Q4: Grandma Jones has $300,000 in a bank account, which pays her interest at 3.33%. What is the largest amount of money that she could take out now and still have $300,000 in 179 days ? _____

Q: On Monday Kyle had $525 in his bank account. Tuesday he spent $75 on groceries, on Wednesday he paid…

A: BANK RECONCILIATION  Bank Reconciliation is the Summary of Bank Balance & Business Account.…

Q: If you made $600 after investing $12,000 in a bank CD for 4 years, what percent simple interest did…

A: Simple interest = Principal*interest rate*time period Interest rate = Simple…

Q: 10. Kristine has $5,000 in an account today that pays 3% interest rate. Two years from now she…

A: Note: As per the Bartleby guidelines, we can answer only the first question. Kindly post the…

Q: 2. James wants to repay the loan his parents gave him in five years. How much does he need to…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: 12. Patrick and Ben are planning to borrow $34,500 for 150 days to buy some property. Bank A charges…

A: We need to use Ordinary Interest and Exact Interest formulas calculate interest Ordinary Interest =…

Q: Granny puts OMR 65,000 into a bank account earning 3%. You can’t withdraw the money until the…

A: Calculation of number of years: Answer: Number of years that the money left in the account is 37.17…

Q: If you made $500 after investing $1500 in a bank CD for 5nyears, what percent simple interest did…

A: Interest rate can be calculated by dividing amount earned with total amount of investment.

Q: You are comparing two banks. One bank is online and offers a savings account interest rate of 1.75%…

A: The annual percentage yield is the real rate of return that an investment earns over a period of…

Q: Q.2 You deposit 1000 each year in an account for 5 years. At the time of the last deposit, the bank…

A: The time value of the concept is used in calculating the rate of return earned by an investor from…

Q: What amount will Miley need to put in the bank today at 4% interest in order to have $20,000 in 5…

A: Present value method is used to evaluate the different level of investment projects. With the help…

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: SITUATION 3: Vanessa wants to be a 'wise' money saver. She has 20,000 Php and is willing to put it…

A: Let the amount in 15% bank = X Amount in 10% bank = 20000 - X

Q: 4. How much should you deposit in an account so that you can withdraw $5300 every year for the next…

A: Given that, Annual Withdraw (A)=$5300 Duration (n)=18 years Rate of interest (i)=6% or 0.06   Amount…

Q: (A) Suppose you save $4,000 per year at the beginning of each year for 10 years and earn 8.5%…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Max the mouse needs $10,000 in 5 years. How much should Max deposit today if the bank has a simple…

A: Simple interest is the type of interest that is calculated on the original amount invested and not…

Q: 4. The Bank of Glendon holds reserves of $ 40 (which is also the amount of its reserves) with…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: Peter has $33,550 in his savings account. If he withdraws $5,000 at the end of each year, he will…

A: Present Value (PV) of Savings Account = $33,550Annual Withdrawal (P) = $5,000Number of years (n) =…

Q: 1.1 Suppose you received R1000 from your grandparents on your 18th birthday, which was 17 years ago.…

A: Savings account earn compound interest. To calculate final account balance we can use the formula…

Q: Q3 : Starting on the day Anna was born, her mother has invested $40 at the beginning of every month…

A: A series of regular fixed periodic payments made at each interval is annuity. The broad…

Q: Zorbat Wellington deposited $3,489 fifteen years ago into a bank account that paid 9.34% compounded…

A: Compounding is a technique to find the equivalent value in future value term, taking time value of…

Q: Your grandfather put some money into an account for you on the day you were born. You are now 18…

A: It represents the expected amount or value of the current asset at a future date. It is estimated by…

Q: 1. In a bank account that pays interest 2% p.a, what should you deposit now to have a balance of…

A: Future value is the amount that existing assets are worth at a specific future date after they have…

Q: Alice wants to be a 'wise' money saver. She has P100,000 and is willing to put it in the bank. she…

A: Simple interest is interest without compounding that is there is no interest on interest and there…

Q: Question 8: 1. A woman deposits $26,000 into a savings account with an interest of 8% to be…

A: Future value amount includes the amount that was being deposited over the period of time and amount…

Q: Your grandmother has been putting $2,000 into a savings account on every birthday since your first…

A: Future value of ordinary annuity is the total value of all accumulated annuity payments at a future…

Q: NOTE: PLEASE STRICTLY CHOOSE FROM THE FORMULA ATTACHED. DONT USE EXCEL! 8. Mrs. Dimayuga deposits…

A: We need Future Value of the investments ( 12000 + 6000 ) = 18000 Formula Future Value (FV) = Present…

Q: Michelle Payne deposited $24,000 in a savings account paying 6.25% simple interest. How long (in…

A: Formula: FV=PV×1+rt

Q: If you make yearly deposits of $1200 in a bank account, how much money will you have in your account…

A: Future value of annuity = P * [ (1+r)^n  - 1 ] /r  Where r = rate of interest i.e. 6% n = no. of…

Q: Shamsuddin has RM 63,000 in his EPF Account II. He plans to purchase a house which cost him…

A: EPF Account II Balance = RM 63,000 House cost = RM 173,000 loan = RM 100,000 He can withdraw from…

Q: Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in…

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

Q: 33. How much will my $7,000 be after 15 years in a bank with an interest rate of 10%? OA. P28,240.74…

A: Initial value (I) = P7,000 Interest rate (r) = 0.10 Period (n) = 15 Years   Value in 15 years = ?

Q: 5. Janet and Mercy want to borrow $50,000 for 120 days to finance their business. Security Bank…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: Ahmed started his business by depositing the amount of 100,000 dinars in cash. ?What will the amount…

A: Capital invested by Ahmed is a part of internal liability because an enterprise must repay the owner…

Q: Mary recently received a credit card with a nominal interest rate of 17 percent. With the card, she…

A: Loan Payments: These are periodic payments made by the borrower to the lender for the purpose of…

Q: Suppose that a capital of £2700 earns £400 of interest in a bank account over 4 years. en that…

A: Simple interest rate is a way to calculate the interest on a loan or investment that doesn't take…

Q: You just turned 20 years old and want to retire when you turn 65. You plan to put $4,900 every year…

A: FV represents the total value or amount of an investment or account at a specific future point in…

Q: Stella deposits $1,250 in a bank account that pays 10.5% interest compounded monthly. In 7 years,…

A: We have; Amount deposited is $1,250 Interest rate is 10.5% compounded monthly Monthly interest rate…

Q: Your bank pays 4.1% interest annually. You have $2,700 invested in the bank. How long will it take…

A: Annual interest rate = 4.1%  Invested Bank = $2,700 = Present value The invested bank amount gets…

Q: How much would your investment be worth if you deposited $5,555.55 into a bank that paid simple…

A: Total Interestn need to be computed for 10 years period by computing the annual interest on amount…

Q: 40. Josh has a savings account at a bank that charges a $12 fee for every month that his balance…

A: Generally, banks have a limit defined for the minimum balance of the deposit to be maintained by the…

Q: Problem 6: You are trying to explain to a friend the power of compound interest. So you use the…

A: Simple interest is when the interest is charged only on the principal amount. The formula of the…