5. You deposit PHPI,500 in your bank account. If the bank pays 4% simple interest, how much interest will you accumulate in your account after 10 years? What if the bank pays sempound interest?

Q: You need to turn $11,827 dollars into $18,864 dollars in 7 years.  Assuming you make no extra…

A: Future Value = Present Value * (1+r)^nWhere,r = rate of interest per periodn = no. of compounding…

Q: A friend asks to borrow $54 from you and in return will pay you $57 in one year. If your bank is…

A: Future value of an amount is calculated as follows:  FV = PV*(1+r)t Where,  FV = Future value of…

Q: If you made $500 after investing $1500 in a bank CD for 5nyears, what percent simple interest did…

A: Interest rate can be calculated by dividing amount earned with total amount of investment.

Q: You want able to withdraw 15,000 each month for 15 years. your account earns 3 1/4% interest. a.…

A: Investments are the ways in which individuals and corporations park and save their money and funds…

Q: If you want to have $60.000 in 8 years, how much do you need to deposit in the bank today if the…

A: Deposit required today = FV/(1+r)n Where FV - Future value = $60,000 r - Interest rate = 9% n -…

Q: You Save Bank has a unique account. If you deposit $7,250 today, the bank will pay you an annual…

A: In this case, the bank uses different interest rates for different periods, so we'll need to apply…

Q: Max the mouse needs $10,000 in 5 years. How much should Max deposit today if the bank has a simple…

A: Simple interest is the type of interest that is calculated on the original amount invested and not…

Q: 1.1 Suppose you received R1000 from your grandparents on your 18th birthday, which was 17 years ago.…

A: Savings account earn compound interest. To calculate final account balance we can use the formula…

Q: If bank offers you to double your money in 12 years, what is the interest rate that it gives?

A: Given, Number of years 12.

Q: How much money will you have after 4 years if you deposited P10,000.00 in a bank that pays 6% simple…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 2. If you deposit $2500 two years from now in a bank account that pays 4% compounded annually, how…

A: The amount that is deposited today will be more in dollar terms at certain future date due to the…

Q: (2) Jack has deposited P1,000 into a savings account. He wants to withdraw it when it has grown to P…

A: Future value = Present Value* (1+Rate of Interest)t Here t is the time period or we can also say…

Q: You decide to invest $100 into a savings account with an interest rate of 2% annually in2015. The…

A: present value in savings account = $100 interest rate annually = 2% future value = $120 time period…

Q: If you deposit $3,500 monthly into a savings account which earns 4.25% interest rate compounded…

A: The future value function or concept can be used to determine the future value of a present sum or…

Q: Time value. You can deposit $12,000 into an account paying 6% annual interest either today or…

A: The amount that a present investment will gain in value over time when kept in a compound interest…

Q: You put 8,293 in the bank for 11 years at 5% what factor would you use to calcuate the future value…

A: Formula future value = present value x (1 + interest rate)^n Present value = 8,293 Interest rate =…

Q: How much would your investment be worth if you deposited $5,555.55 into a bank that paid simple…

A: Total Interestn need to be computed for 10 years period by computing the annual interest on amount…