Suppose that $1,364 was on deposit in a bank at the beginning of 2022 and that this amount increased to $3,660 by the end of 2048; there were no intermediate transactions. What was the annual interest rate?
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- Suppose $100 was deposited at the EOY 2011 and $220 was withdrawn at the EOY 2020, emptying the account. Find the annual interest rate.What sum of money due on October 1, 2026 is equivalent to $3000 due on January 1, 2003 if interest rates were 1.2% / year compounded monthly before January 1, 2010, changed to 6.8% / year compounded monthly from January 1, 2010 to January 1, 2020, and stood at 8.2% / year compounded monthly thereafter? (Enter the value only; do NOT add a $ sign.)A table of notes receivable for 2024 follows: E (Click the icon to view the table of notes receivable for 2024.) For each of the notes receivable, compute the amount of interest revenue earned during 2024. Round to the nearest dollar. (Ignore leaps years, and use a 365-day year for the notes with interest periods in days. Use a 12-month year for notes with interest periods in months.) Interest revenue earned during 2024 Data Table Note 1 Note 2 Note 3 Principal Interest Rate Interest Period During 2024 Note 4 Note 1 $ 50.000 11% 3 months Note 2 4,000 14% 180 days Note 3 24,000 6% 90 days Note 4 150,000 5% 9 months Print Done
- You deposit 500 in an account on January 1, 2003. Interest is credited each year on December 31, at a rate of 4% on the first 1000 in the account on January 1 of that year and 5% of any excess over 1000. Just after interest is credited on December 31, 2032, X is in the account. Calculate X.If you deposited P1,000 a couple of years ago in a bank that pays the interest bimonthly. After that, the money in the account had grown to P1,800. Determine the nominal interest rate and the effective interest rate.Assume 2% interest rate. If $50 is put in the bank on May 1, 1988, how much will be in the bank on May 1, 2021? Assume 2% interest rate. If $50 is put in the bank on June 1, 1996, how much will be in the bank on June 1, 2021?
- 3) For the transaction shown below, determine the amount of money in the account at the end of year 3 if the interest rate is 10% per year, compounded Semiannually, Assume no inter-period compounding End of the Amount of Deposit Amount of Quarter $/ Quarter Withdrawal $/ Quarter 1 900 2-5 700 6-8 600 9. 2600 10 1000 11 2000 a) Draw the cash flow b) Find the Amount at the end of year 3You deposit $ 7,812 in your account today. You make another deposit at t = 1 of $ 6,946 . How much will there be in your account at the end of year 1 if the interest rate is 11.9 percent p.a.? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). Your Answer:May I ask for an explanation and solution to the question for a better understanding. Thank you! 11. You plan to invest an amount of money in a certificate of deposit (CD) at your bank. The stated interest rate applied to the CD is 12%, compounded monthly. How much must you invest if you want the balance in the CD account to be P8,500 in 2½ years? a. P143,302.66 b. P11,941.89 c. P6,306.34 d. P11,302.14
- A) The future value at the end of the final year if deposits are made at the end of each year is $ (blank). (Round to the nearest dollar.) B) The future value at the end of the final year if deposits are made at the beginning of each year is $ (blank). (Round to the nearest dollar.)The total accumulated ordinary simple interest on a principal is P30,360 at a simple interest rate of 11.10%. If the principal worth P547,027.027 was paid on March 11, 2020. When did the principal borrowed? How much is the exact simple interest?On February 29, 2020 a sum of $35,200 was deposited into an account. What would be the future value of this sum of money on June 8,2023, if the interest rate is 3.6% compounded semiannually. Round the value for FV to two decimal places. P/Y = CY = DBD = days IY = PV = $ PMT = $ FV = $