Calculate the compound amount from the given data: principal = $7000, compounded semiannually, 8 years, annual rate = 8% O $9579.98 O $11,480.00 O $13,110.87 O $12,956.51 %3D

Q: The following certificate of deposit (CD) was released from a particular bank. Find the compound…

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Q: Find the APY of 14.9% compounded yearly, semiannually, monthly, and daily.

A: We want to find the APY of 14.9% compounded yearly, semiannually, monthly and daily.

Q: Find the APY corresponding to the following nominal rate. 4% compounded quarterly The APY is%. (Type…

A: Nominal rate = 4%  Frequency= 4  (quarterly)  We have to find the Annual Percentage Yield.

Q: Rachel purchased a car for $23,900; she paid 20% of the cost as a down payment and financed the…

A: The compound interest formula for an initial amount of P at a rate of r%, for t years compounded n…

Q: Bank Co. is offering savings account rates at 2.5%, compounded quarterly.  What is the APY for money…

A: We have to find APY for money deposited in this bank under given conditions.

Q: The payment on a 15 year loan at 9.36% compounded weekly is $180.00. Calculate the amount of the…

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Q: What is the annual percentage yield for an account with a nominal interest rate of 12%, compounded…

A: The formula for annual percentage yield is, APY = (1 + i/n)n – 1, where I is the nominal interest…

Q: principal: $17,300 interest rate: 20% compounded quarterly calculate the effective rate (apy) of…

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Q: Calculate the compound amount for P = $1500 , r = 6.25% , compounded quarterly for 5 years.

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Q: $450 is deposited at the end of each quarter for 1.5 years at 10% interest per year compounded…

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Q: Bryan secured a 6-year car loan at 6.20% compounded annually that required her to make payments of…

A: The cost of the car is approximately $47,445.76.Explanation:To calculate the cost of the car, we…

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: Determine the present value of £100 due in two and a half months at 10.3% p.a. compound interest.

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Q: Eighteen years ago, Mr Chan started a savings account for his daughter so that she would receive $25…

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Q: A new piece of equipment is financed with payments of $8750 at the end of each year for 48 months.…

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Q: $9,000 for 3 years at 4.25% compounded monthly

A: Given:             Present value is P=$9000.             Time in years is t=3,             Rate of…

Q: Determine the accumulated balance: $5000 invested in a bond that earns interest at an APR of 3.9 %…

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Q: Is 1000 dollars compounded at a nomial rate 10% daily better than 1000 dollars compounded at a…

A: We can explain the answer as below.

Q: Find the compound amount for the following deposit. $13,000 at 7% compounded quarterly for 9 years.

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Q: Marisa wishes to accumulate 20,000 by means of monthly deposits of 800 into a fund at the end of…

A: Here payments are done more frequently than the frequency of compounding so we need to first…

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: xander received a $22,950 loan from a bank that was charging interest at 4.25% compounded…

A: The loan amortization formula iswhere A is the period payment, P is the loan amount, i is the…

Q: principal = $50,000, compounded quarterly, 10 years, annual rate = 9.5%

A: Consider the given information Principal p=50,000n=4t=10r=9.5% Use compound interest formula Amount…

Q: Find how much money will be in the account after the given number of years (Assume 360 days in a…

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Q: What is the accumulated sum of the following stream of payments? $2,251 every year at the end of the…

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Q: $1,250

A: Please refer to the image below

Q: Determine the interest to be paid from a loan of $6560 borrowed at 5.1% compounded quarterly for 4…

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