Joanna Mae inherited Php 25,000 on the day she became 19 years old. Under the specifications of the will, the money was placed under a trust fund that earned interest at 15% compounded semiannually. What amount was in the fund on Joanna Mae's 21st birthday?

Q: Your local credit union is offering a certificate of deposit at 5% annual interest. What will be the…

A: Your local credit union is offering a certificate of deposit at 5% annual interest. We need to find…

Q: What interest rate was applied if a loan of ₱65,468 will amount to ₱125,000 borrowed for 2.5 years…

A:

Q: Juan deposited 4000$ into an account with 2.4% interest  compounded semiannually. Assuming that no…

A:

Q: Mrs Angngad acquired a loan of P50000 from a credit union that charges interest of 16% compounded…

A: From the given information we find the quarterly payment.

Q: Ben and Jane have been approved for a $320,000 loan, 30-year mortgage with an APR of 4.75%. What…

A:

Q: What is the total cost of a house you purchased with $20,000 as a down payment and monthly payments…

A:

Q: esiree opens an account with one deposit of $6500. She receives a statement twice a year, just after…

A: Given problem is :   Desiree opens an account with one deposit of $6500. She receives a statement…

Q: Assume that you make a quarterly payment of $750 into an annuity paying 9% interest compound…

A:

Q: Mittola just won $383,000 in a state lottery. He invests it in an annuity earning 47% interest in…

A:

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: A loan for $5,000 with a simple annual interest rate of 20% was made on September 13th and was due…

A:

Q: Pedro d. Magulabtang wants to have an amount of ₱750,000 at the end of 5 years and 9 months for now.…

A: Future value of ordinary annuity FV=R1+in-1i where R is regular deposit i is periodic interest rate…

Q: Find the future value of Php 2,000 after one year at 3% interest rate compound a. quarterly b.…

A: We can find the answers as below.

Q: What is the simple interest on ₱12,500 at 8% for 9 months?

A: Formula for simple interest is as follows : I = P×R×T Where , P  is principal amount. R is Interest…

Q: Find the compound amount on a loan of php 85,000 at 6% for 5 years compounded quarterly.

A:

Q: What annuity over a 10-year period at 8% interest is equivalent to a present worth of 100,000.00

A:

Q: What is the present value of a $100 perpetuity deferred for 10 years if the interest rate is 6% ?

A: We have to find the present value Annual cash flow =$100Interest rate = 6Present value…

Q: If you were to lend Rs. 1,500,000 for five years and charged 19%. Calculate your return in each…

A: Note: It is assumed that the charged amount is the simple interest. The simple interest, I, is…

Q: An engineer deposited Php 6,000 every three months at 10% compounded quarterly. Compute the lump sum…

A:

Q: Suppose a six-year bond is purchased for $5600. The face value of the bond when it matures is $7868.…

A: Suppose a six-year bond is purchased for $5600. The face value of the bond when it matures is…

Q: What is the rebate fraction of a 42 month loan paid off after the 16th payment

A: We know that, Rebate fraction= sum of digits for number of payments remaining / sum of digits for…

Q: Mr. Cruz obtained a 16-year mortgagee for 3,592,974. If this monthly payment is 17,520 how much is…

A:

Q: f your monthly salary is $5,167 and 28% is withheld for taxes and social Security, How much will be…

A:

Q: How long will it take borrower to diminiy₱198,480 if a lender charges 15.65% monthly and monthly…

A: loan amortization formula A=Pr(1+r)n(1+r)n-1 where A is periodic payment P is loan amount r is…

Q: Mr.  Allen purchased an annuity that pays 19% compouned annually. If the yearly payment is $3,500,…

A: With the help of compound interest formula we can solve this problem easily- The formula for…