Rachael invests $8000 for 7 years and 8 months. The account earns 12% semiannually. A) What is n for the compound interest part? B) What is the future value after the compound interest part? C) Simple interest is used for how many months?
Q: Alex invested $10,500 in an account that pays 6 percent simple interest. How much money will he have…
A: Simple interest is the method of calculating interest on the amount of investment. A fixed amount is…
Q: An investor deposits $100 into his credit union account that pays interest at the rate of 3.25% per…
A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…
Q: Margo borrows $900, agreeing to pay it back with 4% annual interest after 14 months. How much…
A: The amount borrowed is recorded as principal amount and extra amount paid to pay off the loan at…
Q: Elwin Tulpo invests Php1,000 in a Bank at 10% a year for five years, but when the interest is…
A: The future value function or concept can be used to determine the future value of a present sum or…
Q: Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. What is n for the…
A: Basic Details: Investment = $8400 Time = 8 Years and 10 Months Interest = 5% semi Annually
Q: David invests $300 into an account with a 2.3% interest rate that is compounded semiannually. How…
A: Time value of money (TVM) refers to the method or concept which is used to determine the amount of…
Q: Soledad decides to have P2,100 at the end of each quarter, which is the amount paid into her…
A: Future value of annuity due = P×1+in-1×1+ii Where, P = Quarterly deposit = P2,100 i = Effective…
Q: Lillian took out a 20-year loan for $170,000 at 8.8% interest, compounded monthly. If her monthly…
A: A loan is a financial arrangement in which one person borrows funds from another person at a…
Q: Nine years from now, Sam wants to have an amount available to deposit into an account…
A: ANSWER GIVEN ON THE NEXT SHEET
Q: Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. a) What is n for…
A: Basic Details: 1. Investment = $8400 2. Time = 8 years and 10 Months 3. Interest rate = 5 %…
Q: Helen contributed $500 at the end of every month for the past 5 years into an RRSP account, earning…
A: Annuity means series of no. of finite payments which are same in size and made in equal intervals.…
Q: Kim Baker invested $250 at the end of every 3-month period, for 5 years, at 8% interest compounded…
A: If money has been deposited in an account at the beginning of every period for a specified duration…
Q: Margo borrows $900, agreeing to pay it back with 5% annual interest after 10 months. How much…
A: Interest is the amount that an investor receives on the principle amount over certain period of…
Q: Lauren deposited $1,200 at the end of every month into an RRSP for 7 years. The interest rate earned…
A: Deposit = 1200 per month END OF PERIOD DEPOSITS Time Period = 7 Years × 12 = 84 Months Semi…
Q: Joella invested RM5,000 in an interest-bearing promissory note earning an 8% annual rate of interest…
A: Following is the answer to the question
Q: value of the investment after 5 years b) How much interest was earned
A: An annuity is the fixed amount that is deposited at a fixed interval of time over a predetermined…
Q: how much interest will mico pay
A: PV = A[ (1-(1/(1+r)^n)/ r] Where PV = present value, A = Annuity amount. r = interest rate. n =…
Q: Fred owes $12000 due in two years and $8,000 due in twelve years. Fred is allowed to pay off both…
A: We have to consider present value and future value of both.
Q: Yolanda deposited $1,600 at the end of each six months for 2 years in a savings account. If the…
A: Future value (FV) refers to the sum value of current assets of the company which is evaluated at a…
Q: At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8%…
A: Using FV function of excel
Q: Chris invests $19,000 at 4% simple interest for 7 year. How much is in the account at the end of the…
A: Investment is the practice of exchanging current revenue for an asset that is expected to provide…
Q: Ma. Nochna Pula borrowed $10,000 at 6% annual compound interest. She agreed to repay the loan with…
A: Annual payment can be calculated using the present value of annuity formula. Present value of…
Q: Jason takes out a loan at 10% compounded annually for 7 years. At the end of this period, he pays…
A: Interest charged on the principal amount and the interest accrued is known as Compound Interest. It…
Q: Jianne invested Php 50,000 in a friend's business with a definite annual interest rate of 4%. How…
A: Future value is the value of current asset or investment at a future date. Future value is…
Q: Frank invests $ 4500 dollars into an account earning interest compounded quarterly. After 10 years…
A: given, pv = $4500 fv = $5600 n =10 years m =4 (quarterly compounding)
Q: Cristina invests $140.00 a quarter for 9 years into an account earning 9% compounded quarterly.…
A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…
Q: Ben Tulpo invests Php1,000 at 10% a year for five years. He withdraws the interest at the end of…
A: Given information: Investment : Php 1000 Rate of interest : 10% Annual withdrawal : Php 150 Time…
Q: Brian borrows $ 7500 from his friend at an annual 6% interest rate, which he will pay five years…
A: Future value is the value of the present cash flows after certain period. Due to interest that can…
Q: Alexandra had a balance of $2,000 in her RRSP. In addition to this, she invested $300 at the end of…
A: Given,
Q: John borrows $15000 for 5 years at an annual effective interest rate of %9. At the end of each year…
A: Computation:
Q: Tameshia deposits $5500 in her retirement account every year. If her account pays an average of 6%…
A: We get future value of depositsUse FV function in excel Type =FV and press tab key. Type 6%, (this…
Q: nd invests P20,000 for 40 years in an account earning 9% interest per year. How much will she…
A: Future value = Present value (1 + rate)^periods Future value = 20,000 (1 + 0.09)^40 Future value =…
Q: Meagan invests $1,200 each year in an IRA for 12 years in an account that earned 5% compounded…
A: The amount deposited each year = $1200 Interest Rate = 5% Compounded annually Years = 12 1st We need…
Q: ica deposits her annual business profit into a savings account that pays 7% interest compounded…
A: Future Value refers to the value of the current asset or investment or cash flows at a specified…
Q: Smith invests usd 10.000 in an account that pays interest. After the first year he receives 4.200…
A: Future value is the accumulated sum of money that is invested with the motive to earn a certain…
Q: Sam invests $ 3500 into an account earning 9% interest compounded quarterly. How long will it take…
A: We need to use NPER formula in excel to solve this problem.
Q: In December 2018, Eric puts $1600 into a bank account. He then deposits an additional $1000 each…
A: A study that proves that the 1value of money today is higher than the future value of money is term…
Q: If Hollie deposits $5000 in an account that earns 3.5% interest compounded annually, how much will…
A: Given data; Present value = $5000 interest rate = 3.5% compounded annually number of years = 19
Q: Jane invests $700 at the end of each year for 5 years. If interest is paid at 7%/a compounded…
A: Data given: Investment amount = $ 700 (at the end of each year) n= 5 years Interest = 7% p.a.…
Q: Annette has just inherited $180,000. She invests this money at a rate of return of 6.47% per year…
A: Given: Present value $180,000 Rate 6.47% Another annuity $2,851 Years 20 Compounding…
Q: arie deposits 1,000 into an account that pays interest at an annual nominal rate of interest of ?,…
A: Money is deposited into account that earn the interest on the account and that interest is being…
Q: Jacqueline invests $12000 for 8 years and 8 months. The account earns 11% semiannually. What is n…
A: Investment = $12000 Time of Investment = 8 Years and 8 Months Interest Rate = 11% per year…
Q: Jenny Sherrer has $29,000 to invest and believes that she will earn 8% compounded semiannually. Find…
A: FV = PV (1 + r)t where, FV = Future ValuePV = Present Valuer = Rate of Interestt = Years…
Q: Margo borrows $1400, agreeing to pay it back with 7% annual interest after 217 days. How much…
A: Interest is a value which a person has to pay on borrowed amount for the period. It is the cost for…
Q: 1) Alisha invests 5,000 into an account. The effective monthly interest rate is .25% for the first…
A: Amount available in account after given time period and interest rates is calculated by future value…
Q: Ashley borrows Php.75,000 from Stella with interest at 6% compounded quarterly. She agrees to pay…
A: Loan amount (PV) = Php. 75000 First payment period = 3 Years First payment quarterly period (t) =…
Rachael invests $8000 for 7 years and 8 months. The account earns 12% semiannually.
A) What is n for the
B) What is the
C) Simple interest is used for how many months?
D) Assuming simple interest for the partial period, how much money does Rachael have in the account at the end of 7 years and 8 months?
Future value of present sum depends on whether it is simple interest or compounded interest.Depending upon simple interest or compounding period is calculated.
Step by step
Solved in 5 steps
- Jacqueline invests $12000 for 8 years and 8 months. The account earns 11% semiannually. What is n for the compound interest part? A)What is the future value after the compound interest part? B) Simple interest is used for how many months? C) Assuming simple interest for the partial period, how much money does Jacqueline have in the account at the end of 8 years and 8 months?Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. a) What is n for the compound interest part? b) What is the future value after the compound interest part? c) Simple interest is used for how many months? d) Assuming simple interest for the partial period, how much money does Hanna have in the account at the end of 8 years and 10 months?Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. What is n for the compound interest part? What is the future value after the compound interest part? Simple interest is used for how many months? Assuming simple interest for the partial period, how much money does Hanna have in the account at the end of 8 years and 10 months?
- 1) Alisha invests 5,000 into an account. The effective monthly interest rate is .25% for the first six months, .5% for the next year, and .75% for the next six months. Find the amount Alisha has in the account after two years, and find the average compound monthly interest rate (i.e. the equivalent effective monthly interest rate) for the two year period. Finally, find the average yearly interest rate (i.e. the equivalent effective annual interest rate) for the two year period.Camille Noah is investing $5,000 in an account that pays an annually compounded rate of 6.75 percent for three years. What is the interest on interest if interest is compounded?Abigail received a 15 year loan of $280,000 to purchase a house. The interest rate on the loan was 5.80% compounded semi-annually. a. What is the size of the monthly loan payment? b. What is the balance of the loan at the end of year 2? c. By how much will the amortization period shorten if Abigail makes an extra payment of $30,000 at the end of year 2?
- Please help me answer the following time value of money question. If Hollie deposits $5000 in an account that earns 3.5% interest compounded annually, how much will she have in 19 years? What if it is compounded quarterly?At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8% compounded annually. How much is in the account today? How much would be in the account if the deposits were made at the beginning of each year (PMT Type) than at the end of each year? (Use Future Value of an Annuity) Suppose your opportunity cost (interest rate/year) is 11% compounded annually. How much must you deposit in an account today if you want to pay yourself $230 at the end of each of the next 15 years? How much must you deposit if you want to pay yourself $230 at the beginning of each of the next 15 years? Bruce invested $1,250 (present value - enter as a negative number) 10 years ago. Today, the investment is worth $3,550 (future value). If interest is compounded annually, what annual rate of return did Bruce earn on his investment? (Use Solving for r - Rate of Return- on a Lump Sum) Mario wants to take a trip that costs $4,750 (future value), but currently he only has $2,260…Maria deposits $1,000 in her account at a rate of 3% per year as interest for 2 years. what is the interest percent?
- Noah invests $3,600 for two years. The account pays 0.43% monthly compound interest. To the nearest cent, what's the total that will be in Noah's account after two years? $1Imelda opens a savings account with $12,000, which pays an annual interest rate of 7.8%. If she reinvests the generated interest every month and also deposits $2,300 each month, how much will be in the account after 2 years? The interest is reinvested on the same day as the $2,300 deposit. Otions: 69177.89 71052.15 73548.61 70524.79Appa deposits $2500 in an account earning 4.9% interest compounded monthly. How much will Appa have in the account in 1 year? $ Bash deposits $2500 in an account earning 4.9% interest compounded daily. How much will Bash have in the account in 1 year? How much more does Bash make than Appa? (to the nearest cent)
