On April 28, 2020 a sum of $39,700.00 was deposited into an account. What would be the future value of this sum of money on July 9, 2024, if the interest rate is 2.67% compounded monthly. (1year = 365days) Round the value for FV to two decimal places. P/Y = 12 2.67 % C/Y = 12 DBD = 1533 days I/Y =

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A: ·       Time value of money states that the value of money decreases over time. ·       The…

Q: Pharoah Curtin borrowed $31,500 on July 1, 2027. This amount plus accrued interest at 8% compounded…

A: Step 1: The loan amount to be repaid can be calculated as follows:Sl. No.AB1Loan…

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A: Annuity is the fixed payment that an investor receives from an investment or fixed deposits made…

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A: Present value (PV) = P6000 Interest rate (r) = 11% Period (d) = 267 days Days in a year = 366

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A: A note, often known as a promissory note, is a written agreement to pay an agreed-upon sum of money…

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A: Annual payment = $4900 Interest rate = 7% Number of annual payments = 5

Q: A debt of $6223,43 is due August 1, 2023. What is the value of the obligation on February 1, 2016,…

A: Now, Calculating the present value, Formula, Present value = Future value / (1+Interest rate) number…

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A: Present value is the equivalent value of money today of the future money based on the time value of…

Q: A debt of $7609.38 is due July 1, 2025. What is the value of the obligation on January 1, 2015, if…

A: The value of the obligation can be calculated as the present value of debt

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A: Force of interest is interest compounding continuously and is the highest form of the compounding.

Q: Beginning 2 years from today, you deposit $1,500 per year for 18 years (18 deposits); for the…

A: Present value of 18 deposits at the end of Year 1 would present value annuity of $1500 for 18 years…

Q: An investor contributes $847.00 per quarter in an account that pays 4.00% APR with quarterly…

A: Quarterly contribution = $847.00APR = 4.00%Number of years = 17 years

Q: A payment of $3769.45 due 9 months ago and payment of $1898.63 due in 8 months are to be repaid by a…

A: Single equivalent payment refers to the amount paid with the adjustment of interest of the various…

Q: Compute the amount that can be borrowed under each of the following circumstances: 1. A promise to…

A: Present value: It can be defined as today’s value of the sum of money that will be received by the…

Q: 1. 1 3 6. 8 9. 10 EOY 20 21 22 23 24 25 26 28 29 30 CF $100 $100 $100 $100 $100 27

A: The $100 cash flows is an annuity and here we can find the present value (PV) first and then convert…

Q: Suppose that $1,364 was on deposit in a bank at the beginning of 2022 and that this amount increased…

A: Time value of money is a concept where interest is payable on money for the time it's being used.…

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A: Ordinary interest rate is the method of calculating the interest charged on the loan, based on a 360…

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A: (Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: On June 3, 2014, Crystal Nelson deposits $8,000 in an account earning 2.5% compounded daily. What…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…

Q: Assume that a deposit made on January 1, 2020, earns 6% interest. The deposit plus interest…

A: The questions above differ from each other in terms of the number of compounding periods in a year.…

Q: On January 7, 2023, $4000 was deposited into an account which earns 5% annually. Assuming simple…

A: Simple interest refers to the interest that is earned on the invested amount periodically, it is not…

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A: Annual deposit (P) = $ 2500 Annual interest rate (R) = 0% Number of annual deposit (N) = 12

Q: Mr. Hyson borrowed $15,550 from the bank for 3 yrs. If the quoted rate (APR) is 6.55% and the…

A: The Effective Annual Rate (EAR) for daily is calculated by compounding daily rate wit the number of…

Q: Deposits of $99.00 are made at the end of every quarter for 9.25 years. What will the deposits…

A: Future Value = P [(1+i)n-1][1-(1+i)-1/3] where P= Quarterly Deposits i = Interest Rates n= number of…

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A: The concept of the time value of money states that the same amount of money is worth more today than…

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A: Present value is also known as a present discounted value, in which the future value of cash inflows…

Q: On April​ 1, 2025, Barnes Services received a 6−month note for $11,000 at 10​%. Calculate the amount…

A: Solution: Interest due at maturity = P * R*T

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A: Data given: 1. i=1.2%/ year compounded monthly for 7 years =(1+1.2%/12)^(7*12) 2. i=6.8% / year…

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A: Future value: It refers to the sum of money that will be received by the investor in the future by…

Q: On November 17, 2020 a sum of $42,200 was deposited into an account. What would be the future value…

A: Future Value(FV) is value f current amount at future point of time. It is done by compounding that…

Q: Crane Curtin borrowed $33,300 on July 1, 2022. This amount plus accrued 1. 2027.

A: Compound Interest Compound interest is the interest on a loan or deposit calculated based on both…

Q: Compute the amount of interest on $8350 at 6.5% p.a. from October 8, 2019, to August 4, 2020.

A: As per Bartleby honor code, when multiple questions are asked, the expert is required only to solve…