Callum borrowed $45,200 from a bank at an interest rate of 9% compounded monthly. This loan is to be repaid in 16 equal semi-annual installments over 8 years. Immediately after his 8th payment, Callum desires to pay the remainder of the loan in a single payment. Compute the total amounts he must pay at that time. A) $22,600.00 B) $26,609.93 C) $29,789.38 D) Answers A, B and C are not correct

Q: Don Solomon wants to set up a scholarship program with his alma mater. If #847084 is needed per year…

A:

Q: I want to save $7,400 for a down payment on a car in 24 months. How much should I deposit tod at…

A: The person wants to have $7400 at the end of 24th month so the future value is $7400F=7400Time…

Q: A sum of money invested at 12% interest, compounded quarterly, will triple in amount in…

A: Present value is the value of investment in today's dollar. Future value is the value of investment…

Q: How much must I invest today (September 21, 2022) to have P170,000 on January 4, 2024 at 2%…

A: Months between : 21 Sept 2022   To    4 Jan 2024  => 15 months 14 days  = 15.5 months approx…

Q: Andi loaned P200,000 from a local bank to be paid back uniformly in five years. How much will he pay…

A: Loan amount = 200000 Time = 5 years Interest rate = 5 % compounded continuously Effective annual…

Q: Please solve all three problem I will give you thumbs up.     Problem 1   Mrs. Doe deposits $100…

A: Note: You have uploaded multiple questions at a time. Hence, we shall solve only first one for you.…

Q: How long will it take any sum to double itself with an 11% interest rate compounded continuously? a)…

A: Continuous compounding refers to compounding interest an infinite times in a year.  The formula…

Q: What is the amount of the quarterly deposits A such that you will be able to withdraw the amounts…

A: Cash flow diagrams are useful for assessing the profitability and financial viability of projects or…

Q: 3-82. Suppose that you have just borrowed $7,500 at 10% nominal interest compounded quar- terly.…

A: Quarterly nominal interest rate = 10% / 4 = 2.5% Number of quarters = 6 x 4 = 24

Q: 490 per year to purchase equipment for his business. Complete the following table by calculating the…

A: Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other…

Q: Consider the cash flow transactions with the changing interest rates specified as depicted in Figure…

A: Net Present Worth (NPW), also known as Net Present Value (NPV), is a financial metric used to…

Q: How many months will it take to pay off a $525 debt, with monthly payments of $15 at the end of each…

A: Mortgage installments are regular payments made by borrowers to lenders to repay a mortgage loan.…

Q: An automobile loan of $15,000 at a nominal rate of 9% compounded monthly for 36 months requires…

A: An auto mobile loan of $15,000 at a nominal rate of 9% compounded monthly for 36 months requires…

Q: what is the future of P600 deposited at the end of every month for 4 years if the interest rate is…

A: *SOLUTION :-

Q: Don Solomon wants to set up a scholarship program with his alma mater. If $590746 is needed per year…

A: Perpetuity implies that the time horizon is infinite , so the question is asking about the present…

Q: What single amount at the end of the fifth year is equivalent to a uniform annual series of $3,000…

A: The present value represents the current monetary worth of a future sum, factored in by applying a…

Q: You borrow $6,500 for 90 days at 7% interest. The lender uses a 365-day year. You make a payment…

A: Principal refers to the borrowed or lend money that you originally agreed to pay or receive back.…

Q: How much interest is included in the accumulated value of $3200 paid at the end of every six months…

A: P = $3200t = 4 year(Semi annually)r = 6.5% Here, P = Principalt = Timer = Rate of interest

Q: An automobile loan of $15,000 at a nominal rate of 10% compounded monthly for 36 months requires…

A: Based on the need of question , simple mathematical calculations have to be done to find out values.…

Q: uppose you invested $1000 annualy over a 15 year period. If money earns an annual rate of  1%…

A: Following are the given values: Annuity amount, A = 1000 Time, n = 15 years Interest = 1%

Q: Hector Perez deposits $500 in a savings account. The money is left on deposit earning 4% compounded…

A: Future value will be calculated as a sum of the present value plus interest. It will be computed as:…

Q: An automobile loan of $15,000 at a nominal rate of 9% compounded monthlyfor 36 months requires equal…

A:

Q: The interest rate is 12% compounded quarterly. Which of the following is true?   a The effective…

A: Effective Interest Rate (r)=(1+in)n - 1                                             = (1+ 0.124)4 -…

Q: What equal monthly payments will repay an original loan of $1,000 in sex months at a nominal rate of…

A: Given information Original loan amount=$1000 Nominal interest rate=6% Time =6 month

Q: A bank will lend $ 10,000 to a landlord. The debt must be repaid in 24 months in monthly…

A: A loan is a monetary arrangement between two groups, a bank and a borrower. Under this…

Q: Jenny borrowed $25,000 from CITI bank at an interest rate of 12% compounded monthly. This loan will…

A: (Q)Jenny borrowed $25,000 from CITI bank at an interest rate of 12% compounded monthly. This loan…

Q: Q2. Maria loaned an amount of 100,000Php payable in 15 equal quarterly instalments. The first…

A: Compounding basically refers to an asset's ability that can generate returns that are then…

Q: What effective interest rate per year is equivalent to 17.6% per year compounded quarterly. (Give…

A: Here we calculate the interest rate per year compounded quarterly so the calculation of the…

Q: Nominal and effective interest Joe Franklin is planning to retire in 16 years. He wishes to deposit…

A:

Q: You plan to retire in 30 years and plan to contribute the same amount of money each year to your…

A: The annual withdrawal in the post-retirement period is $100,000. This continues for 20 years and…

Q: What is the amount $R that makes the two cash-flow diagrams below equivalent? The interest rate is…

A: Present value (PV) is the current worth of a cash flow at a given interest rate and time period. The…

Q: You want to borrow $25,253. You must repay the loan in 14 years in equal monthly payments and a…

A: To solve this problem, we can use the formula for calculating the monthly payment on a loan with…

Q: q4= your company borrowed sr 540,000, agreed to pay in eighteen equal monthly installments at 8%…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: RM X was invested in a scheme that pays 3.4% compounded every 2 months. After 3.5 years the…

A: Future value amount includes the principal or invested amount as well as interest .  Therefore the…

Q: just inherited $250,000 from my uncle’s estate. I would like to place that amount in the bank and…

A: Given the information: Inherited amount = $250000 Time = 15 years Interest rate = 12%

Q: 1 (1+r)" 3. Present Value: P = FV- or P = F(1+i) -n a) Find the present value of P8,000 due in four…

A: Since you have posted multiple subparts, as per the guidelines we can solve only the first 2 parts…

Q: On July 1 and September 1, you placed $2,000 into an account paying 3% compounded monthly.…

A:

Q: Find i (the rate per period) and n (the number of periods) for the following loan at the given…

A: Given: Annual interest rate = 7% Interest is compounded semi-annually. Hence, i (rate per period) =…

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…