You have Rs. 9,000 to deposit. ABC Bank offers 12 percent per year compounded monthly, while King Bank offers 12 percent but will only compound annually. How much will your investment be worth in 10 years at each bank?

Q: Your bank pays 2.3% interest per year. You put $1.100 in the bank today and $500 more in the bank in…

A: Year 0 Deposit = $1,100 Year 1 Deposit = $500 Interest rate = 0.023 Amount in the bank in 2 years =…

Q: If you have $60,000 in a bank account that is paying an interest rate of 4 percent that is being…

A: To find out how many years it will take to double an investment with a constant interest rate, you…

Q: the bingo bank is paying 9% interest compounded monthly .a) if you deposit 1000 at the beginning of…

A: The future value of annuity due is the total future value of each cash flow which is made at the…

Q: You plan to collect up to 6 million. ISK but you have 200,000 ISK. into your bank account. You…

A: The concept of time value of money will be used here. The value of money changes with passage of…

Q: You plan to invest $10,000 for 180 days. Your bank offers a rate of 2.60% on 90-day GICS and 2.85%…

A: We have in The Question, Principal = $10,000 Period = 180 days OPTION-1 90 Days GIC Interest Rate =…

Q: You currently have $5,300. First United Bank will pay you an annual interest rate of 8.8, while…

A: As per the given information: Future value - $13,000 Present value - $5,300 Rate of interest - 8.8…

Q: Spartan Credit Bank is offering 6 percent compounded daily on its savings accounts. You deposit…

A: To calculate , how much this deposit have in  account after period end , we have to use this…

Q: You expect to need $1500 in 3 years.  Your bank offers 4% compounded semi-annually.  How much money…

A: Solution:- When an amount is invested somewhere, it earns interest on it. The amount initially…

Q: You are considering investing in a European bank account that pays a nominal annual rate of 8%,…

A: Solution:-When an equal amount is invested each periodat beginning of period, it is known as annuity…

Q: (Comprehensive problem) You would like to have $57,000 in 13 years. To accumulate this amount, you…

A: Here,ParticularsValuesFuture value (FV) $  57,000.00Number of years (NPER)13.00Interest rate…

Q: You have $400 and a bank is offering 3.5% interest on deposits. If you deposit the money in the…

A: The FV of an asset is the value that the asset acquires assuming that it grows at a fixed rate for a…

Q: How much money will be in an account for 10 years from today if 20,000 is deposited today at a rate…

A: Following details are given in the question: Present value (Investment today) = $20000 Time period =…

Q: You have $300 and a bank is offering 5.5% interest on deposits. If you deposit the money in the…

A: FV = PV * (1 + r)^nWhere FV = Future ValuePV = Present Value = $300r = rate of interest = 5.5%n =…

Q: Suppose your bank account will be worth $4,200.00 in one year. The interest rate (discount rate)…

A: Present value is the present worth of any sum of money to be received in the future at a specified…

Q: you expect to have $3, 000 in one year. A bank is offering loans at 11% interest per year. How much…

A: Future value=$3000Interest rate=11%Period=1 year

Q: how many years your money will be doubled?

A: answer :- c) n= 6.12 years given  present value PV= 10000 rate r=12% future value FV = 2*10000 =…

Q: If P30,000.00 is deposited each year for 10 years, how much annuity can a person get annually from…

A: Amount deposited each year for 10 years is P30,000 Cost of monry is 14% Total number of withdrawals…

Q: Your bank will pay you an interest rate of 0.102% per week. You want to have $22, 500 in 10 years.…

A: Future value=$22500Interest rate=0.102%Period=n=10 years=10 x 52=520 weeks

Q: A bank offers an investment account that has an annual interst rate of 9.9%, compounded quarterly.…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: Your plan is to have $40,000 in your account, 13 years from today. You can invest in an account that…

A: Future value required (FV) $40,000 Interest rate = 8.05% Monthly interest rate (r) = 8.05%/12 =…

Q: f 10,000 is deposited in the bank annually with a 12% per year interest rate. how long will the…

A: Annual Deposit = 10,000 Interest Rate = 12% Future Value Required = 1,000,000

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,350 per year with the…

A: Future value is an estimate of future cash values ​​that may be received at a future date,…

Q: You expect to have $12,000 in one year. A bank is offering loans at 5.5% interest per year. How much…

A: We are given  Future value=12000 Rate=5.5% no. of years=1 We will calculate present value in this…

Q: Your bank pays 2.6% interest per year. You put $1,400 in the bank today and $500 more in the bank in…

A: The future value can be calculate using the formula,

Q: You have $5,000 to deposit. Regency Bank offers 15 percent per year compounded monthly (1.25 percent…

A: Data given:: Amount = $5000 Regency Bank offers = 15% compounded monthly (15%/12 = 1.25%) King Bank…

Q: deposit P5,000 at the beginning of every year into an investment which earns 16% interest per year…

A: Solved using Financial Calculator  (i) Amount at the end of 4th Year SET BGN Mode in Calculator.…

Q: An investment company pays 7% compounded semi annually. You want to have 14,000 in the future. How…

A: The idea of the time value of money (TVM) holds that a quantity of income is valued currently more…

Q: ered by a bank an interest rate of 6.5% per annum, compounded annually. How much money will the…

A: The given problem can be solved using PV function in excel. PV function computes present worth for…

Q: Solve the following problem. If P100,000.00 is invested in a bank at 4.5% simple interest annually,…

A: Borrowings are the liability that is used to finance the requirement of the funds. The borrower…

Q: You are going to buy an apartment, and are borrowing 5 000 000 from a bank for 10 years. The…

A: EAR is the effective interest rate that is interest rate after considering impact of compounding on…

Q: You currently have $5,000. First United Bank will pay you an annual interest rate of 8.1, while…

A: The concept of time value of money will be used here. Future value or amount is obtained by…

Q: Suppose $8,000 is invested in an account with an annual interest rate of 4.7% per year, compounded…

A: Future value (FV) refers to the value of an investment or an asset at a specified point in the…

Q: If P30,000 is deposited each year for 9 years. How much annuity can a person get annually from the…

A: An annuity refers to a fixed amount or stream of payments or deposits made. Therefore, it helps in…

Q: What will it be worth in 25 years?

A: We can determine the FV of an amount using the formula below:In the formula above, PV = deposit =…

Q: Suppose you loaned P200,000 from a local bank to be paid back uniformly in five years. How much will…

A: The concept of the time value of money states that the current worth of money is more than its value…