A deposit of $8441 will amount to $11789 in 10 years with interest compounded monthly. What is the nominal rate of interest? (Round your answer to 2 decimal places)

Q: What is the future value of a single $5,000 deposit earning 8 percent interest, compounded monthly,…

A: Formula:

Q: Calculate the simple interest rate. (Round your answer to one decimal place.) P = $2400, I = $60, t…

A: Simple interest = Amount*rate*time in years

Q: What weekly deposits should be made into a savings account paying interest at 8.9% / year compounded…

A: Formula used in calculation: Where,A = Weekly depositsFVA = Future value of the annuity (or…

Q: Find the interest rate for a $8500 deposit accumulating to $11,612, compounded annually for 6 years.…

A: A = the final amount (in this case, $11,612) P = the principal (initial deposit) (in this case,…

Q: What is the PV of a 8-year annuity due (payments at beginning of period

A: PV = PMT * ((1 - (1 + r)^(-n)) / (r * (1 + r)))Where:PV is the present valuePMT is the payment…

Q: A deposit of $290 earns the following interest rates: 9 percent in the first year. 7 percent…

A: Deposit amount (P) = $ 290 First year interest rate (R1) = 9% Second year interest rate (R2) = 7%…

Q: Find the future value of each deposit if the account pays (a) simple interest, and (b) interest…

A: Future value is the value of current cashflow compounded at specified rate to future date.

Q: If the annual interest rate is 7%, what is the monthly interest rate that would be used as the "r"…

A: Time value of money (TVM) refers to the method used to measure the amount of money at different…

Q: An amount of $29,200 will provide 9 years of payments of $2,518.50 at the end of every 6 months.…

A: Present Value  $                 29,200.00 Time Period 9 Semi Annual Payment(P/Y)  $…

Q: What is the present value of $7,280 payable at the end of 9 years? Use a nominal rate (monthly…

A: Present value is a financial concept used to measure the present value of money in the future and to…

Q: At what nominal rate of interest, convertible monthly, is $16,000 the present value of $290.10 paid…

A: Given: Future value = $16,000 Present value = $290.10 Years = 6 years Periods = 6*12 = 72

Q: Calculate the simple interest rate. (Round your answer to one decimal place.) P = $4300, I = $660,…

A: Simple interest is the interest calculated on the principal amount over some time whereas compound…

Q: What’s the present value of a $900 annuity payment over five years if interest rates are 8 percent?…

A: The present value of annuity is calculated by present value of all future payments from an annuity…

Q: A bank account pays 5.2 % annual interest compounded semiannually. How much money should be…

A: The amount to be deposited today can be calculated with the help of present value function Future…

Q: borrow $9,100 over five years at 0.13 compounded monthly, what would be your monthly payment? Round…

A: Annuity - Annuity means the amount of series of payments based on fixed intervals periods. The…

Q: Find the present value of an ordinary annuity with deposits of $11,055 semiannually for 10 years at…

A: An annuity's present value is the current value, discounted at a certain rate, of a series of future…

Q: What is the future value of a $900 annuity payment over five years if interest rates are 8 percent?…

A: The accumulated value can be calculated as future value of annuity

Q: A person deposits $1,000 for 5 years in an account that pays 7.2% per year compounded quarterly.…

A: Future value refers to the future date value when all cash flows are compounded at the given…

Q: On April 28, 2020 a sum of $39,700.00 was deposited into an account. What would be the future value…

A: Future value of money includes the amount of deposit done and amount of interest accumulated over…

Q: The stated interest rate on your account is 12.5%, interest paid monthly. Your effective rate of…

A: Nominal interest rate is 12.5% paid monthly Compounding frequency "n" is 12  To Find: Effective…

Q: Consider a $1,800 deposit earning 10 percent interest per year for 7 years. How much total interest…

A: Interest on interest is that under which is earned by the investor on his interest earned amount…

Q: Find the future value of an ordinary annuity of 560 paid at the end of each quarter for 2 years, if…

A: We need to use future value of ordinary annuity formula to calculate the future value after 2 years.…

Q: The present value of an annuity is given. Find the periodic payment. (Round your final answer to two…

A: Present value of annuity is the current value of the future payments that are calculated using the…

Q: What's the present value of a $900 annuity payment over five years if interest rates are 8 percent?…

A: Annuity = a = $900Time = t = 5 yearsInterest rate = r = 8%

Q: Suppose you invest $3000 in a four-year certificate of deposit (CD) that pays 1.5% interest…

A: Future value can be referred to as the value of an underlying asset or security at a future date.…

Q: Find the interest rates earned on each of the following. Round each answer to two decimal places.…

A: The time value of money is an essential financial concept that implies that a dollar amount in one's…

Q: Suppose you deposit $ 1296 today and your account will accumulate to $ 5637 in 9 years. What is the…

A: Maturity Amount, A  = $ 5637Principal deposited, P = $ 1,296Time period, T = 9 years