A sinking fund is established to discharge a debt of $60,000 in 15 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of , com is the amount of each deposit? (Round your answer to the nearest cent.)
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A: The following formula will be used:
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A: Future value is the value of amount invested today at a future specified period and interest rate.
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- A sinking fund is established to discharge a debt of $60,000 in 5 years. If deposits are made at the end of each 6-month period and interest is paid at the rate of 3%, compounded semiannually, what is the amount of each deposit? (Round your answer to the nearest cent.)A deposit of $3,000 is made in a savings account that pays 7.5% interest compounded annually. How much money will be available to the depositor at the end of 16 years? a. $8,877 b. $10,258 c. $9,542 d. $943.In a loan by $5 000 000,00, with a rate of interest of 28 % a five years term, payable to the end of each month: a. Which the amount of the Payments monthly that shall be realized to the Finalize each month? b. Which the amount of amortization and interests for the five first months?
- What is the accumulated value of periodic deposits of $3,000 made into an investment fund at the beginning of every six months, for 5 years, if the interest rate is 4.75% compounded semi-annually? Round to the nearest cent SUBMIT QUESTIONa. Complete an amortization schedule for a $29,000 loan to be repaid in equal installments at the end of each of the next three years. The interest rate is 10% compounded annually. Round all answers to the nearest cent. Beginning Repayment Ending Year Balance Payment Interest of Principal Balance 1 $ fill in the blank 2 $ fill in the blank 3 $ fill in the blank 4 $ fill in the blank 5 $ fill in the blank 6 2 $ fill in the blank 7 $ fill in the blank 8 $ fill in the blank 9 $ fill in the blank 10 $ fill in the blank 11 3 $ fill in the blank 12 $ fill in the blank 13 $ fill in the blank 14 $ fill in the blank 15 $ fill in the blank 16 b. What percentage of the payment represents interest and what percentage represents principal for each of the three years? Round all answers to two decimal places. % Interest % Principal Year 1: fill in the blank 17% fill in the blank 18% Year 2: fill in the blank 19% fill in the blank 20% Year 3: fill in the…What sinking fund payment would you need at the end of each three months at 12% interest compounded quarterly to amount $3500 in 4 years? $232.93 $732.32 $481.05 $173.64
- 3) Payments of $2500 made at the beginning of each semiannual period for 15 years at 4% compounded semiannually Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. Please show all workings step by stepWhat is the amount of 10 equal annual deposits that can provide five annual withdrawals, when a first withdrawal of $3,000 is made at the end of year 11, and subsequent withdrawals will increase by $200 over the previous year’s, if the interest rate is 8% compounded annually? A.$785 B.$4,588 C.$928 D.$9,904Equation of values a. A bank must collect to a man from his debt a sum of ₱10,000.00 at the end of 8 years. The debt is agreed to be paid in 3 payments at 6% per annum. The first payment is to commence after three years, the second payment at the next year, and the third payment is at the fifth year. If the first payment is twice the second payment and thrice the third payment, what must be the sum of the payments? b. The following are the investments made by ABC company in a bank whose money is worth 12% per annum: ₱10,000.000 in June 1,2000. ₱12,000.00 in June 1,2004. ₱15,000.00 in June 1,2008 and ₱18,000.00 in June 1,2015. How much is the investment at the end of June 1,2020?
- A loan of $20,000 is paid off with installments of $1400 made at the end of each six months. The interest rate is 7% compounded semi-annually. Find the size of the final payment. Select one: a. $211.38 b. $204.23 C. $203.50 d. $208.365.Consider a $10,000 loan to be repaid in equal installments at the end of each of the next 5 years. The interest rate is 7%. a. Set up an amortization schedule for the loan. Round your answers to the nearest cent. Enter "0" if required Year Payment Repayment Interest Repayment of Principal Balance 1 $ $ $ $ 2 $ $ $ $ 3 $ $ $ $ 4 $ $ $ $ 5 $ $ $ $ Total $ $ $ b. c. How large must each annual payment be if the loan is for $20,000? Assume that the interest rate remains at 7% and that the loan is still paid off over 5 years. Round your answer to the nearest cent.$ d. How large must each payment be if the loan is for $20,000, the interest rate is 7%, and the loan is paid off in equal installments at the end of each of the next 10 years? This loan is for the same amount as the loan in part b, but the payments are spread out over twice…3) Payments of $2500 made at the beginning of each semiannual period for 15 years at 4% compounded semiannually Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. Please show all the workings.