If a bank gives an interest rate of 5% annually. What is the sum of money after 2 years if the difference between the compound interest compounded annually and the simple interest is Dhs 100 Dhs 10000 a. b. Dhs 30000 c. Dhs 40000 d. Dhs 20000 e. Dhs 50000

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A: Step 1:To find out the current investment that Ram needs to make to earn ₹20,000 per year for the…

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Q: A bank announces that it will lend 1200 $ to be repaid in 30 monthlyinstallments of 60 $. Calculate…

A: Using the given values:PV = $1200Monthly payment= $60n = 30 months

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A: Loan amount = $ 100,000 Tenure = 5 years = 5 × 12 months = 60 months Interest rate = 12% (compounded…

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A: The formula for compound interest will be: A=P1+R4004t Where A is the amount received after 4 years…

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A: GIVEN     First year payment (AL) = 500 Greadient (G) = 1000 Annual Rate of interest = 8%. (i)…

Q: What will be the balance at the end of 5 years for $30,500 now at 10% annual interest, if compound…

A: Future value is the value of current cashflow at future date compounded at specified rate. formula:…

Q: Year End-of-Year Payment 1 $1400 2 $1320 3 $1240 4 $1190 5 $1000   What future sum, at…

A: The given cash flow schedule is shown below:YearEnd-of-year…

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A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: You are saving money to buy a car. If you save $290 per month starting one month from now at an…

A: Number of period = 5 × 12 = 60 Interest Rate = 0.06/12 = 0.005 or 0.5% Future Value = Annuity × [ (1…

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A: The objective of the question is to find the formula for the amount of money in a bank account after…

Q: 14. Determine the periodic payment for the following deferred annuity. The annuity is an ordinary…

A: Formula: Single payment series future worth: F=P1+in Capital recovery factor: A/P,i,n=i1+in1+in-1

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Q: Rich wants to have $25 000 in 5 years for a down payment on a house. How much should he invest today…

A: Given:Face value (FV)=$25,000Interest Rate (i)=6.25%Number of Years (n)= 5yearsCompounded Quarterly…