What simple interest rate (in %) is equivalent to 5% compounded quarterly if money is invested for 9 years? Round your answer to 2 decimal places.
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- An investment of $2658 is made at the beginning of each month for 4 years and 11 months. How much will the investment be at the end of the term, if interest is 5% compounded monthly? Round your answer to 2 decimal places.What is the future value of $3,000 saved for 6 years at 4% interest compounded annually? Enter your answer rounded to two decimal places.A bank saving account offers 4% compounded on a quarterly basis. A customer deposit $200, in this type of account, at the start of each quarter starting with the first deposit on the first of January and the fourth deposit on the first of October. What is the total amount in his account at the end of the year?
- 8. What is the nominal rate of interest compounded continuously for 10 years if the compound amount factor is 1.34986?How much would you have to deposit now. so that you can withdraw of $10000 starting at the end of year 5 , and subsequent Withdrawals will decrease a rate of of 10% semiannual year over the previous year's until at the end of year 8 , if the interest rate is 676. compounded semi-annually? Note: Draw the cosh flow diagram and use interest rate with five decimal places. Box your final answer and upload the picture of your solution.At 7% annual interest compounded monthly, how long will it take your #96529 to double? Round your answer to 2 decimal places.
- SHOW SOLUTIONS AND WRITE NEATLY THE FORMULA COMPOUND INTEREST What simple interest rate is equivalent to 71/2% compounded semi annuaaly, if money is invested for 61/2 years? IN 2 decimal places, input the % signWhat interest compounded 10 times a year is equivalent to an interest rate of 5% compounded quarterly?How long does it take (to the nearest whole year) for a money to quadruple in value when the interest rate is 15% compounding per annum? SHOW YOUR COMPLETE SOLUTION: 4 DECIMAL PLACES ONLY
- You borrowed an amount of $15,000 and paid it $20,223 in 3 years. If the interest rate was compounded monthly, what is the nominal interest rate?How much money would you need to deposit today at 8% interest compounded quarterly to have $15,000 in the account after 8 semi annuals?You were entitled to receive $5,000 at the end of six months for the rest of your life. If the interest rate is 10% compounded monthly, what is the present value of perpetuity? can someone explain how come the answer is 97,936.84?
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