Ritcher decided to deposit  $ 875  from May 29, 2013 to August 13, 2013 at 11.5 % per annum. Compute the amount of simple interest he will earn at the end of the term. Round to nearest 100th.

Q: You are to make monthly deposits of $725 into a retirememt account that pays an APR of 10.1 percemt…

A: Future value is the expected value of current regular deposit at a future date, at a given rate of…

Q: Togo's monthly salary is $1080 and his monthly expenses are on average $750. Togo is looking at some…

A: Investments providing a compounding interest rate calculate interest on the principal as well as…

Q: You need $58000 on March 15, 2024. How much do you need to deposit each quarter in an account…

A: Future value refers to the worth or value of cash flows. Cash flows are compounded at the rate of…

Q: (10 marks) Robert contributes $700.00 at the beginning of every month into an RRSP paying interest…

A: The future value of the cash flow is the future worth of the cash flow at a required rate of return.…

Q: jose has determine dhe need to have $800000 for retirment in 30 years. His account earns 6%…

A: Amount need to be deposited in the account each month can be calculated using the formula of future…

Q: in 8 years (a) What amount should he deposit at the end of each quarter at 6% compounded quarterly…

A: We need to use PMT formula to calculate quarterly payment. PMT =FV*i(1+i)n-1 where FV =future value…

Q: A man is planning to retire in 15 years. Money can be deposited at 8% compounded quarterly. What…

A: Calculating the Quarterly Deposit for Retirement IncomeThis scenario involves two parts:Accumulation…

Q: Cory Manciagli is planning to retire in 22 years.Money can be deposited at 8.2% compounded…

A:

Q: Assume an APR of 12%. Bill wants to retire in 10 years from now. Starting a month from the time of…

A: Calculation of deposit to be made a month from now is shown below: Hence, deposit to be made…

Q: Kolby has made deposits of $140.00 into his savings account at the end of every three months for 20…

A: Given that,    Interest Rate  per annum = 9%   Number of years             = 20   Number of Payments…

Q: A man is planning to retire in 20 years Money can be deposited at 6% interest compounded monthly,…

A: For this we need to calculate compounded annually rate, i=(1+(r/m))^(m/q)-1 =(1+(0.06/12))^(12/1)-1…

Q: For the past 29 years, Ben has contributed $1,830 to his RRSP at the end of every 3 months. The plan…

A: Solution:- When an equal amount is invested each period at end of period, it is called ordinary…

Q: Pascal has recently opened an RRSP. He plans to deposit $ 733 at the end of every month for 20…

A: RRSP is the retirement plan and contribution made are tax free and used to accumulate fund for…

Q: Starting in 2012, Ira Roth places $5,000 in a Roth IRA at the beginning ofeach year for the next 40…

A: Computation of amount in the account after 40 years:

Q: Seamus has made deposits of $84 into his savings account at the end of every month for 20 years. if…

A: STEP 1 Effective Rate The return on an investment or the amount of interest owing on a loan, when…

Q: Peter deposits $75 at the end of each quarter for 15 years into an account that pays 3.14%…

A: Given data; payment amount= $75 number of years = 15 annual rate = 3.14% compounding frequency = 4…

Q: ay off a debt that he took out today, Roger will have to make a payment of $3,500 in 15 months and…

A: The loan amount is the present value of payments made for the loan based on time and interest rate…

Q: Anthony plans to deposit $500,000 now and $10,000 every 6 months for 5 years into an account.…

A: Deposit now (D) = $500000 Semiannual deposit (A) = $10000 n = 5 years = 10 semiannual deposits…

Q: Angela deposits $1500$⁢1500 into an account with an APR of 2.2%2.2% for 1111 years. Find the future…

A: The concept of time value of money will be used here. As per the concept of time value of money the…

Q: Mr. Kinders has contributed $189.00 at the end of each month into an RRSP paying 3% per annum…

A: Here, Monthly Contribution is $189 Interest Rate is 3% Compounding Period is Annual i.e 1