Sanchez placed $11114 into a five-year interest payout GIC at 4.2% compounded monthly. Calculate the interest payout amount every month. Select one: a. none b. 388.99 c. 38.90 O d. 594.60
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- Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600If you borrow $5,300 at $900 interest for one year, what is your annual interest cost for the following payment plan? (Round the final answers to 2 decimal places.) Effective rate a. Annual payment % b. Semiannual payments % c. Quarterly payments % d. Monthly payments %Fill in an amortaization table for a loan of $9,300 to be paid back over 4 years, at an annual interest rate of 1.2% compounded semiannually. At each step, round your answers to the nearest cent and use these values to calculate the next. Payment Number Payment Amount Payment Amount to Interest Payment Amount to Debe Outstanding Pri 9300 2 3. 4 5. 6. 7. 8.
- If you borrow $5,300 at $400 interest for one year, what is your annual interest cost for the following payment plan? (Round the final answers to 2 decimal places.) a. Annual payment b. Semiannual payments c. Quarterly payments d. Monthly payments Effective rate % op % %You are given the following about two annuities-immediate: Annuity A pays 300 at the end of each year for 18 years. d ofc Annuity B pays 399.865 at the end of each year for 9 years. At an annual effective rate of interest i, the PV of both annuities are equal. Calculate i. Ponible Answers 12% 11% C 10% D 13% 14%Answer the subquestions below: a. Mr. Formento pays at the end of every month for a loan that charges 5% interest compounded quarterly. What type of annuity certain is this? b. Determine the amount after 5 years of a P1,500 deposit every end of 3 months in an account paying 12% compounded quarterly. c. how much should be invested at the end of every six months at 12%compounded quarterly in order to accumulate P50,000 after 6 years?
- I constructed an amortization schedule for $1000, 10%, annual rate loan with three equal installments and came up with the payment amount of $402.11. The second part of the question is now asking the below:During year 2, what is the annual interest expense for the borrower and what is the annual interest income for the lender?At the end of each quarter, Patti deposits $1,800 into an account that pays 10% interest compounded quarterly. How much will Patti have in the account in five years? (FV of $1, PV of $1, FVA of $1, and PVA of $1). (Use appropriate factor(s) from the tables provided.) Multiple Choice $45,980 $47,830 $47,780 $54,980 Prev 1 of 10 Next > APR 6. tv 4You deposit $400 in an account earning 8% coumpound interest for 2 years. Find the future value and the interest earned for each of the following compounding frequencies. Use the Bankers' Rule for daily compounding. Frequency Future Value Interest Earned Annually: Semiannually: Quarterly: Monthly: Daily:
- Find the periodic withdrawals PMT for the given annuity account. (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $400,000 at 4%, paid out monthly for 15 years i PMT SIf you borrow $7,300 at $800 interest for one year, what is your effective interest rate for the following payment plans? Note: Input your answers as a percent rounded to 2 decimal places. a. Annual payment b. Semiannual payments c. Quarterly payments d. Monthly payments Effective Rate of Interest % % % %If you borrow $7,500 at $550 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.) a. Annual payment b. Semiannual payments c. Quarterly payments d. Monthly payments Effective Rate of Interest % % %