On June 3, 2022 Fred loaned 198143 in a bank. It was agreed that he will pay the amount with 11.2% rate of interest on October 10, 2022. What is the total amount of money Fred should pay? (Use banker's rule.)
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- You borrow $ 27965 at 12.25 % interest compounded monthly. If you are unable to make any payments for 5 years, how much do you owe at the end of 5 years? No rounding off to interest rate and round off your final answer to 2 decimal places.An investment of $2658 is made at the beginning of each month for 4 years and 11 months. How much will the investment be at the end of the term, if interest is 5% compounded monthly? Round your answer to 2 decimal places.Assume, you want to get $1,000 after 5 years. How much equal amount of money do you need to deposit in an account that earns 12% annual interest to get that money? Check you answer with interest table.
- 4. How long will it take money to quadruple if it earns 7% compounded semi-annually?You want $12,000 in your IRA in 6 years. Assuming you get 8% compounded quarterly, how much will you need to put in each quarter?You want to buy a $32,000 car. You can finance the car for 1.5% interest for 6 years. What is your monthly payment? Assume monthly compounding. Do not enter the negative sign from your calculator (if there is one) or the dollar sign. Round to two decimal places.
- 8. A farmer bought a tractor costing 25,000 payable in 10 semi-annual payments, each installment payable at the beginning of each period. If the rate of interest is 26% compounded semi-annually, determine the amount of each installment.14. What is the nominal value of the interest compounded continuously for a period of 3years if the value of the uniform series present worth factor is 2.038?QUESTION 4 You will deposit 18,285 at 10% simple interest rate for 6 years, and then move the amount you would receive to an investmen. account at 12 % compound rate for another 3 years. How much money would you have at the end of the entire period ?