When you were​ born, your grandfather established a trust fund for you in the Cayman Islands. The account has been earning interest at the rate of 8​% per year. If this account will be worth ​$120,000 on your 27th ​birthday, how much did your grandfather deposit on the day you were​ born?     Choose the correct answer below.     A. ​$9,600   B. ​$10,299   C. ​$15,188   D. ​$15,024   E. ​$

Q: A bank pays one percent interest on savings account four times a year. What is the actual annual…

A: Interest rate is charged by the lender for using its money.

Q: Suppose that you saved $4,700 at the beginning of the year and that at the end of the year your…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: How much do you need to save each year for 30 years in order to have $775,000, assuming you are…

A:

Q: Mary takes out a loan for $1000 at a simple interest rate of 5% for a period of 3 years.  Calculate…

A: Present value is the value of investment in today's dollar. Future value is the value of investment…

Q: If a lender makes a simple loan of ​$800 for 4 years and charges 3%,then the amount that the lender…

A: The objective of the first part of the question is to calculate the total amount that the lender…

Q: For the following questions, choose the letter of the best answer (Show any work and explanations):…

A: Using straight-line depreciation,, 99, 254); position: relative; display:…

Q: Tamara Massey received $1,500,000 from an insurance company after her husband's death. She wants to…

A: Interest rate per month can be calculated as follows: Thus, the interest rate is 0.67%

Q: Suppose that you make a series of annual deposits into a bank account that pays 8% interest. The…

A: here we calculate how much would  have immediately after the fifth deposit  by following method…

Q: If a lender makes a simple loan of $400 for 5 years and charges 7​%, then the amount that the lender…

A: The objective of the first part of the question is to calculate the total amount that the lender…

Q: Sam promises to pay Sandy $2,000 in four years and another $3,000 four years later for a loan of…

A: Interest rate: The real interest rate is the rate of interest that is being calculated in an economy…

Q: your are to invest 37,000 Pesos in a time deposit account for 1 year. Which of these terms will be a…

A: Given  Total investment =37000 Time =1 year

Q: Four years after the issue of a $10,000, 9.9% coupon, 20-year bond, the rate of return required in…

A: Capital gain or loss refers to a method which shows the relationship between capital gain and…

Q: Suppose Crystal Wilson wants to accumulate $1,000,000 by the time she retires in 40 years. If she…

A: Given, FV = $1,000,000  Time = 40 years  Rate of interest = 10%

Q: Monique borrowed $1,118 for 12 weeks at a simple interest rate of 834%. How much money does she need…

A: It is given that Monique borrowed - $1,118; the simple interest rate is 8 3/4% or 8.75%. Also, it is…

Q: Use the compound interest formulas A=P [1+r/n] and A=Pe^rt to solve the problem given. Round answers…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…

Q: What rate of interest compounded annually would result in receipt of $22,110 in seven years from…

A: Compound interest will be computed by multiplying the present value amount by one plus the annual…

Q: 1) for a period of two years. During the first year, the quarterly payment is for $300, while in the…

A: Given information: First-year quarterly payment = $300 Second-year quarterly payment = $400 Interest…

Q: You can invest in an account that pays simple interest or an account that pays compound interest. In…

A: We need to solve the simple interest amount as well as compounding interest amount with given…

Q: carlos invests $6000 in a 24 month CD that has a 4.75 interest rate. use the formula to find how…

A: Certificate of Deposit (CD) The investors and the authorised banking and financial institution sign…

Q: Michelle Hunter received $250,000 from an insurance company after her hus- band's death. Michelle…

A: An interest rate is the amount of interest due per period, as a proportion of the amount lent,…

Q: Emily recently graduated with a B. About the same time, Emily inherit rather than put the money into…

A: Explicit costs are actually incurred and payable during the course of running a business. For…

Q: You borrow $800 from a family member and agree to pay it back in nir months. Because you are part of…

A: Simple interest is denoted as the procedure for solving the interest amount for a given principal…

Q: Part of the income that a machine generates is put into a sinking fund to replace the machine when…

A: Annually Deposit = 2800 r = 4% Amount = 49000

Q: 2. You owe your best friend P2,000. Because you are short on cash, you offer to repay the loan over…

A: The amount that a lender adds to the principle to compensate a borrower for using assets is known as…

Q: If you deposited $5,000 in your saving account three years ago and you will collect them now as…

A: Deposited amount 3 years ago = 5000 Value of the deposit now = 5995.08  Number of years = 3

Q: Suppose you were promised $400 three years from now and $600 at the end of five years. How much is…

A: Here, we calculate the worth at 12% interest as follow;

Q: You deposit $200 each month into an account earning 5% interest compounded monthly. a) How much will…

A: The future value of a deposit refers to how much the deposited money will grow over time,…

Q: . If you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal…

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

Q: You are planning to have some retirement income and want to retire in 15 years. Until then you will…

A: Given:Value of first deposit=PW=$5000rate of deposit increase=g=4%rate of interest (compounded…

Q: If you put your $100 into a saving account which earns 5% interest, how long does it take for your…

A: Given information: Amount kept in saving account = $100 Interest rate = 5%

Q: You have two investments to choose from. Investment A pays an interest rate of 5% for 2 years and…

A: Future worth is a worth of a venture or resource on a particular date from now on. To put it another…

Q: Steve promises to pay Amanda $2,000 in four years and another $3,000 four years later  for a  loan…

A: A loan could be considered as a swap of buying power over time between lenders and borrowers. The…

Q: e interest rate on an account is 11.5% compounded yearly, approximately how many years will it take…

A: The formula is used to calculate the number of years : Here "A" is the amount in the account after…

Q: ou have really gone above and beyond in spending on your fraternity initiation party and ran up $11,…

A: The concept of ROR can be explained as the part of a loan or deposit that is charged as interest to…

Q: The premier rate, the rate on corporate paper, the simple interest rate on a bank loan requiring…

A: Introductions, Loan:- It alludes to the cash that people borrow from friends, family, or banks.The…

Q: If the interest rate is 7.0%, what is the present value of a perpetuity paying $210 per year? (A…

A: Present Value of perpetuity-Perpetuity is used in accounting and finance, represents  a business or…

Q: ow much did you deposit at the end of each month in an IRA that pays 7% compounded monthly to earn…

A: In this question, we have to calculate the monthly deposit (A) for 30 years.  Rate of interest =7%…

Q: Fred takes out a loan for $1300 at an interest rate of 5% for a period of 5 years.  Calculate the…

A: Interest, in the context of finance and economics, refers to the cost of borrowing money or the…

Q: Many persons prepare for retirement by making monthly contributions to a savings program. Suppose…

A: Future worth (FV) is the worth of an ongoing resource sometime not too far off in view of an…

Q: If you place $50 in a savings account with an interest rate of 7% compounded week the investment be…

A:

Q: How much should they save annually for the next three years if they want to build up Joseph's…

A: The profit or loss of an investment over time is calculated using the rate of return (RoR). The RoR…

Q: You need $15,000 for a new car. If you can deposit $10,000 today into an account that pays annual…

A: Amount deposited today = $10,000Future Value of amount required = $ 15,000Annual interest rate =…

Q: You take out a loan of $12,000 to pay for a piece of equipment. You plan to repay the loan in 16…

A: Suppose you want to pay the first installment at the end of the year. So 16 equal payments of $1100…