Q: You are now about to pay P50,000 to a friend whom you have borrowed some money fifteen months ago.…
A: The worth of an asset at a future date is called future value. It is the present value multiplied by…
Q: How much will be at the said account three years after the last deposit? If you make six consecutive…
A: Given Information: Annual deposit, A = $2000 Interest rate = 10%
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: (Using Appendix A) How much will be in the bank account at the end of 15 years if $ 100 is invested…
A: Semi-annual interest rate (i) = 8% / 2 = 4% Number of semi-annual compounding periods (N) = 2 x 15 =…
Q: At an interest rate of 10% compounded continuously, how will be a deposit of P15,000 be in 15 years.…
A: Here we calculate amount will be deposit with continuous compound , so calculation as follow-
Q: How much do you need to save each year for 30 years in order to have $775,000, assuming you are…
A:
Q: If you buy a computer directly from the manufacturer for $2,923 and agree to repay it in 36 equal…
A: here we calculate the given by following method as follow;
Q: Which formula is correct for the simple interest calculation? Select one: a. F = P(1+i/n) b. F =…
A: Simple interest is a cost one pays on a loan or earnings on the savings account. The formula for…
Q: Jeremy makes six consecutive annual deposits of P2,000 each to a savings account that pays a…
A: Answer in step 2.
Q: If P15,000 is invested in a bank today with a simple interest rate of 9% annually, how much will it…
A: Here, given information is: Money invested today (P): P15,000 Annual interest rate (r): 9% Time…
Q: How much should be deposited in an account that will earn at an annual rate of 9%, compounded…
A: The interest charged on a loan or deposit is known as compound interest. This is the most often…
Q: You are planning to make 18 monthly withdrawals beginning at the end of the sixth month. You plan to…
A: Given, sixth month withdrawal, A = $ 101 Every time amount withdrawal increases by , G =$ 16…
Q: Your company implemented a forced savings plan, each employee is required to deposit P1,000 at the…
A: Given: Amount of deposit per month=P 1000 Number of years=5 Interest rate compounded monthly=6% To…
Q: Compare the interest earned on $8,000 for 15 years at 8% simple interest with the amount of interest…
A: A fixed percent of interest rate on the principal amount over a specific time period is referred to…
Q: Approximately how long will it take a deposit to triple in value if money is worth 12 % compounded…
A: here we can calculate how long will it take a deposit to triple in value as follow
Q: Find the present value of a deferred annuity of P6362 every six months for 3 years that is deferred…
A: Given deferred annuity (A) =6362 every six months Time =3 years rate of interest =4% compounded…
Q: How much should you invest in a 3.8% saving account compounded monthly in order to have a total of…
A: Given: Interest rate=3.8% Future value=P 68185 Number of years=7
Q: Find the equivalent rate of interest of 9% compounded quarterly to an interest rate compounded…
A: Given interest rate = 9 % compounded quarterly quarterly rate = 9/4 = 2.25 % effective interest rate…
Q: If $2500 is deposited at the end of each quarter in an account that earns 3% compounded quarterly,…
A: Annuity(A) is the series of regular income(Y) received on an initial investment(I) for a given…
Q: For a uniform series of payments (ordinary annuity), determine the value of the uniform series…
A: Introduction In this question we have to find the present value Using the continuous compounding…
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: . If you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal…
A: Here we calculate the following by using the given information and conclude the answer so the…
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: How long does it take an investment of P300,000 to double if it invested at 10% interest compounded…
A: The future value of a given amount invested is a function of interest rate, periods of investment,…
Q: On July 1 and September 1, you placed $2,000 into an account paying 3% compounded monthly.…
A:
Q: You have borrowed $50,000 at an interest rate of 12%. Equal payments will be made over a three-year…
A: Interest rate is the percentage rate that the lender charges from the borrower against the use of…
Q: What is the ordinary simple interest earned on P 35, 000 for the period from April 3, 2020 to…
A: SI is a method of calculating the amount of interest that must be paid on the principal, and it is…
Q: Find the present value of a perpetuity payments of P 600 every 3 months with 6% compounded…
A: here we calculate the present value of perpetuity payment y using the present worth formula and…
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: What is the present worth of each of the given series of payments?(a) $2.700 at the end of each…
A: The present worth can be calculated using following formula: Here, FV is the future value. r is the…
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: Find the present value of a perpetuity payments of P 600 every months with 6% compounded quarterly.
A: A perpetuity is a progression of equivalent yearly incomes that goes for the boundless timeframe.…
Q: Money borrowed today is to be paid in 5 equal payments at the end of each quarter. If the interest…
A: Given: The quarterly payment is = ₱ 21,293 The interest rate is = 3% compounded quarterly Money to…
Q: Josh is required to pay P57,000 in 15 days or P60,000 in 60 days. Find the annual rate of interest
A: (Q) Josh is required to pay P57,000 in 15 days or P60,000 in 60 days. Find the annual rate of…
Q: What single payment at the end of year 5 is equivalent to an equal annual series of payments of P800…
A: Future Value: The value of a current asset at a future date based on an assumed rate of growth is…
Q: Can any lump-sum amount be converted into a series of equal annual payments? How?
A: The onetime payment or a redemption of funds at a given time point is called the lump-sum. The…
Q: You take out a loan of $12,000 to pay for a piece of equipment. You plan to repay the loan in 16…
A: Suppose you want to pay the first installment at the end of the year. So 16 equal payments of $1100…
Q: “Compounding of interest is one of humanity's finest inventions,” Albert Einstein famously said. To…
A: Given Future worth = 5,000,000 time = 30 years interest rate = 8 % compounded quarterly quarterly…
Q: Find the present value of 10% interest of the series of payment starting at year 1 of $100 and…
A: According to the question, Interest rate = 10%, number of years = 10 Cashflows series Year 1…
Q: Find that how much must be invested at the end of every year at 11% so that $15,000 will be…
A: Given: Future Value (F.V.) = $15,000 Annual interest rate (r) = 11% = 0.11% Time in years = 5 years…
Q: What interest rate compounded monthly is needed for an amount of P20,442 to increase to P34,904 in 2…
A: Given: Principal amount=P 20442 Future value=P 34904 Number of years=2
Q: - Determine the present value of an ordinary annuity of P2,700 each quarter payable for years and 9…
A: Introduction We have given an annuity value. Its time duration has also given. It is compounded…
Q: An investment of P2658 is made at the beginning of each month for 4 years and 11 months. How much…
A: Investment Monthly = 2658 n = 4 Years and 11 months i.e. 12*4 + 11 = 59 months. r = 5%/12 =
Q: What should be the price of perpetuity that pays P5.000 every month with an interest rate of 8%…
A: Given payment each month = 5000 Interest rate = 8 % compounded annually Total payment each year =…
Q: What is the yield to maturity on a simple loan for $5 million that requires a repayment of $9…
A: Yield to maturity is close to the current yield in that it divides annual cash inflows from a bond…
Q: find the equivalent rate of 6% compounded semi-anually in a compounded quarterly
A: To find the equivalent rate of 6% compounded semi-manually in the compounded quarterly, we used the…
Q: how much money must you deposit today to an account earning 12% so that you can withdraw P25,000…
A: Present value means the current value of the assets or a future sum of money.
Q: What interest compounded 10 times a year is equivalent to an interest rate of 5% compounded…
A: Compounding Interest rate = 5% quaterly
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- Today you deposited $10,000 in a savings account paying 7% annual interest. How much should you have at the end of five years?If you put your $100 into a saving account which earns 5% interest, how long does it take for your money to double?How much should you put into 6% saving account in order to have 100,000 in five years?
- Joe just completed his engineering degree and started to work for an engineering firm. Joe wants to retire early after 30 years working. He plans to invest $5,000 at the end of every year for a 30-year career. If Joe needs $3,954,750 in savings at retirement, what interest rate must the investment earn?Maria takes out a 30-year mortgage for $235,136 at an annual interest rate of 4.2%. How much does she still owe when there is 1 year left on the loan? Round your answer to the nearest dollar.How much money do you need to deposit in a bank each month if you are planning to have $5000 in four years by the time you get out of college? The bank offers a 6.75% interest rate that compounds monthly.
- You want to save the down payment required to purchase a vacation home at the end of five years. If the required down payment is $25,000 and you can earn 5% a year on your savings account, how much do you need to set aside at the end of each year for the next four years?Jocelyn wants to buy a 72 inch flat screen TV to enjoy her birthday video highlights. It sells for $2,000 cash . She will make a down payment of $1,000 and then six monthly payments of $200. What is the full installment price?Find FV: You have $2,000 in a savings account that earns 1.5% interest per year. What will be the balance in your account: in one year? in five years? in ten years?
- At 10% compounded annually, how long will it take for money to double itself?Steve promises to pay Amanda $2,000 in four years and another $3,000 four years later for a loan of $2,000 from Sandy today. What is the interest rate that Sandy is getting? Assume interest is compounded monthly.How much should you invest in a 3.8% saving account compounded monthly in order to have a total of P68,185 after 7 years? Write your answer in two decimal places.
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