$20,000 in a fund paying 2% per year, with monthly payments for 5 years PMT =

Q: Find the principal which amounts to $5,500 at simple interest in 5 years at 2% per annum

A: The formula for Simple interest is SI=P×R×T100, where P is the principal amount, R is the rate of…

Q: Mr. John borrows money from a friend with simple interest of 12%, find the present worth of $25,000…

A: If the interest is simple, then the formula used is A=P(1+rt), where A is the final amount, P is the…

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

A:

Q: $ 9000 loan is to be paid in 3 years at 3.6% compound interest per year, the accrued interest and…

A: =>Total amount of money to pay off the loan = Total payment at the end of first year +Total…

Q: Suppose that you decide to borrow $15,000 for a new car. You can select one of the following loans,…

A: a. Principal of loan A is P=$15000, annual interest rate r=5.9%=5.9100=0.059, time in years t=3.…

Q: Quarterly payments of P2000 for 5 years with interest rate of 8% compounded quarterly.

A:

Q: Jamie plan to make payments of $9000 into a account on the last day of this and every year until his…

A: Consider the given information.

Q: A business must pay an annuity of $ 20,000 quarterly with j4 = 5%. Calculate the semester payment to…

A:

Q: Find the saving balance after 25 years with APR 3.5% and monthly payments of $400

A: Given formula is as follows Where A is the final amount PMT is the monthly payment n is the number…

Q: $20,000 in a fund paying 2% per year, with monthly payments for 5 years PMT =

A: The objective of this question is to calculate the monthly payments (PMT) for a fund of $20,000 that…

Q: You invest $10,000 in the Big Delta mutual fund. Over 5 years, your investment grows in value to…

A: According to the given data Initial investment is $10000 After 5 years it becomes $17320 That means…

Q: Calculate the simple intrest for $2400 borrowed for 2 years at 4% per annum

A:

Q: Suppose that you borrow $13,000 for four years at 6% toward the purchase of a car. Find the monthly…

A:

Q: Find the principal for a loan that has earned interest of $5500 with an annual rate of 10% for 5…

A:

Q: If $600 is borrowed and the interest after 24 months is $120, what is the annual interest rate for a…

A: Solution

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

A:

Q: find simple interest on $1250 for 10 months at 12%

A: To find simple interest on $1250 for 10 months at 12%

Q: Find the saving balance after 15 years with an APR of 3.2% and monthly payments of $200

A:

Q: How much is the cash value of the car if the interest used is 12% monthly?

A: Given:monthly payment =17,000 Interest rate=12% Formula used: PV annuity=P×1-1+I-nI

Q: $1,100 is deposited quarterly for 20 years at 5% per year. FV =

A: The problem requires the determination of the future value of an annuity. The future value of an…

Q: f a car valued at R255000 depreciates on a reducing balance method at an interest rate of 12.5% p.a…

A: Given that: Time period = 7 years Interest rate = 12.5% per annum  Current value of the car =…

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: Given:  you borrow $10,000 for four years at 8% toward the purchase of a car To determine; The…

Q: if you borrow $1200 at an add on rate of 5% for 4 years how much is the monthly payment

A: Given that: Principle(P) is $1200, rate of interest(r) is 5% and time(t) is 4 years. The amount can…

Q: Mrs. Wilson borrowed $5,760 from a bank at 8.25% per annum simple interest for 9 months

A: Given: Mrs. Wilson borrowed $5,760 from a bank at 8.25% per annum simple interest for 9 months. To…

Q: An amount of $1547 is borrowed at a discount of interest rate of 8% and the length of of the loan is…

A: Total amount borrowed=$1547 Interest rate of discount=8% Since amount is borrowed for 7 months Total…

Q: Determine the interest earned if $5000 is invested at 4.3% simple interest for 9 years.

A: We have direct formula for simple interest.

Q: how much should you set aside and invest in a fund earning 9 compunded accumulated 200000 in 3 years…

A: Given, Total accumulated wealth= 200,000Rate, R= 9%=0.09Time ,t=13 ( quarterly ) To find: Amount to…