A FATHER WISHES TO PROVIDE P4,000.00 FOR HIS SON ON HIS 21ST BIRTHDAY. HOW MUCH SHOULD HE DEPOSIT EVERY 6 MONTHS IN A SAVINGS BANK WHICH PAYS 3% CONVERTED SEMI-ANNUALLY, IF THE FIRST DEPOSIT IS MADE WHEN THE SON IS 3 1/2 YEARS OLD?  a.P67.88 b.P63.22 c.P65.20 d.P63.90

Q: An annuity-due has 26 payments of $200 per period. The effective rate of interest per period is 8%…

A: Annuity payment = 200 n = 26 effective rate for 12 years = 8% effective rate for 14 years = 4%

Q: 1. you are earning 7% annually and contributing the max allowable each year: if you want to have at…

A: Maximum allowable amount for IRA = 6000 (as per 2020, for below 50) Amount = 1000000 Rate of…

Q: You wish to purchase a property for $400.000. You intend to make a 20% have two mortgage choices.…

A: The issue you raised has to do with mortgage options and personal finance. under particular, it…

Q: (a) Find the down payment. The down payment is $.

A: Here, given that the building sells for $275,000 and a 4% down payment is made.Then, we have to find…

Q: 1a) Jane and John have found a house, which owing to a depressed real estate market costs only…

A: Since you have posted multiple questions, we will provide the solution to only the first question as…

Q: 5. Start saving for retirement immediately! Even a modest amount will add up in a hurry. Jay decides…

A: Above problem is a good example of annuity payments with geometric gradient , where  Annual Payment…

Q: 19. Ma. Nochna Pula borrowed $10,000 at 6% annual compound interest. She agreed to repay the loan…

A: here we calculate the amount and choose the correct option , so the calculation of the annual…

Q: A sum of £500 is placed on deposit for a year at a rate of interest of 15%. Interest is paid at four…

A: The objective of the question is to calculate the total amount on deposit at the end of the year…

Q: earns an annual interest rate of 2.75%.

A:

Q: 1. How much must you deposit each year to have $20,000 at the end of 15 years with money worth 7%?

A: Future value = 20000 $ Time = 15 years Interest rate = 7 %

Q: 3. An amortization of a debt is in a form of a gradient series of P5,000 on the first years, P4,500…

A: Present value states that an amount of money today is worth more than the same amount in the future.…

Q: 3. Your beginning salary is $60,000.00. Assume your salary increases by 5% per year. You deposit 10%…

A: here we calculate the saving in each year and last calculate the total  saving after 4 year , so the…

Q: Suppose that you can invest $11,000 in a business that guarantees you the following cash flows:…

A: Here we calculate the net present value of the investment and conclude its profitable or not and…