The exact simple interest of P7,000 invested from April 28, 2002 to December 25, 2002 is P700. What is the rate of interest? percent=? round 2 decimal place

Q: a. b. C. 11% 8% 8% Annual Rate 11 Number of Years Invested 8 16 Annually Number of Rents Involved…

A: Both future value of annuity and present value of annuity considers compounding in its calculation.…

Q: What is the future value of 15 deposits of $2,000 each made at the beginning of each period and…

A: Compounded rate = 10%Number of years of deposits(n)=The payments occur at the beginning of each…

Q: Complete the following table. Use Exhibit 1-B. (Round time value factors to 3 decimal places and…

A: Investment refers to an amount that is invested by the investor for the purpose of earning profits.…

Q: Use the continuous compound interest formula to find the indicated value. A = $7,500; r= 6.54%; t= 6…

A: Amount(A) = $7500 Rate(r) = 6.54% Time(t) = 6 years  Principal = P Continous Compounded

Q: Using the tables provided, if an investment is made now for $19,200 that will generate a cash inflow…

A: Given, The investment is $19,200 Cash inflow is $6,400. Rate is 10%

Q: What is the nominal rate of interest at which money will be 5 times itself in 20 years and six…

A: Nominal interest refers to the stated or advertised interest rate on a financial instrument, such as…

Q: Using the tables above, what would be the present value of $19,670 (rounded to the nearest dollar)…

A: Present value calculation involves determining the current worth of a future cash flow by…

Q: What is the present value of $4,010 to be received at the beginning of each of 29 periods,…

A: Present value of annuity due (n=29, i=5%) = 15.89813

Q: What is the future value of $11,000 invested for one year at an interest rate of 6% p.a.? a. $17000…

A: given  interest rate = 6% PV = 11000

Q: $52,460 payable at the end of the seventh, eighth, ninth, and tenth periods at 11%. (Round factor…

A: Present value is the value today. In the application of time value of money, we deal with present…

Q: What was the annual rate of simple interest offered on a savings of $7106 if the amount of interest…

A: What was the annual rate of simple interest:- Given information:- Savings(P)…

Q: Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment.…

A: In finance, the concept of time value states that money today has more purchasing power than the…

Q: Following is a table for the present value of $1 at compound interest: Year 6%   10%   12% 1 0.943…

A: The present value indicates the current worth of the future cash flows at a specific rate. The PV of…

Q: If $15,500 is deposited in an account earning interest compounded continuously at 4.00% for 12…

A: Continously compounded interest rate:Continuously compounded interest rate represents a method of…

Q: Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment.…

A: An interest method in which current interest is computed by multiplying the interest rate by the sum…

Q: Complete the following without using Table 12.1. (Round the "Total amount" and "Total interest" to…

A: The future value represents the value of an investment or money at a future specified date assuming…

Q: What is the future value of $7,960 at the end of 8 periods at 8% compounded interest? (Round factor…

A: FV = PV x (1+r)^nHere,FV = future valuePV = present valuer= rate of interestn = number of period

Q: What is the present value of $4,450 to be received at the beginning of each of 30 periods,…

A: Present value = Annuity * PVAD of $1

Q: If $19,000 is deposited in an account earning interest compounded weekly at 5.87% for 13 years, what…

A: Effective Rate of Interest: It is the annual rate on a loan or investment considering the effects…

Q: p1

A: The problem is asking us to find the rate of interest per annum. We are given the principal amount…

Q: Determine the future value of the following single amounts:                    Invested Amount…

A: Future value: This is the amount of present value accumulated or compounded at a rate of interest…

Q: Calculate the quarterly compounded rate (j4) equivalent to a monthly compounded rate of 8.70% (j12).…

A: Given: Monthly compounded rate =8.70% Effective annual rate = (1+ rm/ n)n -1 where rm = rate for…

Q: Below is a table for the present value of $1 at compound interest. Year 6% 10% 12% 1 0.943 0.909…

A: Present value means the discounted value of a future sum of money at a given interest/discount rate.…

Q: The exact simple interest of P5000 invested from June 21, 1995 to December 25, 1995 is P100. What is…

A: SIMPLE INTEREST   Simple Interest (SI) is the method of calculating the Amount of interest for a…

Q: What is the future value of $8,160 at the end of 7 periods at 8% compounded interest? (Round answers…

A: Following details are given in the question: Present value (Investment today) = $8160 Time period =…

Q: What is the effective interest rate corresponding to a nominal annual rate of. (Round your…

A: Whenever the impacts of compounding over time are considered, the effective annual interest rate is…

Q: Assuming a 14% interest rate, which of the following is closest to the total present value of the fo…

A: PRESENT VALUE Present Value is the Current Value of Future Cash Flow at a Discounting Rate. Present…

Q: Complete the following without using Table12.1. Note: Round the "Total amount" and "Total interest"…

A: The future value (FV) represents the value of a current asset at some point in the future based on…

Q: Using Table 11 - 1, calculate the compound amount and compound interest (in $) for the Investment.…

A: Time value of money is a concept where interest component for the time money used is calculated. It…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.