On 1 February 2016, Alexander owed three debts: a $3,000 note dated on 1 February 2014, and due (10 marks) on 1 August 2021 with interest at 4% compounded quarterly; $4,000 due on 1 February 2019, without interest; and $3,000 due without interest on 1 February 2026. He paid $6,500 on 1 February 2020. If money was wor.,th 5% compounded semi-annually, what payment would he made on 1 February 2023, to complete paying off the indebtedness?

Q: A person donated OMR 6420 to a college with the provision that a scholarship is paid at the end of…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

Q: Manhattan Island is said to have been bought from the Indians by Peter Minuit in 1626 for 24…

A: we have to find the compound interest annually with the given formula A(t)=P1+RNNT Where, A = Amount…

Q: A borrower had a loan of $20,000.00 at 6% compounded annually, with 12 annual payments. Suppose the…

A: Given information Loan amount P=$20,000 Interest rate r=6% compounded annually ⇒r=6100=0.06 As loan…

Q: The government has set up a fund for physically handicapped persons who are unable to work. A…

A:

Q: Rose has saved $160,000. If she decides to withdraw $2500 at the beginning of each month knowing the…

A: From the given, Amount (A) = $160,000 Principle amount (P) = $2500 Rate = 5% per annum Then R =0.052…

Q: order to accumulate enough money for a down payment on a​ house, a couple deposits $540 per month…

A:

Q: If the parents in part e invested $10,000 in an account paying 8%, compounded quarterly, how much…

A:

Q: If $15,500 is invested at a rate of 7.5% per year compounded monthly a) after 1 month b) after 6…

A: Given $15,500 is invested at a rate of 7.5% per year compounded monthly To find the amount a) after…

Q: . Key has set up a fund in order to have $20,000 in 18 years for his children’s college education.…

A:

Q: A depositor planned to leave $2 000 in a saving and loan association paying nominal rate of 4.50%,…

A:

Q: A new employee charged $4130 on his credit card to relocate for his first job. After noticing that…

A:

Q: At what rate of interest compounded semi-annually for 8 years will Rs. 3,150 amount to Rs. 4,720?

A: The formula for amount is: Where, P is the principal value. r is the rate of interest in decimals.…

Q: Suppose $100 was deposited at the EOY 2011 into an account that earns 7% interest compounded…

A: Given , P = $100 r = 7% A = $220 Then A= P(1 + rt)

Q: Suppose that start of month payments of $376 are made to an investment that earns interest at the…

A:

Q: given the current interest rate of 6% compounded annually.find the present value of $10000 to paid…

A: Given Amount (A) = 10000 Interest rate (r) = 6 We know that A = P1+r100n , where n is the time For…

Q: Find the interest earned on $30,000 deposited into an account paying 2.5%. Round to the nearest…

A:

Q: A person wishes to have $15,000 cash for a new car 5 years from now. How much should be placed in an…

A:

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $421 per month…

A: Given information Amount deposited per month R=$421 Rate of interest r=3% compounded monthly…