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- Mr. Cruz invested P 20,000 for 1 year at 12% compounded monthly. At the end of 1 year, he reinvested all ( the principal and the interest ) at 6 % compounded continuously for 1 year. How much will the investment amount?SITUATION1: Five hundred pesos (P500.00) is deposited monthly to an account earning 7% compounded monthly. (a) what is the amount of the deposit after five years? (b) if the monthly deposit after two years is increased to P1,000. What is the amount of the deposit after five years? (c) repeat question (4) if the interest is 18% compounded monthly? bAn annuity pays out $20000 per year in perpetuity. If the interest rate is 8% compounded annually, finda) the present value of the whole annuity.b) the present value of the annuity of the first 15 years. c) the present value of the annuity for payments received, starting from the beginning of the 10th year.
- If a bank says that it has a 5% nominal interest rate, but money is compounded monthly in that bank, what is the effective annual interest rate? What is the value of an account 10 years after it started? The initial balance in the account was $5000, and the account has 5% annual interest rate that is compounded monthly.You deposit $10,000 in a fund that pays compound annual interest equal to 3%. One year later the interest rate changes to 4%, 2 years later the interest rate changes to 5%, and 3 years later the interest rate changes to 6%. How much will you have in the fund after 4 years if you withdrew $2,500 at the end of each of the previous 3 years?Find the uniform annual amount that is equivalent to a uniform gradient series in which the first year’s payment is $500, the 2nd year’s payment is $600, the 3rd year’s payment is $700, and so on, and there are a total of 20 payments. The annual interest rate is 9%.
- Dave has a 13 year annuity due making annual payments that grow geometrically at the rate 7%. The first payment is $7000.00 and the interest rate is i(26) = 9%. What is the present value of his annuity?You borrow $2,000 from Gougo’s, a well-known loan consolidation outfit. The loan is an “unbelievably low” 2.5% per month compounded monthly. You have 2 years to pay back the loan. a. What is the nominal interest rate? b. What is the effective interest rate? c. If you wait until the end of year 2 to pay it off in one lump sum, how much must you pay? Use the “period interest rate” approach. d. If you wait until the end of year 2 to pay it off in one lump sum, how much must you pay? Use the “effective interest rate” approach. e. Of your payment in parts (c) or (d), how much is interest? f. Suppose you make equal end-of-month payments. How much is the monthly amount?Q3. A loan of $15,000 requires monthly payments of $477 over a 36-month period of time. These payments include both principal and interest. (a) What is the nominal interest rate (APR) for this loan? per year, compounded monthly (b) What is the effective interest rate per year? per year
- You have borrowed $10,000 from a bank with the understanding that you will pay it off with a lump sum of $12,000 after 2 years. Find theannual rate of interest on this loan.4. Given an effective interest per annum of 20%, compare the compound amount at the end of 10 years of $5,200 a year if the payments are: a) End-of-year b) Weekly (assume interperiod interest) c) Continuous (assume interperiod interest)1. An investment company advertises accounts that actually yields 13% interest per year when compounded semiannually. What is the nominal interest rate per year?