Lia was supposed to make payments of $1,766 6 years ago and $1000 5 years ago to settle a loan. If Lia would like to settle both of the payments today, what total amount would she have to pay if interest of 4.70% compounded semi-annually is charged?
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A: Compound interest, also known as Interest on Interest, is interest that is added to the interest…
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A: a. Given An investor invests a sum of Rs. 6000 at an interest rate of 10% compounded quarterly.…
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A: Given the deposit amount = $5000 Interest rate = 6% Future amount = $8000
Q: value of $ 20000 at the end of 10 years
A: (a) FV ($) = 20000 + (20000 x 7% x 10) = 20000 + 14000 = 34000
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A: The formula for calculating the effective annual interest rate compounded continuously is given by r…
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A: i = 16% COMPOUNDED MONTHLY r = ?
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A: Solution:-
Q: You have borrowed $850 from your sister and you have promised to pay her $1000 after 3 years. With…
A: Future value of amount = $1000 Present value of amount = $850 Time period = 3 years
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A: We use compound interest formula when compounded continuously. A= Pert A= Future amount P= present…
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A:
Q: Q2. Maria loaned an amount of 100,000Php payable in 15 equal quarterly instalments. The first…
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Q: Lara deposited 1000 in her bank account at the beginning of every quarter for 9.5 years. Interest…
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A: Given the invested amount = $2000 Interest rate = 7% Time period = 3 years
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A: Future value = 1000000 Interest rate compounded annually = 12% Interest rate compounded monthly =10%
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A: Correct : A. $7007
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Q: 7. Five equal deposits of $8000 will be made every 3 years starting next year at % per year…
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A: Given:- Amount = $14000 Interest Rate =10% Time = 7 years
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A: Deposited every 3 months = 500 Intrest 12% compounded semi annually
Q: A nominal interest of 5% compounded continuously is given on the account. What is the accumulated…
A: Solution Given information interest rate = 5% compounded annually Present value of amount =…
Q: A nominal rate of 12 % compounded _____ is equal to an effective rate of 12.65 %.
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- Rafael invested $2,000 in a business that yields an annual interest rate of 10% compounded continuously. How much would he get. approximately at the end of 5 years from his investment?Chris makes a deposit of $500 into his savings account at the beginning of each year for the next 20 years. If the account earns 5% interest rate per year compounded annually, what will be the future value at the end of 20 years?Need to calculate.Jane deposits $5,000 in a bank account that earns 6% interest compounded semi-annually. How much money will she have after 10 years?
- Mr. Bill deposited 100,000 pesos in bank account earning interest at the rate of 10% compounded quarterly, what will it become at the end of 10 years?How much money would you need to deposit today at 8% interest compounded quarterly to have $15,000 in the account after 8 semi annuals?An independently owned movingcompany wants to have enough money to purchase anew tractor-trailer in four years. If the unit will cost$250,000, how much should the company set aside nowif the account earnsa. 10% simple interest?b. 10% compounded semi-annually?
- How long will it take GH¢2,000 to accumulate GH¢800 interest at 10% compounded quarterly?Jake Werkheiser decides to invest $5000 in an IRA at the end of each year for the next 11 years. If he makes these investments, and if the certificates pay 9%, compounded annually, how much will he have at the end of the 11 years?You invest 10,000 pesos for 3 years and get 10% interest compounded at the end of each year. What is the compound interest?
- What is the present equivalent of a uniform series of quarterly payments of $4,500 each for 8 years and a quarterly payments $2,000 of the next 5 years if the interest rate is 8% compounded bimonthly? Note: Round off your interest rate to five decimal places Round your answer to 2 decimal places.What amount a man deposit each year so that he can withdraw P 50 000 at the end of ten years. If the interest rate is 6% compounded continuously?1. Determine the ordinary simple interest on a 5 years loan of $ 195703 at 13.05%. 2. Compute for the effective interest rate. Payment period = monthly Interest period = 3.89% compounded yearly 3. Compute for the effective interest rate. Payment period = monthly Interest period = 20.2% compounded semi-annual 4. Determine the exact simple interest on a 180-day loan of $ 4103.4 at 10%. 5. If you deposit $22115.09 into an account paying 5% annual interest compounded semi-annually, how much money will be in the account after 12 years? 6. Compute for the effective interest rate. Payment period = every 3 months Interest period = 18.78% compounded continuously 7. ₱10,000 is given at 5% per annum for one year and interest is compounded half yearly. Another ₱3,000 is given at 40% per annum compounded quarterly for 1 year. a. Interest earned from ₱10,000 deposited/invested is ₱ Blank 1 b. Interest earned from ₱3,000 deposited/invested is ₱ Blank 2 c. The total interest received is ₱ Blank 3…