Ife deposits $200 in an account paying a nominal interest rate 9.800% compounded quarterly. Muhammad deposits $400 in an account paying a nominal interest rate i(52) After 16 years they have the same amount in their accounts. What is i(52)?
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- Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264Melisandre deposits $500 in an account paying an effective monthly interest rate 0.62708%. Kobe deposits $2,000 in an account paying an effective interest rate j₁. After 24 years they have the same amount in their accounts. What is j₁? a. 1.91427% b. 1.89687% C. 1.84466% d. 1.75765% e. 1.74025%1- A person deposits 200.00 riyals at the end of each month for a year in a bank, and it has been found that the total of what he is entitled to at the end of the year is 2510.00 riyals. What is the interest rate? 2- A person deposited 900.00 riyals first every two months for a whole year, then began depositing 400.00 riyals at the beginning of each Two months for another year. If the interest rate is 15%, what is his balance at the end of the period? 3- In the first of every two months, a person deposits a certain amount. If it is found that the total of what he is entitled to at the end of the year is EGP 3,920, and if the annual interest rate is 12%, what is the value of the equal payment ? 4- Find a sentence of a semi-annual payment with a periodic value of 300.00 riyals, and it is paid for two years and with simple interest at a rate of 5% annually if the payments are: (a) regular, (b) immediate 5- A person deposited 500.00 riyals in a bank at the beginning and middle of each…
- Armita deposits $400 in an account paying a nominal interest rate 9.625% compounded quarterly. Bob deposits $1,200 in an account paying a nominal interest rate ¡(26). After 17 years they have the same amount in their accounts. What is i(26)? a. 2.745%* b. 2.898% c. 3.020% d. 3.050% e. 2.806%Joshua borrowed $800 for one year and paid $40 in interest. The bank charged him a service charge of $7. If Joshua paid the $800 in 12 equal monthly payments, what is the APR?Anita opens a savings account. At the start of each month she deposits SX into the savings account. At the end of each month, after interest is added into the savings account, the bank withdraws $2500 from the savings account as a loan repayment. Let M be the amount in the savings account after the n" withdrawal. The savings account pays interest of 4.2% per annum compounded monthly. (i) Show that after the second withdrawal the amount in the savings account is given by M = X(1.0035 + 1.0035)- 2500(1.0035 + 1). %3D (ii) Find the value of X so that the amount in the savings account is $80 000 after the last withdrawal of the fourth year.
- Joaquin deposits $400 at the end of each month into his bank account. The bank account pays 13.2% compounded monthly. After 96 deposits, Joaquin's account contains $67,575.29. After 288 deposits, Joaquin's account contains $812,817.07. How much interest did Joaquin receive between his 96th deposit and his 288th deposit? O a. $668,441.78 O b. $745,241.78 Oc. S697,617.07 O d. S738,841.78 O e. SS22,041.78 Save All Answers ubmit Click Save All Answers to save all ansuwers.Imelda opens a savings account with $12,000, which pays an annual interest rate of 7.8%. If she reinvests the generated interest every month and also deposits $2,300 each month, how much will be in the account after 2 years? The interest is reinvested on the same day as the $2,300 deposit. Otions: 69177.89 71052.15 73548.61 70524.79Joshua borrowed $1,400 for one year and paid $70 in interest. The bank charged him a service charge of $12. If Joshua repaid the loan in 12 equal monthly payments, what is the APR? (Enter your answer as a percent rounded to 1 decimal place.) APR
- 1) Alisha invests 5,000 into an account. The effective monthly interest rate is .25% for the first six months, .5% for the next year, and .75% for the next six months. Find the amount Alisha has in the account after two years, and find the average compound monthly interest rate (i.e. the equivalent effective monthly interest rate) for the two year period. Finally, find the average yearly interest rate (i.e. the equivalent effective annual interest rate) for the two year period.An individual makes five annual deposits of P 2,000 in a savings account that pays interest at a rate of 4% per year. One year after making the last deposit, the interest rate changes to 6% per year. Five years after the last deposit the accumulated money is withdrawn from the account. How much is withdrawn? Select one: a. P 16,701 b. P 12,356 c. P 15,824 d. P 14,223**please do not use excel1. Investment Luc invests $7000 in two bank accounts. One earns 1.5% simple interest per year, and the other earns 2.5% simple interest per year. After one year the total inter- est earned on these investments is $120.25. How much money did he invest in each account?
