Joey invests $7,560 at 4 percent simple interest in a bank. Find the amount in the account after 9 months.

Q: A. Simple interest 1 Danny deposited Php 72,500 into a savings account that pays 2.3% simple annual…

A: Here, we will find some Simple Interest.

Q: 26 (b) Samuel Norris deposited $450 in a new regular savings account that earns 4% interest…

A: The question is related to compounded interest quarterly.  FV = P (1 + r)n

Q: Old Time Savings Bank pays 7.25% interest on its savings account. If you deposit $1,000 in the bank…

A: Annual Interest Rate = 7.25% Deposit = 1000

Q: hn makes an Investment of 10900 into an account that pays Interest compounded annually. In addition,…

A: Future value of the money is the amount of deposit done and amount of interest accumulated over the…

Q: pts Jerrod Dean starts the month with a balance on his credit card of $1,110. On the 10th day of the…

A: The amount owed and the annual interest rate on the credit card are used to compute interest. The…

Q: Eva opened a savings account with an initial deposit of $897. They then deposit $897 into that…

A: We need to use future value of annuity formula to calculate saving balance after 8 years. B(t)…

Q: Knowledge Check Question 3 Joe deposits $3000 into an account that pays simple interest at a rate of…

A: Time value of money is one of useful concept used in finance. It says that amount invested today…

Q: Question 4 Skyler invests $2900 in two different accounts. The first account paid 4%, the second…

A: Present value (PV) is the current value of a future sum of money or stream of cash flows given a…

Q: Anthony invested Php55,000 in a bank that pays 3.75% simple interest. How much will be his money at…

A: calculation of amount after 3 years and 8 months under simple interest are as follows

Q: 5. Miss Tina Jose borrows money from Cabanatuan Bank, which uses a simple discount rate of 14%. She…

A: Given: The discount rate is 14%. The payment made at the end of 4th month, 6th month, and 7th months…

Q: A father loaned his daughter $17,000 at a 3% annual simple interest rate for a down payment on a…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: Question 5 Jasmin has a mortgage of $296,000 through her bank for property purchased. The loan is…

A: Usage of debt comes with a cost that is paid in periodic intervals along with or without the…

Q: QUESTION 4 Amy makes a deposit of R 20 000 in her bank account. The deposit is to earn an interest…

A: The question is based on the concept of Financial Management.

Q: A student wants save for college which begins in five years.  How much will the student save…

A: Solution:- When an equal amount is deposited each period at beginning of the period, it is called…

Q: a bank unt. She earns an amount of Rs. 19,69,000 from the sale. She has to choose among different…

A: in this we have to find effective interest annual rate for each investment and find out  maximum…

Q: Stephen received a 30 year loan of $225,000 to purchase a house. The interest rate on the loan 4.10%…

A: Mortgage loans are paid by the monthly equal and fixed payments and these payments carry the payment…

Q: the end of the month. How much is the cost of the TV set if her monthly payment is P3,000 5. Mrs.…

A: As per the honor code, We’ll answer the first question since the exact one wasn’t specified. Please…

Q: You deposit $2000 each year into an account earning 3% interest compounded annually. How much will…

A: A deposit annually  is rewarded by an interest  annually that make a huge amount at the end of…

Q: How long will it take $47,000 placed in a savings account at 10% interest to grow into $72,000? OA.…

A: Future value of money is the amount of deposit done and amount of compounded interest accumulated…

Q: What amount must be deposited by a 15-year old student in a bank that pays 1% compounded annually so…

A: Time value of money :— According to this concept, value of money in present day is greater than the…

Q: Chapter 6 Self Check Problem #3

A: Debt-to-equity ratio: The debt-to-equity ratio is determined by taking the proportion between a…

Q: SR 3,479 was deposited in a savings account that pays 10 percent interest compounded annually. How…

A: The future value is the future worth of the amount that will be paid or received at future.

Q: 6. From a borrower's perspective, interest if the fee paid on an amount of money, whether loaned or…

A: The questions are related to True or False. This is due to interest and fees, which is what a lender…

Q: 8. Mike deposits $100 into a bank account. His account is credited interest at a nominal rate of…

A: STEP 1 The nominal Rate is also known as the interest rate because compounding periods are not taken…

Q: Question 8 1 pts Every two weeks, Betty makes a $294 payment toward a car loan whose annual rate is…

A: Problem Statement Betty makes a $294 payment every two weeks toward a car loan with an annual…

Q: Carol made a deposit of $1027.00 into a bank account that earns interest at 7.9% compounded…

A: The amount that will be deposited today will be more in dollar terms (not in worth) as the amount of…

Q: 5. Suppose that the parents of a young child decide to make annual deposits into a savings account…

A: Effective annual interest(EAR) is the rate which a fixed-interest account provides in one year after…

Q: Taylor is paid on the last day of the month and 580 is automatically deducted from her pay and…

A: Monthly deposit "PMT" = $80 Annual rate "r"= 3.6% Compounding period "m" = 12 Future Value "FV" =…

Q: 33- A citizen annually deposits the amount of R$1,000.00 at the end of each calendar year, in a bank…

A: Solution:- When an equal amount is deposited each period at end of period, it is called ordinary…

Q: Andrew deposits $1102.32 each quarter into an annuity account for his child's college fund in order…

A: Amount Deposited = Deposit amount per quarter * 4 quarters * Number of years =1,102.32 * 4 quarters…

Q: What is the remaining expenditure and the remaining loan period to calculate the claim for borrowing…

A: There are some of the costs which are allowed by the authorities to get the claim over such…

Q: QUESTION 5 Your client is currently 21 years old. The interest rate on the funds your client has…

A: It is a case of calculating the future value of annual deposits that will be used to make annual…

Q: Floyd borrowed $3600 for 2 years 3 months at 7% simple interest. Part 1 of 2 (a) How much interest…

A: Borrowed amount = $3,600Interest rate = 7%Number of years = 2 years 3 months or 2.25 years

Q: You want to be able to withdraw $50,000 each year for 15 years. Your account earns 7% interest. a)…

A: Here, Annual Withdrawals (PMT) is $50,000 Time Duration is 15 years Interest Rate is 7%

Q: Quantitative M

A: Simple interest is a quick and easy way to calculate the interest rate on a loan which is determined…

Q: Questi Tom wishes to purchase a property that has been valued at $300,000. He has $30,000 available…

A: This is a question on mortgage amortization. We need to find the monthly mortgage payment on a loan.…