Effective rate of interest Engr. Roxas plans to deposit P20,000 in the bank now and P20,000 after 2 months. If he plans to withdraw P40,000 after 6 months from the day of first deposit, what will be the remaining balance in his account after 1 year from his second deposit? Interest rate is 10% compounded semi-annually.

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A: Future value is an estimate of future cash flows ​​that may be received at a future date, discounted…

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Q: Derek can deposit $266.00 per month for the next 10 years into an account at Bank A. The first…

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A: Time period = 2 years  Interest rate = 8% Compounded = semi-annually  Semi-annual deposits =$800

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A: Annual withdrawal = 12150 Monthly withdrawal (P) = 12150/12 = 1012.50 Period = 4  Years Number of…

Q: 7. If you want to collect ¢ 5,000,000 in 4 years and for this you make deposits every end of the…

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A: PVA formula: pvadUE =A×1-11+RNR×1+R

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A:

Q: Single-payment loan repayment Personal Finance Problem A person borrows $100 that he must repay in a…

A: As per the time value of money concept, FV=PV∗(1+i)nwhereFV = Future value = Amount due in futurePV…

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A: Given information :