How much money should be deposited today in an account that earns 5%compounded semiannually so that it will accumulate to $7000 in 2 years?(Round to the nearest pen ny - hundredth place. For example, $123.46)A= PCI)7006 PCIntCI+a a700U P(I 0.037000 PCIPC it 00116667) ayOO41666667OOL7, 7a 6. 6 C7a6.67,726 64- 7/000ndhe depested

Let P be the amount to be deposited today.r = rate per annum = 5%m = frequency of compunding in a…

Answered: How much money should be deposited…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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How much is the loan amount if you need to borrow $350,000 for one year with 9% single payment interest and a 15% compensating balance. * O 326086.96 O 315000 O 3750000 O 411764.71 O 24000
What is the present value of 6 annual payments of $6,340 each with the first payment being received immediately? Assume you can invest money at a 7.75% pa.. but with semiannual compounding . Record your answer as a dollar amount rounded to 2 decimal places , but do not include a dollar sign or any commas in your answer . For example , enter $ 12,327.24987 as 12327.25 .
Ma1. An insurance company advertises that $2,483.76 will purchase a 8 year annuity that pays $200 semi-annually at the end of the period. What quarterly compounded rate of return does the investment earn? Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56% Rate of return = 0.00%
If you deposit RM15,00O in an account earning 18% with quartely compounding how much would you have in the account after 6 years? A. RM43,140.21 B. RM32,768.89 C RM41,657.90 D RM11,265.90
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Suppose you deposit $1,016.00 into an account 4.00 years from today. Exactly 13.00 years from today the account is worth $1,741.00. What was the account's interest rate? Submit Answer format: Percentage Round to 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex. 0.09243))
1. Calculate what $900 would grow to at 6% per year compounded daily for 5 years. (Use the Table 12.2.) Note: Round your final answer to the nearest cent. Amount:??? TABLE 12.2 Interest on $1 deposit compoundedâ€”daily-365-day year Year 1% 2% 3% 4% 5% 6% 7% 8% 1 1.0101 1.0202 1.0305 1.0408 1.0513 1.0618 1.0725 1.0833 2 1.0202 1.0408 1.0618 1.0833 1.1052 1.1275 1.1503 1.1735 3 1.0305 1.0618 1.0942 1.1275 1.1618 1.1972 1.2337 1.2712 4 1.0408 1.0833 1.1275 1.1735 1.2214 1.2712 1.3231 1.3771 5 1.0513 1.1052 1.1618 1.2214 1.2840 1.3498 1.4190 1.4918 6 1.0618 1.1275 1.1972 1.2712 1.3498 1.4333 1.5219 1.6160 7 1.0725 1.1503 1.2337 1.3231 1.4190 1.5219 1.6322 1.7506 8 1.0833 1.1735 1.2712 1.3771 1.4918 1.6160 1.7506 1.8963 9 1.0942 1.1972 1.3099 1.4333 1.5683 1.7159 1.8775 2.0543 10 1.1052 1.2214 1.3498 1.4918 1.6487 1.8220 2.0136 2.2253
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What is the quarterly payment on a loan of $22,000 for 5 years at i= 8% per year, compounded semi-annually? Assume that interperiod cash flows earn compound interest (ABET, SO1) Select one: O a. 1220 O b. 1342 O c. 1281 O d. 1403 O e. 1464
you deposit OMR 8141 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money If in 5 years. Select one: O a. 11961.57 O b. All the given choices are not correct O c. 12050.63 O d. 9904.75 O e. 17575.60
Find the total amount that must be repaid on the following note described. $8,593 borrowed at 18.5% simple interest What is the total amount to be repaid 3 years, 125 days later? (Round your answer to the nearest cent.) $ 13906.53 Need Help? Read It

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