Peter has decided to make a deposit of $500 each quarter (starting next quarter) for 5 years. If the interest rate is 16%/year compounded monthly, the closest equivalent future value right after his last deposit is

Q: An investment allows for end-of-year payments that grow by 2% per payment for 15 years, starting at…

A: A=$1100g=2%i=3.4%N=15 years

Q: 18 YEAR ANNUITY WITH 7.86% COMPOUNDED HOW MUCH TO PAY TO RECEIVE $1900 ANNUALY OVER 18 YEAR PERIOD

A: Compounding refers to a process in which the interest rate is charged on the investment as well as…

Q: How much should you deposit in an account 5% interest semi-annually if you want to have $25,000…

A: Given information is: Future Value (FV)= $25,000 Time period (t)= 10 years Interest rate (r)= 5%…

Q: Tyrone wants to spend $14,500 on a new car three years from now. He opens a savings account and…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: A friend of yours bought a new sports car with a ​$5,000 down payment plus a ​$26,000 car loan that…

A: EMI = [P x R x (1+r)n ]÷[(1+r)n-1] P = principal = $26000 R = interest rate per month = 0.25% n =…

Q: For the cash flows given below, determine the value of G that makes the present worth in year 0…

A: Calculate the present worth of each cash flow:PW0 = 200 ​PW2 = 500 × (P/A,5%,5)​PW3​ = (500−G) ×…

Q: value of $ 20000 at the end of 10 years

A: (a) FV ($) = 20000 + (20000 x 7% x 10) = 20000 + 14000 = 34000

Q: Please show work

A: According to the question, an investment of $2,000 has made for 20 years at 8% per year. The amount…

Q: ← Occasionally a savings account may actually pay interest compounded continuously. For each…

A: Formula for the future value is given as: F = P(1+R/m)t*m F: future valueP : principle valueR : Per…

Q: Future Value of an Investment The newly opened Mario's Trattoria is expected to produce a continuous…

A: Disclaimer- “Since you have asked multiple questions, we will solve the first question for you as…

Q: Bruce deposited $100 into the bank account. The account is credited with interest at a nominal…

A: The correct answer is given in the second step.

Q: 2. What is the monthly payment for a loan of 100,000 over 5 years nominal interest rate is 12%…

A: Loan amount = $ 100,000 Tenure = 5 years = 5 × 12 months = 60 months Interest rate = 12% (compounded…

Q: At 10.23% annual interest compounded semiannually, how long in years will it take to become a…

A: Compound interest is the interest calculated on the initial principal as well as on the accumulated…

Q: A man bought car in installment basis. If he pays P10,000 at the beginning of each month at a rate…

A: The cash price is the present value of the cash flow. The formula is: PV=(1+r)*A[1-(11+r)nr]…

Q: Give step by step answer with introduction and final answer

A: To solve this problem, we need to calculate the balance after 3 years, given the initial deposit and…

Q: Mr. Smith invested $2,500 in a savings account that earns 3% interest compounded annually. He made…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: How much must be set aside now to cover payments of $300,000 three years from now and $500,000 five…

A: Note: “Since you have posted multiple questions, we will provide the solution only to the first…

Q: condominium unit can be bought at a down payment of 150000P and a monthly payment of 10000P for 10…

A: A1 = 150000 A2 = 10000 n = 10 i = 0.01

Q: Compare the future worth of $2,500 for 5 years at 12% per year compounded monthly. How much interest…

A: Future worth (F) = $4541 (d option is correct)Interest=$2041

Q: A man borrowed P 100,000 and promised to pay after 5 months at an interest of 8% compounded monthly…

A: I = P(1+ R12)m - P Where I : the compund interestP : The principle amountR : Compound interest rate…

Q: None

A: Let's go through a detailed step-by-step explanation of the workings and calculations for the…