A series of equal end-of-quarter deposits of $1,000 extends over a period of three years. Compute the future worth of this quarterly deposit at 12% compounded monthly.
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- Complete an amortization schedule for a $31, 000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 8% compounded annually. Round all answers to the nearest cent.A series of equal quarterly payments of $2,500 extends over a period of four years. What is the present worth of this quarterly-payment series at 8% interest compounded continuously?A loan of $1,000 is made at an interest rate of 11% compounded quarterly. The loan is to be repaid with three payments: $ 400 at the end of the first year, $ 600 at the end of the fifth year, and the balance at the end of the tenth year. Calculate the amount of the final payment. Final Payment
- Determine the present value of a series of 30 quarterly payments of $3,500 each which begins one monthfrom today. Assume interest of 8.25 percent per year compounded monthly.Find the compound amount for the following deposit. $16,000 at 5% compounded quarterly for 10 years. The compound amount after 10 years will be $ (Round to the nearest cent.)A loan of $92,800.00 is repaid by equal payments made at the end of every three months for 3 years. If interest is 8% compounded quarterly, find the size of the quarterly payments and construct an amortization schedule showing the payment number, amount paid, interest paid, principal repaid and outstanding principal balance of each payment. Additionally, include the totals for amount paid, interest paid and principal repaid of the loan.
- A deposit of $2500 is made into an account drawing 3.6% interest compounded monthly. Find the future value 15 years after the initial depositA debt of P17,800 is amortized by making equal payments at the end of every six months for three years, and interest is 7.25% compounded semi-annually. Construct an amortization schedule.A loan of $ 7000 is to be repaid in 46 equal monthly installments with the first one paid seven months after the loan is made. The nominal annual interest rate is 8 % compounded quarterly. Determine the amount of the monthly payment
- A loan is amortized over five years with monthly payments at a nominal interest rate of 12% compounded monthly. The first payment is 1,000 and is to be paid one month from the date of the loan. Each succeeding monthly payment will be 1% lower than the prior payment. Calculate the outstanding loan balance immediately after the 20th payment is made.The amount of $7,000 is invested in a certificate of deposit (CD) and will be worth $16,000 in nine years. What is the continuously compounded nominal (annual) interest rate for this CD?Determine the value of an ordinary annuity if $290 is deposited each month into an account earning 4.5% interest compounded monthly for 15 years.