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- Richard contributed $1,100 at the end of every 3 months, for 3 years, into a Registered Retirement Savings Plan (RRSP) earning 2.50% compounded quarterly. a. What is the future value of the fund at the end of 3 years? Round to the nearest centA saving account earns compound interest at an annual effective interest rate i. Given that d12,41 = 0.08, Find i1,51- %3DFrom this partial advertisement: $86.83 per month for 60 months $3,700 used car cash price $50 down payment a. Calculate the amount financed. Amount financed Finance charge $ b. Calculate the finance charge. Note: Round your answer to the nearest cent. 3,650 Deferred payment price S 1,559 80 c. Calculate the deferred payment price, Note: Round your answer to the nearest cent. S 5.250.00
- Cullumber Corporation is about to issue $1.120,000 of 9-year bonds that pay a 5% annual interest rate, with interest payable semi- annually. The market interest rate is 6%. Assuming all bonds are issued, how much can Cullumber expect to receive for the sale of these bonds? (a) Your answer is correct. Of the variables listed in the dropdown, choose the variable being calculated? Present value eTextbook and Media Attempts: 1 of 3 usedIf beginning and ending interest receivable were P16,000 and P5,000, respectively. Total interest income for the period amounted to P52,000, how much would be the amount of interest collections for the period?a. P31,000 c. P52,000b. P41,000 d. P63,000Using the simple interest formula I= Prt, compute the amount of interest earned on $1141.00 at 8.06% p.a. for 193 days. The interest eamed is $. (Round the final answer to the nearest cent as needed. Round all internadiate values to six decimal places as needed.) Enter your answer in the answer box.
- Use Table 12-2 to calculate the present value (in $) of the annuity due. (Round your answer to the nearest cent.)A design studio received a loan of $9,400 at 5.90% compounded monthly to purchase a camera. If they settled the loan in 2 years by making monthly payments, construct the amortization schedule for the loan and answer the following questions. a. What was the payment size? Round to the nearest cent K SUBMIT QUESTION SAVE PROGRESS SUBMIT ASSIGNMENT 12°C Partly sunny ENG 10:03 8/5/2What is the total unearned interest income? *a. 2,410,000b. 1,666,000c. 1,210,000d. 166,000
- 1. Suppose you have an account with an APR of 6%. (a) If interest is compounded daily, determine the APY to the nearest 0.01%. (b) If, instead, interest is compounded continuously, determine the APY to the nearest 0.01%.Find the loan principal. Rate Time (Days) Interest Principal 12% 140 $11.40 ? The loan principal is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needeUse factors and a spreadsheet to determine the interest rate per period from the following equation: 0 = -26,000 + 8,000(P/A,i∗,5) + 8,000(P/F,i∗,8) What is the interest rate per period? %