DE WEEKLY Present Value Payment Amount Future Value Annual Interest Rate Periods (number of payments) Compounding Calculate Total Interest paid: 32,000 0 Bi-weekly

Q: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: Quarterly withdrawals of $850 for 7 years; interest rate is 4.9% compounded quarterly. Find the…

A: The formula is:A=P1+r4004Twhere P=principal amountr=rate of interestT=time

Q: Determine the value of an account after 10 years if a principal amount of 11000 was deposited with…

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Q: Peter purchased a cottage for $360,000. He paid $32,500 down and agreed to make equal payments at…

A: Solution-The price of the cottage =$360000Down payment=$32500Rate(r)=3.2% or 0.032Time(t)=8…

Q: Find the amount borrowed if $800 is due at the end of 7 months when an annual simple interest rate…

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Q: Assume that you make quarterly payments of $ 750 into an annuity paying 5% interest compounded…

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Q: Find the principal if the interest is 18,000 with a rate of 9% at term of 4 years.

A: Given:          Rate of interest (r) = 9 %          Simple interest (SI) = 18,000          Time…

Q: $102 is invested in an annuity at the end of every month at 8.5%.  Find the value of the annuity at…

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Q: principal = $1500, compounded daily, 1 year, annual rate = 6%

A: Given that, Principal = $ 1500 It is compounded daily for 1 year Annual rate = 6%   As we know  The…

Q: Rick deposited $1500 into his saving account every month for 8 years. How much money does Rick have…

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Q: Calculate the amount in an account at the end of one year if the account starts with the principal…

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Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: Find the effective rate of interest.; For 6% compounded monthly

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Q: You take out a loan to purchase a car for $7600. The bank offers you 3.8%, compounded monthly for 4…

A: Interest = $ 26525.22

Q: Find the cost of purchasing an annuity that pays $25,000 per year for 20 years. The interest rate is…

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Q: David plans to purchase a motorcycle. He needs to borrow $7500 and interest is 8% per annum…

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Q: Jennifer earned $ 42.55 interest over the period of 146 days on a term deposit that pays 5.75 % per…

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Q: You put $500 into an account paying 2% compounded monthly. What size can you withdraw at the…

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Q: USE SIMPLE INTEREST TO FIND THE ENDING BALANCE   $1, 300 AT 5 % FOR 6 years

A: Find ending balance

Q: A couple buys a condo for $310,000. After a 20% down payment, they take outa 30-year mortgage at 7%…

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Q: principal = $20,000, compounded quarterly, 3 years, annual rate = 12%

A: We have been given the principal = $20,000, compounded quarterly, 3 years, annual rate = 12% = 0.12

Q: $1,000 for 5 years at 3% compounded quarterly

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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: Jason deposits $ 5000 into his savings account at the end of every 3 months for 4 years. For the…

A: Please see the attachment

Q: Kevin takes out a $350 000 mortgage for 30 years at 2.05% annual interest compounded quarterly. His…

A: The EMI i.e. the monthly payment required to be done by Kevin includes the interest component to be…

Q: $10,000 put in bank account for 40 years at 3% interest, compounded monthly?

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Calculate the amount of SIMPLE interest earned on an investment of $1000 at 4% for 6 years

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Q: Barrack buys a car costing 25600 $. He agrees to make payment at the end of each monthly period for…

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