How much did Jack withdraw every 6 months ?

Q: Mark borrowed an amount of 10,865 from Brian and after 3 years, he borrowed again an amount of…

A: Equation of value : It is a concept where a sum of money has different values at different times.…

Q: Cliff deposited $9,000 in a brokerage account, and 10 years later he closes out the account, which…

A: Present Value = pv = $9000Time = t = 10Future Value = fv = $20,500

Q: During a 3-year period when his business was prospering, Jack was able to deposit $1,000 at the end…

A: The future value of an annuity is the future worth of a cash flow series at a certain interest rate…

Q: Fred owes $5,000 due in three years and $8,000 due in 11 years. Unfortunately, Fred is unable to…

A: Simple interest is simply the interest on the principal amount for the years of principal being…

Q: per annum rate of simple interest?

A: Interest is earned on principal invested for a given time at a predetermined rate. However, many…

Q: Mack Aroni, a bank robber, is worried about his retirement. He decides to start a savings account.…

A: The future value of an annuity is the future worth of a series of cash flows at a certain rate of…

Q: A woman deposited $ 10,000 into her bank account. The money remained in the account for 10 years.…

A: Compound interest is referred as the interest which is calculated on principal amount which involves…

Q: Jeremiah opened a savings account with $1,500 that earns 8.5% annual simple interest. He made no…

A: Present Value = pv = $1500Interest Rate = r = 8.5%Time = t = 6 Years

Q: (5)

A: The objective of the question is to find out the original investment made by Victor in his savings…

Q: Carol and Amy Glaser recently divorced. As part of the divorce settlement, Carl must pay Amy $1000…

A: The term "present value" (PV) refers to the value at the current time of a quantity of money or…

Q: Please i need full details solution with explanation.

A: The objective of the question is to find out the original investment made by Victor in his savings…

Q: Sven accumulated $10,500 in credit card debt. If the interest rate is 3.45% per year and he does not…

A: Compound interest can be defined as the addition of interest to the principal balance. It can be…

Q: Starting on July 1, 2000, Peter borrows $7,600.00$7,600.00 each year for 4 years from his dear Aunt…

A: Interest is the amount which is charged on the loan amount on the outstanding balance. Given in the…

Q: Bozo owes $5000 due in one year and $7,000 due in seven years. Unfortunately Bozo is unable to meet…

A: Loans are financial arrangements wherein one party lends funds to another with the expectation of…

Q: Dominique Fouque owns and operates Dominique’s Doll House. She has a small shop in which she sells…

A: Hi student Since there are multiple subparts, we will answer only first three subparts. If you want…

Q: Tyler received a total of $4,000 as loans from his aunt Meagan. After two years, Tyler paid $2,000…

A: A loan refers to a contract where money is borrowed by one party from the other on the promise of…

Q: Stéphanie visited a financial institution and signed a 12-year, non-interest-bearing promissory note…

A: Time period of promissory note is 12 years or 12×4=48 Quarters Interest rate is 3.15% compounded…

Q: Twelve years ago, Mr. Lawton rolled a $33,000 retiring allowance into an RRSP that subsequently,…

A: Initial amount, PV = $33,000  Interest rate = 11.6% Period = 12-3 = 9 years Semi annual Interest…

Q: Caleb's duplex sold at a foreclosure auction for $140,000. At the time of foreclosure, he had not…

A: A loan is an amount given by the lender to the borrower at an agreed interest rate for a defined…

Q: Ben incurs a debt of $2500 with an annual interest of 24%. This is a monthly rate of 24/12 = 2%.…

A: The interest on loan is directly charged as simple interest is charged. Generally, the interest is…

Q: The purchaser of a car paid $10,000 cash and agreed to pay $3000 at the end of 6 months for 10…

A: Calculate the future value of the annuities (PMT) that are not paid till the end of 3rd Year.…

Q: Please help me , I need full details solution with explanaton.

A: The objective of this question is to find out the original investment Victor made in his savings…

Q: Bozo owes $4000 due in one year and $8,000 due in six years. Unfortunately, due to lack of…

A: Future value formula will be used to calculate amount payable at end of time period. Future value =…

Q: Julia Roberts deposits 4600 dollars in an account paying an effective rate of interest of 5.2…

A: Simple Interest formula is  Amount = Principal + (Principal*rate*time)

Q: While buying a new car, Ryan made a down payment of $1,200 and agreed to make month-end payments of…

A: Solution 1: Ryan's Car PurchaseGiven:Down Payment: $1,200Monthly Payment: $320 for 3 years and 6…

Q: During a 3-year period when his business was prospering, Jack was able to deposit $1,000 at the end…

A: The time value of money states the money depreciates its value over the period of time and it has…

Q: The Walters accumulated ​$285,000 during more than 40 years of work. They originally deposited…

A: Annual income refers to an amount that is earned as a return over an investment amount by the…

Q: For 30 years, lilly contributed $180 every month to savings accountthat earns 1.6%…

A: Balance at the end of 45 years will be future value of monthly savings

Q: At the year end, Harold has a receivables balance of $100,000 and an allowance for receivebles of…

A: Allowance Method - Under allowance method company make provision of uncollectible accounts at the…

Q: Mrs. Jenny bought an upper-class lot costing 1.23 Million $. The car agency asked for a downpayment…

A: Cost of upeer class lot is 1.23 million $ Downpayment is $320,200 Payment after one year is $624,400…

Q: ray flagg took out a 60-month fixed loan of 12000 to open a new per store. he paid no money down and…

A: An installment loan is a type of  loan in which regular payment is made to lender with the same…

Q: Mitt was injured by a bus called “Move Forward.” He won a lawsuit and will receive $10,000 per…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…