company borrowed $100000 from a bank at an interest rate of 10% compounded monthly. The loan will be repaid in 36 equal monthly installments over three years. What is the amount of this monthly installment payment?”

Q: Jack borrowed $10,000 from Mr. Jill on July 11, 2018 and promised to pay it by December 21, 2018.…

A: Given the borrowed amount = $10000 Interest rate = 15% Total number of days between the given months…

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: If you invest $4,000 at 3% interest compounded monthly, how long will it take you to reach $5,000 ?

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

Q: You deposit $5000 each year into an account earning 8% interest compounded annually. How much will…

A: Uniform annual deposit (A) = $5000The interest rate on the deposits is 8% compounded annually. So i=…

Q: You deposit $2000 in an account earning 8% interest compounded continuously. How much will you have…

A: When you earn compound interest, you earn interest on both the money you've saved and the money…

Q: What single payment at the end of year 5 is equivalent to an equal annual series of payments of 600$…

A: Present value: It means the current value of the future sum of money for a specific rate of return.

Q: A series of equal quarterly payments of $5,000 for 10 years is equivalent to what present amount at…

A: Payment made quaterly = $5000 The time period for which the payment was made = 10 years Interest…

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: If P500,000 is deposited at a rate of 11.25% compounded monthly, determine the compounded interest…

A: The formula used in the compound interest is  =P[1+(r/m)]mt-P A = the future value of the…

Q: What is the present value of a series of 6 payments of $5,000 each at 7.25%compounded annually?

A: here series of payment of $5000 is made at each year at constant interval, this is called the…

Q: If you invest $150,000 at an interest rate of 10% compounded annually, what is your total balance…

A: The interest rate is the income earned by the investment in the economy. When the money is invested…

Q: What will be the amount accumulated by each of these present investments? a) $5,635 in 10 years at…

A: Compound interest refers to interest calculated on the principal amount + the amount of interest…

Q: How many quarters will it take to triple an initial investment at an interest rate of 14% compounded…

A: The interest rate is the amount a lender charges a borrower and is a percentage of the…

Q: How many years will it take for an amount of $2500 to triple is invested at an interest rate of 6%…

A: The interest rate is the amount a lender charges a borrower and is a percentage of the principal the…

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: A credit card company wants your business. If you accept their offer and use their card, they will…

A: Annual Transactions = 23000Proportion saved to deposit = 1.5%Deposit made annually = 0.015*23000 =…