a company wants to accomplish $100000 to purchase replacenent machinary ten years from now ,to accomplish this;equal quarterly payment are made to a fund that earns 4% compound quartely  a.find the amount of each payment b. how much interest will be earned on the fund

Q: Sam borrows $28 000 to buy a new car at a flat interest rate of 9% per annum over 3 years. How much…

A: It's a question of flat (simple) interest rate. We will calculate interest, add the same to the…

Q: A business must pay an annuity of $ 20,000 quarterly with j4 = 5%. Calculate the semester payment to…

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Q: Determine the interest earned after 10 years if $200 is invested in each of the following accounts:…

A: Given data: The principle (P) is $200 The time(T) is 10 years Rate of interest (R) is 6%   The…

Q: A contractor borrows $1,000 at 11.8% interest rate per annum to buy material for a job. The debt is…

A: Compound Interest Formulawhere A is the final amount after time t P is the initial investment R is…

Q: Find the total interest paid of the loan if the amount borrowed is OMR 25,000 at 5% interest for 8…

A: I am using Simple Interest formula for this. S.I.=(25,000*5*8)/100 S.I.=OMR 10,000

Q: Mary deposits $9,000 in a bank account that guarantees a simple interest rate of 7.5% per year. How…

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Q: The price of a condominium is $146,000. The bank requires a 5% down payment and one point at the…

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Q: An individual borrowed ​$78,000 at an APR of 3​%, which will be paid off with monthly payments of…

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Q: The monthly interest rate on this loan is 0.5%. The amount of the first month’s payment ($1918.56)…

A: Monthly interest rate  = 0.5 % yearly interest rate  = 005*12 =6 %Loan amount = 320,000 $monthly…

Q: . Find the simple interest (I = Prt) of $10,000 invested for 6 years at an annual simple interest…

A: Definition: simple interest If an amount of money,  P , the principal, is invested for a period of…

Q: A man applied for a loan with 16% interest. The interest will be automatically deducted from the…

A: If the interest is simple, then the formula that is used is A=P1+rt, where A is the final amount, P…

Q: An individual borrowed ​$78,000 at an APR of 3​%, which will be paid off with monthly payments of…

A: HERE GIVEN MONTHLY PAYMENT IS MADE FOR 22 YEARS IT MEANS 12 PAYMENTS PER YEAR. AND OTHER DETAILS ARE…

Q: Kevin takes out a $350 000 mortgage for 30 years at 2.05% annual interest compounded quarterly. His…

A: The EMI i.e. the monthly payment required to be done by Kevin includes the interest component to be…

Q: A loan for a new tractor is to be simple interest. The rate is 7.2% for 6 years on $43,400. How much…

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Q: Find the interest paid on a loan of ​$2,100 for three years at a simple interest rate of 12​% per…

A: Simple Interest:The interest amount paid by borrowers to the lenders or the interest amount charged…

Q: Al the end of each month, $300 is deposited into a savings account paying 2.9% interest compounded…

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Q: katy took out a loan for $12,000 over 3 years. if her tiotoal repayments amounted to $18750.…

A: It is given that A=18750, P=12000 and t=3. To calculate the interest charged and the flat rate of…

Q: Assume a six-month CD purchased for $5000 pays simple interest at an annual rate of 9.5%. How much…

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Q: Mrs. Wilson borrowed $5,760 from a bank at 8.25% per annum simple interest for 9 months

A: Given: Mrs. Wilson borrowed $5,760 from a bank at 8.25% per annum simple interest for 9 months. To…

Q: A person lent P5000.00 to B for 2 years and P3000.00 to C for 4 years on simple interest at the same…

A: We will find out the required rate of interest.