
A: Given data: Rate is 5% and compounded semi annually. 12 semi annual payments of A=P500 each. First…
Q: Suppose that $5000 is deposited in a saving account at the rate of 6% per year. Find the total…
A: Given: Principal = $ 5000 Rate of interest = 6% per year Time = 4 years n = 365 ( since it is…
Q: A future amount F, is equivalent to $ 1,500.00 now when six years, separate the amounts and the…
A: We are given, Principal amount (P) = $1500 Annual interest rate (r) = 12% = 0.12 No. of years (t) =…
Q: A man borrowed P 100,000 and promised to pay after 6 months at an interest of 8% compounded monthly…
A:
Q: If you borrow money from your friend, Ned, with simple interest of 12%, find the present worth of…
A: Simple interest formula: A = P(1+rt) Where A is the final value P is the initial value (or present…
Q: An investment company pays 33% compounded semiannually. You want to have$23,000 in the future.…
A:
Q: Find the present value of an annuity due of 2000 per annum for 14 years interest at 9%
A: In economics, present value refers to the current value of a future stream of cashflows. Future…
$600 deposited one time in a CD that compounds once yearly at 12%. How much will be the total in the account in 50 years?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- How long it take money to triple if it earns 6% compounded continuouslyBobby was desperate. He borrowed $600 from a pawn shop and understood he was to repay the loan starting next month with $100, increasing by $10 per month for a total of 8 months. Actually, he misunderstood. The repayments increased by 10% each month after starting next month at $100. Use a spreadsheet to calculate the monthly interest rate that he thought he was to pay, and what he actually will pay.How long your money would double its amount if you invested at 5%compounded annually?
- How long (in years) will it take to quadruple a money if it earns 2% compounded semiannually?If you wish to be a millionnaire at 35 years old, and 5% interest was paid annually, how much should you put into your savings account now?Accumulate P3, 000 for 9 years at 6% compounded quarterly? What is the compound interest earned?
- You borrow $6,000 for 90 days at 6.5% interest. The lender uses a 365-day year. You make a payment of $1,400 on day 36 (36 days after getting the loan). Calculate your balance after the $1,400 payment is applied.If you invest $ 500 on Lending Circle at a rate of 5% for 1.5 years, how much will you have earned?You borrowed an amount of $15,000 and paid it $20,223 in 3 years. If the interest rate was compounded monthly, what is the nominal interest rate?