Q: How much money will be in a bank account at the end of 15 years if $100 is deposited today and the…
A: Compounding interest means the interest is calculated for the principal and after each period the…
Q: Explain the true effect of more frequent compounding on annual interest amounts?
A: With more frequent compounding, the returns are higher. With the increase in compounding periods,…
Q: A bond with a face value of $4,000 pays quarterly interest of 1.5 percent each period. Thirty-four…
A: Given, P= $4000 ROI- 2%
Q: 1. Twenty percent when compounded quarterly will have an effective rate of
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: What is the future value of $3,000 saved for 6 years at 4% interest
A: FV = PV ( 1 + r )^t FV = Future value PV = present value i = interest rate compounded annually t =…
Q: 43. Find the equivalent rate of interest of 9% compounded quarterly to an interest rate compounded…
A: Given interest rate = 9 % compounded quarterly Effective annual rate = (1 + rate)^time - 1 = (1 +…
Q: Annabelle loaned a certain amount from ABC bank. She agrees to pay P5000 at the beginning of each…
A: Pay = 5000 time Period = 6 years. interest rate = 10% compounding quater
Q: How long will it take for $5,000 to double when invested at 8% compounded quarterly?
A: Formula for compound interest is A = P(1=r/n)^(tn) Where n is the compounding frequency P is the…
Q: Compared the interest earned by $13,000 for seven years at 8% simple interest with interest earned…
A: Given: Principal amount ( P) = $13,000 Interest rate(r) = 8% Time(t) = 7 years
Q: Hunan bought a car priced at $15,800 for 15% down and equal monthly payments for four years. If…
A: Monthly payments refers to a borrower pays down some of the outstanding balance with interest and…
Q: Sam promises to pay Sandy $2,000 in four years and another $3,000 four years later for a loan of…
A: Interest rate: The real interest rate is the rate of interest that is being calculated in an economy…
Q: A bank is advertising 9% accounts that yield 9.344% annually. How often is the interest compounded?…
A: Solving with explanation
Q: How long should ₱50,000 be invested at 6% compounded semi-annually if it should earn an interes
A: Principal amount is given which is equal to 50,000. We are required to find out the number of years…
Q: Ben Franklin's gift of $3,000 to New York City grew to $2,000,000 in 200 years. At what interest…
A: Given Ben Franklin's gift initial value (P)= $3000 Value of gift after 200 years (F) = $2,000,000…
Q: An investor needs 41,000 in 15 years. What amount should be deposited in a fund at the end of each…
A: Fund: It refers to the amount of that is deposited by people at various places that provides them…
Q: 1. How many years will a deposit triple itself at an interest rate of 7% per annum compounded…
A: Hi! Thank you for the question, but as per the guidelines, we answer only one question at one time.…
Q: 2. Which of the following gives the lowest effective rate? A. 12.35% compounded annually B. 11.9%…
A: Effective annual interest rate formula: reff = (1 + r /n)n - 1 Where refff is an effective interest…
Q: 8% of the nominal interest rate; Calculate the 3-month effective interest rate for a) compounded…
A: Solution: Effective Interest Rate: It refers to the interest rate on loan or financial products…
Q: Approximately how long will it take a deposit to triple in value if money is worth 12 % compounded…
A: here we can calculate how long will it take a deposit to triple in value as follow
Q: Find the equivalent rate of interest of 9% compounded quarterly to an interest rate compounded…
A: Given interest rate = 9 % compounded quarterly quarterly rate = 9/4 = 2.25 % effective interest rate…
Q: A person deposits a sum of $20,000 at the interest rate of 18% compounded annually for 10 years.…
A: Given information: Deposit amount = $20000 Interest rate = 18% Time period = 10 years
Q: How much loan will be extinguished for a monthly amortization of ₱4,500 at 12% interest compounded…
A: Formula to be used: Compound interest (PN)=PO1+rKNKPN=Balance after n yearsN=YearsPO=Principal…
Q: How long will it take the money to triple itself if invested at 8% compounded annually
A: interest rates are the rates at which the investment will be calculated and returns will be…
Q: How much do ten ₱ 5,811 quarterly payments amount at present, if the interest rate is 2 compounded…
A: Given the quarterly payment = 5811 Interest rate = 2%/4 = 0.5% Number of compounding period = 10
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: What simple interest rate (in %) is equivalent to 5% compounded quarterly if money is invested for 9…
A: Answer to the question is as follows
Q: If you had BD 4,500 now and invested at 13% interest compounded annually, how much would it be worth…
A: Investment Amount = 4500 r = 13% n = 8
Q: 1.What is the accumulated amount of an annuity paying P30,000 at the end of each year for 7 years…
A: We are authorized to answer one question at a time, since you have not mentioned which question you…
Q: At a certain interest rate compounded quarterly, P1T will amount to $5T in 10 years. What is the…
A: Given Present value P=$1T Future value F= $5T Time = 10 years We have to calculate the rate of…
Q: Which of the following has the least effective annual rate of interest? 12.30 % compounded annually…
A: The value of effective rate of interest depends upon the componding period.
Q: Compute the future value of the following deposits made today:a. $10,000 at 6.75% compounding…
A: a. To determine $10,000 at 6.75% compounding annually for 10 years
Q: e interest rate on an account is 11.5% compounded yearly, approximately how many years will it take…
A: The formula is used to calculate the number of years : Here "A" is the amount in the account after…
Q: How many years will it take an investment to triple if the interest rate is 8% compounded…
A: Compound interest refers to the adding of interest to the principle amount of a loan or deposit, or…
Q: Suppose you take out a car loan of $15,000 with an interest rate of 15% compounded monthly. You will…
A: Hello, thanks for the question. Since there are multiple subpart questions posted here, as per the…
Q: How much will be in a bank account at the end of five years if $2000 is invested today at 12 percent…
A: Answer: Given, Principal = $2000 Interest rate per annum = 12% Number of years = 5 The following…
Q: 1) What is the present value of the following series of payments: $500 made at the end of every year…
A: Given an exact rate of come, gift price (PV) is that the current price of a future add of cash or…
Q: Suppose you make equal quarterly deposit of $ 1,000 into a fund that pays interest rate of 12%…
A: Quarterly deposit = 1000 Interest = 12% Balance at the end of 3 years = ?
Q: What effective annual interest rate corresponds to the following situations? a. nominal interest…
A: a) Given data: Nominal interest rate i=5% Compounded semi annually.
Q: What interest rate compounded monthly is equivalent to 10% effective rate?
A: Effective rate = 10%
Q: How much is accumulated in each of the savings plans over two years? a. Deposit €1300 today at 10…
A: Compounded annually formula: A = P (1 + r)t Where A is the future value P is the principal amount…
Q: What is the accumulated value of a $25 payment to be made at the beginning of each of the next three…
A: PMT = 25 n = 3 r = 9%
Q: What effective annual interest rate corresponds to the following situations? nominal interest rate…
A: a. Effective annual interest rate = 1+inn-1=1+5%22-1=1+0.0522-1=1.0252-1=1.050625-1=0.050625=5.0625%…
Q: 42. Find the equivalent rate of interest of 9% compounded quarterly to an interest rate compounded…
A: Given interest rate = 9 % compounded quarterly Quarterly rate = 9 % / 4 = 2.25 % Annual effective…
Q: How much is accumulated over two years in each of the following savings plans? a. $60 at the end of…
A: Accumulated deposits refers to the sum that is to a member's credit as a result of the deposits that…
Q: ow long (in years) will it take to quadruple it earns 0.08 compounded semiannually?
A: Given interest rate = 8 % compounded semiannually Semi annual rate = 8 / 2 = 4 % The rule of 144 As…
Q: how long does it take for an investment to double at 1.4% compounded continuously
A: Continuous compounding is the numerical furthest reaches that accruing funds can reach if it's…
Q: How long will it take $ 50 to be four times its value if invested at the rate of 7% compounded…
A: Interest, is that the adding of interest to the corpus of a loan or deposit. it is the outcome of…
Q: If you are LOANING money to another party, would you prefer to offer a 12% interest rate compounded…
A: In economic and financial transactions, an individual will always prefer an alternative that gives…
Q: What is the accumulated amount of a 7-year annuity paying ₱ 1,520 at the end of each year, with…
A: Given: Annuity=1520 Interest rate=2% Number of years=7 To find: Accumulated amount
Q: What is the present equivalent of $18,000 to be received in 15 years when the interest rate is a.…
A:
9. Accumulate $ 300 for nine years at 6% compounded quarterly. What is the compound interest earned?
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- The united Bank advertises 9.5% account that yields 9.84% annually. Find how often the interest is compounded. Select one: a. Annually b. Bimonthly c. Quarterly d. MonthlyIf you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal annual payments. How much of the total amount repaid is interest? How much of the third annual payment is interest, and how much principal is there? If you decided to pay off your loan after the third payment, how much will you pay?If you are investing your money, which is better? 13% compounded quarterly 13% compounded semiannually 13% compounded monthly 13% compounded annually Thank you.