Ramoncito deposited P15,000.00 today and he deposited the same equal amount each month for the next 9 months. Interest is 7% compounded monthly. a. How much is the value of these 10 equal deposits after 9 months from today? b. If Ramoncito failed to pay the last two monthly payments (8th and 9th), how much should he pay the bank a single amount of 14th month?   show formula used and systematic solution

Q: K Find the interest rate needed for the sinking fund to reach the required amount. Assume that the…

A: The objective of the question is to find the interest rate required for a sinking fund to reach a…

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: 2. A savings bank offered you 6% nominal interest compounded every 2 months You deposited $4,000. a)…

A: here we calculate the future value and the effective interest rate of the following , so by using…

Q: 1 You deposit $17,000 in a retirement account on your 25th birthday, and you plan to retire on your…

A: Here we calculate the following by using the given information , and conclude the answer so the…

Q: Grandma wants to give you $420 at the beginning of each month while you are at school for 3 years.…

A: Periodic Payment (PMT) = $420 Time period = 3 years or 36 months n = 36 Interest rate = 4.8%…

Q: You purchase a car today using a loan of $19000o APR 6%. plan is to pay during 5 years with equal…

A:

Q: C. interest factor provided on the form A student purchases a car at $26,200 and pays for it over 36…

A: A student buys a car for $26,200 and finances it over 36 months with equal monthly payments at an…

Q: Calculate the future value for the following 3 problems Present Value Interest Rate Time (Years)…

A: Future Value takes into account the time value of money. It calculates the value of an asset at a…

Q: Suppose that Rajiv borrows $50,000 at 5% per year to purchase equipment for his business. Complete…

A: Compound interest is the interest which is calculated on the initial principal, and it also includes…

Q: deposits increasing at a constant rate of 2.7% are made at the end of each year. The first deposit…

A: Initial deposit (P) = 1349Growth rate (g) = 2.7% (converted to decimal: 0.027)Interest rate (i) =…

Q: Bill made a budget and planned to deposit $150 a month in a savings account, beginning September 1.…

A: Future worth represents the value of future cash flows, investments, or benefits at a specified…

Q: You buy a car for $27000. You get a loan at 7% interest compounded yearly. You will have 60 equal…

A: total interest refers as the total simple interest on a principal amount at a particular rate of…

Q: Suppose that $12,000 is placed in a bankaccount at the end of each quarter over the next 15years.…

A: A. Future value when compounded quarterly=A1+rn-1rInterest rate,…

Q: Sofia borrows Php8000.00 from a bank that has an interest rate of 2% compounded quarterly. a.) How…

A: Formula for the future if the interest rate is compunded quarterly F = P(1 + r4)t*4 P : Present…