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- If a nine-month term deposit at a bank a simple interest rate of 9% per annum, how much will have to be deposited to earn $ 225 of interest?
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- 2. If a nine-month term deposit at a bank earns a simple interest rate of 9% per annum, how much should be deposited to earn P225 of interest?What lump sum of money must be deposited into a bank account at the present time so that $500 per month can be withdrawn for five years, with the first withdrawal scheduled for six years from today? The interest rate is 0.75% per month.If the bank states an effective interest rate of 13.5% per year, and there are 52.15 weeks, how much interest do you earn on a deposit of $120,000 over 1 week?
- To payoff a loan of $1000 you need to make 40 payment of $36.56 per month. What rate of interest are you paying? What is the stated or quoted rate? What is the annual percentage rate? What is the effective annual rate? What rate is bank likely to use to state its rate?What will a deposit of $4,500 at 7% annual interest is worth if left in the bank for nine years?If the nine-month term deposit at a bank earns a simple interest rate of 9% per annum how much will have tobe deposited to earn 225 pesos of interest
- A depositor currently has $6,000 and plans to invest it in an account that accrues interest continuously. What interest rate must the bank pay if the depositor needs to have $10,000 in four years?compute the initial value of the money if the borrower needs deposit the accumulated amount of 59,137 to the bank after 8 months and 24 days if the money has the interest rate of 19% per annum.Suppose you have accumulated $22,000 in credit card debt. If the interest rate on the credit card is 22.7% APR compounded monthly, how many years will it take you to pay off this debt if you pay $500 per month?
- if you deposit $17,000 in the bank today, you will be able to withdraw $24,000 from the account in six years. what is the implied rate that the back is paying?What is the effective annual interest rate of a 8.4% bank loan compounded monthly?If you deposit $100 in a savings account at the end of each month for 2 years, the balance will be a function f (r) of the interest rate, r%. At 7% interest (compounded monthly), f (7) = 2568.10 and f (7) = 25.06. Approximately how much additional money would you earn if the bank paid 7 1/2 % interest?