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if Rita has to pay 50000 rupees after 10 years and interest rate is 8% in the bank, how much to pay so that equal to 50000 in 10 years?
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- You invest 10.000 dolar in a bank account to buy a house at annual interest rate 14 per year, compounded monthly, for 10 years. What is the price of house in this respect?You deposit k1000 in your bank account if the bank pays 4% simple interest,How much will you accumulate in your account after 10 years? What if the bank pays compound interest?You buy a house for Rs50 lakh and immediately make cash payment of Rs 10 lakh. You finance the balance amount at 12 percent for 20 years with equal annual installments. How much are the annual installments? How much of the each payment goes towards reducing the principal?
- If I can invest R120 today and I want to have R500 in my account 4 years from today at what interest rate should I invest my money if I can make one additional payment of R100 into the account at the end of the second year?2. Alice wants to have $90,000 ten years from now. If her bank is paying 4.12% and compounds weekly, how much money must she deposit today?a) Suppose you save $4,000 per year at the beginning of each year for 10 years and earn 8.5% interest per year. How much will you have at the end of 10 years? b) You have Rs.25, 000 which you deposited in a bank account, bank promised to pay youback Rs.75, 000 after 8 years. What rate offered by bank? c) You borrowed Rs.500, 000 at 18% for five years. Part a) How much you will pay each year to settle this loan? Part b) If you decided to settle this loan after two years, what additional amount you will payat the end of two years to fully payback this loan while bank is not imposing any fineon you?
- You want to take out a mortgage on a house worth $50,000 and pay it back in 10 years. Since your credit is very poor, the bank charges you simple interest at the rate of 2% per month. a. How much will you owe after 1 year? b. How much is the interest?A man buy a house after 10 years. He expects to buy the house then with 2 million. Calculate the amount he should save annually in a bank where the bank give compound interest rate of 22%.Suppose you put $1000 in an account today and you need to have $6727.5 in the future. If the bank pays 10%, how many years (n) will it take you to have $6727.5?
- You are promised 5 (yearly) payments of 500 EUR from your fairy godmother. The first payment is coming in 3 years. Your bank is willing to lend you money at the interest rate of 3% 1. What is the present value of the payments? 2. What if the payments started right now?Assume that you plan to buy an apartment 5 years from now and you need to save for a down payment. You plan to save RM2,500 per year with the first deposit made immediately (at the beginning of the year), and you will deposit the funds in a bank account that pays 4% interest. How much will you have after 5 years? How much will you have after 5 years if you make the deposits at the end of each year? Even if the bank provided the same interest rate, which option (at beginning of each year or at end of each year) would give a higher total savings after 5 years? Explain.Nawal wants to deposit OMR 3250 in a bank; she wants to know in how many years this amount will double; if she deposits with: a) Bank Muscat @ 8% interest rate. B) Bank Dhofar @ 8.5% interest rate. c) National Bank @ 8.75% interest rate