A company had replace one of its machine every five years with an initial cost of RM 18,000. Calculate how much money that the company has to save every month so that it can obtain RM 18,000 within five years if the interest rate is 6% per year compounded every month?

Q: What rate of interest compounded annually would result in receipt of $28,530 in eight years from an…

A:

Q: You've decided you will put $300 in the bank in year 1 and increase the deposit amount every year by…

A: The amount that a future sum of money is worth today, at a particular interest rate, is known as its…

Q: Bill Mitselfik borrowed ​$16,000 to be repaid in quarterly installments over the next five years.…

A: Present value refers to the value of cash receipts of payments (PMTs) in future expressed as it to…

Q: How many years will be required for a given sum of money to be 8 times the principal amount, if it…

A: Compounding refers to an asset's ability to generate returns that are then reinvested or remain…

Q: Regular payments of $2000 are made at the end of each compounding period. The account earns a rate…

A: The future value of an investment is the returns received by an individual at the given interest…

Q: Determine the current amount of money that must be invested at 6% nominal interest, compounded…

A: Present worth is the time value of money, which recognizes that money received or paid in the future…

Q: What is the effective annual interest rate for 10% compounded (a) semi- annually, (b) every four…

A: The effective rate of interest is the return on a savings account or an investment, whose interest…

Q: mechanical contractor has four employees whose combined salaries through the end of this year are…

A: Given, Amount- $250000 ROI-12% Time- 5 years

Q: Joshua's family that claimed a 1,000,000 peso prize on a Christmas party raffle decided to put…

A: Compound interest occurs when the interest earned on the principal of an investment (or loan) is…

Q: What is the present value of $100 realized two years from now if the interest rate is 10%?

A: Present worth is the concept that describes an amount of money today is value greater than that same…

Q: A recent government study reported that a college degree is worth an extra Php 35947 per quarter…

A: Given , Extra Income quarterly = 35947  Interest rate = 6% Quarterly interest rate = 6%/4 = 1.5%…

Q: How much money will be in an account in 5 years if $20,000 is deposited now at an interest rate of…

A: Given  Principal = 20,000  Interest rate = 1.5% per month compounded yearly therefore  Interest rate…

Q: How much would your parents have to deposit each month into an account that grows at a rate of 10%…

A: Interest rate  = 10% compounded annuallyNumber of year =  3 Final amount expected = 90,000

Q: Determine the number of times interest is compounded in a year for an interest rate of 1% per…

A: When talking about frequency of compounding, it can be said that it is the number of periods,…

Q: A recent government study reported that a college degree is worth an extra Php 35680 per quarter…

A: Given,  i = 6% i.e 0.06  n = 40 years  Extra amout per quarter = Php 35680

Q: What effective interest rate per quarter is equivalent to 10% per year compounded monthly

A: Meaning of Effective Interest Rate: The term effective interest rate is the payback…

Q: Calculate the amount of simple interest and the amount for: a)$40,000 at 36% per year in 3 years and…

A: To calculate the Simple interest we need to solve for separate time periods . We need to solve for…

Q: Consumer Willingness to Pay $24 20 Anya Basil Celeste Dralon Esther 15 12 7 Refer to Table 4-2. The…

A: Consumer surplus refers to the surplus of the consumer when the price he paid is less than what he…

Q: Alexandr makes 15 equal annual deposits of $1,000 each in a bank account paying 5% interest. How…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: Your company wants to set aside a fixed amount every year to a sinking fund to replace a piece of…

A: A fund that is created to repay a debt or replacement of an asset by putting an equal sum of amount…

Q: Suppose a tax is imposed on a product that has a completely inelastic supply curve. Who pays the tax

A: Elasticity of supply curve depicts how much producer responds with the change in the price level.

Q: What is the present value of P500,000 to be received 20 years from now, if the principal is invested…

A: P=A(1+R)nwhere P is present value A is future value R is interest rate n is time period

Q: For an interest rate of 12% per year compounded continuously, find the effective interest rate…

A: Given that,  Interest rate(i ) = 12% or 0.12

Q: which will be paid after 10 years at an interest rate of 12% compou

A: Interest rate = 12% compounded annually Debt after 10 years = 300,000 * (1 + 0.12)^10 = 931,754.5…

Q: Determine the ordinary simple interest on a 8 years loan of $ 205262 at 13.05%

A: Simple interest can be contemplated as two groups when the time is considered in terms of days. They…

Q: Samson entered into an agreement with "Lovey A & Handsome B Bank" whereby the former shall pay the…

A: Given that Samson shall pay "Lovey A & Handsome B Bank" double the amount after n years. This…

Q: What nominal rate per month is equivalent to an effective 1.3% per month, compounded continuously?

A: The nominal interest rate is the interest rate before inflation is factored in. Nominal can also…

Q: A bank quotes an interest rate of 4.5% per annum with quarterly (four times a year) compounding.…

A: a. The rate of continous compounding    = 4In1+0.0454   =0.045

Q: Jennifer Creek is saving up for a new car. She wants to finance no more than $10,000 of the $26,000…

A: Interest is the cost of borrowing money or the return earned on investment. It is typically…

Q: A lady saves RM 150 every month for ten years. If her saving is given an interest of 9% per year…

A: Payment each month = 150 Time = 10 years Interest rate = 9 % compounded monthly Monthly rate – 9 /…

Q: You inherited $12,000 from your Great-Uncle Michael. If you invest it and average an 8% annual rate…

A: Information given is as follows:-  P = 12,000 i = 8% n = 20 year Using this we have to find future…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Answer: To find the present value (PV) of the given cash flow series, we need to break down the…

Q: A sum of $2 million now is equivalent to $2.36 million one year from now at what interest rate?

A: Given: Present value (PV) = $2000000 Future value (FV) = $2360000 Number of years (n) = 1