Q: What is the amount of interest earned on $2,000 for five years at 10% simple interest per year?
A: here we calculate the interest earned by simple interest so the calculation as follow-
Q: .If the rate of interest is 8% compounded quarterly, find the nominal rate of interest.
A: Answer is given below
Q: What is the future value of $3,000 saved for 6 years at 4% interest
A: FV = PV ( 1 + r )^t FV = Future value PV = present value i = interest rate compounded annually t =…
Q: Would you rather have $1,000 today or $1,250 in 3 years at a 8% annual interest rate compounded…
A: Future value can be calculated by using the following formula.
Q: Suppose that $12,000 is placed in a bank account at the end of each quarter the future worth at the…
A: Given that, Bank deposit = $12,000 Rate of interest (i) = 8.5% Quarterly interest rate = 8.5%/4 =…
Q: Interest can be computed more frequently than one time a year Select one: O True O False
A: Interest is the price of money that is borrowed.
Q: How long will it take for a money to quadruple itself if invested at 12% simple interest rate.
A: The future value in the case of simple interest is calculated by the following formula. A = P ( 1 +…
Q: Assuming an interest rate of 10% compounded annually, answer the following questions:(a) How much…
A: a.) The number of loans from now can be calculated as follows: Thus, the present worth of an…
Q: If you borrow $3,000 at 6% simple interest per year for seven years, how much will you have to repay…
A: Answers Q1. Option (b) is correct Here we need to use the simple interest formula as below:…
Q: Find FV: You have $2,000 in a savings account that earns 1.5% interest per year. What will be the…
A: Future value is the value of an asset present at a future date based on an expected growth rate…
Q: What is the amount of 10 equal annual deposits that can provide five annualwithdrawals, when a first…
A:
Q: An investment of $3523 is made at the beginning of each month for 5 years and 10 months. How much…
A: Total months(n) =years*12+months=5*12+10=70 interest rate per month (r)=1% Amount invested per month…
Q: In how many years will $1,500 yield an interest of $200 at 2% simple interest?
A: given that, The principal sum is $1500 simple interest is $200 rate of interest is 2%
Q: How much money do you need to deposit in a bank each month if you are planning to have $5000 in four…
A:
Q: 2. What is the future worth of #10,000 invested every month for five years at 8% interest rate…
A:
Q: How many years will it take an investment to triple if the interest rate is 8%compounded(a)…
A:
Q: Which is the better investment, a fund that pays 5% compounded annually or one that pays 4.8%…
A: Discretely compounded interest is determined and added to the head at explicit spans (e.g., every…
Q: 4. At what rate of simple interest will the sum of money double itself in 6 years.
A: Simple interest is determined by multiplying the day to day interest rate by the principal, by the…
Q: A series fequal quarterly payments of $5,000 for 10 ears is equivalent to what present amount t an…
A: here we calculate the given by following method as follow;
Q: How much do ten ₱ 5,811 quarterly payments amount at present, if the interest rate is 2 compounded…
A: Given the quarterly payment = 5811 Interest rate = 2%/4 = 0.5% Number of compounding period = 10
Q: Suppose you were promised $400 three years from now and $600 at the end of five years. How much is…
A: Here, we calculate the worth at 12% interest as follow;
Q: 17. What is the effective annual interest rate if the nominal interest rate is 6%, compounded…
A: Formula used - Effective annual interest rate = (1 + (nominal rate / number of compounding periods))…
Q: If you borrow $ 30,000 at 6% simple interest per year for seven years, how much will you have to…
A: Simple Interest = (Principal * Rate * Time) / 100 ie SI = (P * R * T) / 100 Amount = Principal +…
Q: What simple interest rate (in %) is equivalent to 5% compounded quarterly if money is invested for 9…
A: Answer to the question is as follows
Q: Jamie saves P4000 every three months in a bank that pays 0.85 compounded monthly. How much will be…
A: Given: The principal amount is = P4,000 The interest rate is = 0.85% compounded monthly Time period…
Q: You were entitled to receive $5,000 at the end of six months for the rest of your life. If the…
A: (Q) You were entitled to receive $5,000 at the end of six months for the rest of your life. If the…
Q: How much do eight ₱ 64,055 quarterly payments amount at present, if the interest rate is 2…
A: Given: Quarterly payments(A)=64055 Interest rate compounded quarterly(i)=2% Number of quarterly…
Q: 3 You are considering investing $3,000 at an interest rate of 8% compounded ar ally for five years…
A: Compound Interest: Compound interest and simple interest are different, because in compound…
Q: How many years will it take an investment to triple if the interest rate is 8% compounded…
A: Compound interest refers to the adding of interest to the principle amount of a loan or deposit, or…
Q: 4. Calculate the present value of $8,000 duc in 4 years if interest is compounded annually at 3%.
A: Present value states that an amount of money today is worth more than the same amount in the future.…
Q: Cory Manciagli is planning to retire in 20 years. Money can be deposited at 6% compounded quarterly.…
A:
Q: Suppose that $12,000 is placed in a bankaccount at the end of each quarter over the next 15years.…
A: A. Future value when compounded quarterly=A1+rn-1rInterest rate,…
Q: The Weidmans want to save $35,000 in 4 years for a down payment on a house. If they make monthly…
A: Interest is an amount of payment that is generally paid on a deposit or lent money by the financial…
Q: How much do eight P 76,990 quarterly payments amount at present, if the interest rate is 3…
A: Given information, Annuity (A): ₱ 76,990 Interest rate (i): 3% Time period (N): 8 (8 equal…
Q: 1) What is the present value of the following series of payments: $500 made at the end of every year…
A: Given an exact rate of come, gift price (PV) is that the current price of a future add of cash or…
Q: Suppose that you invest $1,000 for 1 year at 18% compounded monthly. How much interest would you ear
A: Given information: Investment amount = $1000 Time period = 1 year Interest rate = 18%
Q: Calculate interest on a 90-day $5,000
A: Given, Time = 90 days (consider 360 days in a year) Interest = 11% Principal = $5000
Q: What is the current value of a P 200.00 annuity be made at the beginning of each year, for 3 years…
A: Since the Annuity is made at the beginning of each year, so the formula for present value is: PV= z…
Q: Liz plans to deposit $20,000 in the bank now and another $5,000 two years from now. If she plans to…
A: Introduction: An annuity of payments is made at fixed distances. Examples of annuities are recurring…
Q: What interest rate compounded monthly is equivalent to 10% effective rate?
A: Effective rate = 10%
Q: What rate of interest (in %) compounded quarterly will yield an effective interest rate of 4.4%?…
A: Let x% be the rate of interest compounded quarterly Effective interest rate = 4.4% We have to find…
Q: What rate of interest (in %) compounded annually is required to triple an investment in 5 years?…
A: The interest charged on a loan or deposit is known as compound interest. It is the idea that we…
Q: How much do eight ₱ 69,058 quarterly payments amount at present, if the interest rate is 3…
A: Eight equal payment of 69058 quarterly for 8quarters. This is case of annuity where constant amount…
Q: 1. You have choice when subscribing to our magazine for four years: you can a)pay $100 now for a…
A: As per answering guidelines, can answer only one question. Answering the first one.
Q: What is the accumulated value of a $25 payment to be made at the beginning of each of the next three…
A: PMT = 25 n = 3 r = 9%
Q: Find the present worth of a perpetuity of 1,000 annual payments with interest of 6%
A: According to the question, perpetuity is of 1000 at the interest rate 1% Present value is the…
Q: At 8% annual interest compounded quarterly, how long will it take to become a millionaire if you…
A: Interest is the amount received in excess of the investment to an investor. The two methods of…
Q: Compare the interest earned by $9,000 for six years at 7% simple interest with interest earned by…
A: Simple interest and compound interest are earned on initial amount deposited but with sufficiently…
Q: What is the accumulated amount of a 7-year annuity paying ₱ 1,520 at the end of each year, with…
A: Given: Annuity=1520 Interest rate=2% Number of years=7 To find: Accumulated amount
How much money will you have in seven years
if you deposit $7,000 in the bank at 8.5% interest
compounded daily?
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- If you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal annual payments. How much of the total amount repaid is interest? How much of the third annual payment is interest, and how much principal is there? If you decided to pay off your loan after the third payment, how much will you pay?Today you deposited $10,000 in a savings account paying 7% annual interest. How much should you have at the end of five years?To have a total of $10,000 after 8 years, what principal do you have to deposit in a 4.5 percent saving account compounded monthly?
- 22. You deposited $15,000 in a savings account five years ago. The account has earned 5.25% interest compounded continuously since then. How much money is in the account today?4. How long will it take money to quadruple if it earns 7% compounded semi-annually?Write the formula developed for calculating compound interest?
- If you put your $100 into a saving account which earns 5% interest, how long does it take for your money to double?please help me answer this correctly with complete solution thank you! How much should you deposit in an account5% interest semi-annually if you want to have $25,000after 10 years?Jane deposits $5,000 in a bank account that earns 6% interest compounded semi-annually. How much money will she have after 10 years?
- Interest can be computed more frequently than one time a year Select one: O True O FalseYou currently have $18,000 in a bank account earning 4.9%interest. You think you will be able to deposit an additional$7,000 at the end of each of the next five years. How muchwill you have in five years?You want $12,000 in your IRA in 6 years. Assuming you get 8% compounded quarterly, how much will you need to put in each quarter?