5,000.00 at the end of each month at 2% per mont
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What amount can be paid today instead of paying ₱ 5,000.00 at the end of each month at 2% per month?
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Solved in 3 steps
- If money is worth 8% annually, what annual payment is required to raise ₱ 18,811 after 2 years if payments are done every beginning of the month?Economic Equivalence What amount can be paid today instead of paying ₱ 5,000.00 at the end of each month at 2% per month?What sum of money now is equivalent to $9500 three years later, if interest is 3% per 6-month period?
- How much do ten ₱ 6,945 quarterly payments amount at present, if the interest rate is 3 compounded quarterly if payments are done every beginning of the month?With a 0.31 compounded semi annually, approximately how much money must be invested today in order to withdraw $ 17,301 per 6 months at the end of each 6 months for 10 payments?At what nominal rate compounded monthly will payments of Php1,800 at the beginning of each month for 1 year will accumulate a sum of Php20,783?
- If P16,000 earns P480 in 9 months, what is the annual rate of interest?7. The monthly rental of an apartment in Quezon City is P9,000 payable at the beginning of each month. If money is worth 12% compounded monthly, what is the total cash equivalent of 1 year's rent?How much (in dollars) is needed in an account that earns 9.6% compounded monthly to withdraw $1,000 at the end of each month for 30 years? (Round your answer to two decimal places.)
- If money is worth 9.73% annually, what annual payment is required to raise ₱ 15,434 after 4 years?Suppose you need to hand $52,569 in an account 25 years from today and that account pays 6%. How much do you have to deposit into the account 1 years from today ?If money earns 3.9% compounded monthly, what two equal payments, one in 1 year and the other in 2 years, would be equivalent to: a. $8,500 today? b. $4,000 due 1 year ago, but not paid, and $6,900 due 3 years ago, but not paid?