In how much time will PhP 1,171 accumulate to to PhP 1,356 (interest + principal) at 8.85% simple interest? ROUND-OFF YOUR ANSWER TO 2 DECIMAL PLACES.
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- #5: Interest Payable, beg. 35,000.00; Interest Payable, end 15,000.00; Interest Expense, 75,000.00. The Cash Payment for interest amounted to _________. (Round your answers to the nearest 2 decimal places)Answer the following questions correctly and show your Complete Solution. a. 3 1/5% is equivalent to b. Find the actual time and approximate time from October 5, 2020 to June 30, 2021 c. Which of the following are NOT true?I. Principal is the money given or paid invested in the origin dateII. Origin date is a date on which money is paid by the borrower.III. Interest is an amount or earned for the use of the moneyIV. Simple Interest is an interest that is computed on the principal and then added to it.2.) Find the actual and approximate time from December 19, 2020, to June 6, 2021. Show the two solution 3.) Using the four methods, find the interest on Php. 4,400 at 5 4/5 % simple interest from September 9, 2020, to April 19, 2021
- Insert an answer for each of the following p= $ 3,200, r=.023, t= 3months. interest ? ________________________. p=$ 1,700, r=.055, t= 90 days. interest ? ____________________________. sales $ 3,790, returns $ 390, sales terms 2/10 n 30. discount ________________? and remittance ( paid) __________________________? ( assume paid in discount period)4. What account should you invest your money in? (Hint. Calculate the APY of each account) Account 1: Compounded annually with APR of 3%Account 2: compounded monthly with APR of 2.75%Use the compound-interest formula to find the account balance A, where P is principal, r is interest rate, n is number of compounding periods per year, t is time, in years, and A is account balance. P r compounded t 1 1 $53,530 Quarterly 22 C The account balance is approximately $. (Simplify your answer. Type an integer or decimal rounded to two decimal places as needed.)
- principal, r is interest rate, n is number of compounding periods per year, t is time, in years, and A is account balance. Use the compound-interest formula to find the account balance A, where P P compounded 1 $55,716 4-% Quarterly 85 The account balance is approximately $ (Simplify your answer. Type an integer or decimal rounded to two decimal places as needed.) esc 80 F2 F3 F4 F10 FII F12 @ 2# $ % & * 2 4 5 6 7 Q W E R Y PExercise (1.77) You deposit an amount X into an account at time 0 and 2X into the same account at time 3. The account balance at time 5 is 5,000. If the account has earned a 4% annual effective rate, what is the value of X? Answer: 1,479.35Insert the answer for each of the following: A. P=$4,500, r=.06, t=4 years. Interest ?__________________________. B. p= $ 3,200, r=.023, t= 3months. interest ? ________________________. C. p=$ 1,700, r=.055, t= 90 days. interest ? ____________________________. D. sales $ 3,790, returns $ 390, sales terms 2/10 n 30. discount ________________? and E. remittance ( paid) __________________________? ( assume paid in discount period)
- Suppose that P dollars in principal is invested in an account earning 2.1% interest compounded continuously. At the end of 2 yr, the amount in the account has earmed $193.03 in interest. a. Find the original principal. Round to the nearest dollar. (Hint: Use the model A = Pe" and substitute P + 193.03 for A.) b. Using the original principal from part (a) and the model A = Pe", determine the time required for the investment to reach $6000. Round to the nearest tenth of a year.Suppose you deposit $1,030.00 into an account 4.00 years from today. Exactly 13.00 years from today the account is worth $1,677.00. What was the account's interest rate? Submit Answer format: Percentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex: 0.09243)) Show HintSuppose you deposit $1,016.00 into an account 4.00 years from today. Exactly 13.00 years from today the account is worth $1,741.00. What was the account's interest rate? Submit Answer format: Percentage Round to 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex. 0.09243))