1.2 Assume Ruvi bought a new car for R300 000. The car depreciates at 12.5% p.a. on a straight line depreciation method. This can be easily calculated using a simple table. Hint: Use provided interest rate to determine the value of residual. What will the value of Ruvi's car be in five years' time? Age of car in years Depreciation expense Book value You can also use the formula below to verify your book value after 5 years: (no marks) A = P[1 - (i)(n)]

Q: You borrow 150000 DHS from your dad and promise to pay back 176550 DHS in thirty-six (36) months.…

A: We use the following:

Q: Katie is 25 years old and wants to save $1 million for retirement in 30 years. Assume she invests in…

A: a) t = 0 yrs,  Savings required  = 1,000,000 ÷ (1 + 6.67÷100)0  = $1,000,000    b)  t = 10 yrs,…

Q: Skippy wants to have $15,000.00 in 8 years. His bank is offering an account that earns 2% compounded…

A: Future value, F=$15000 Time, t=8 years. Interest rate, i=2%=0.02 Compounded frequency, m=12

Q: The principal represents an amount of money deposited in a savings account subject to compound…

A: Given that,

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A:

Q: alculate the no. of interest period ( n ) when the principal amount is P 1500.00 is invested at the…

A: Using simple interest formula

Q: The principal represents an amount of money deposited in a savings account subject to compound…

A: Given problem Given that   The principal represents an amount of money deposited in a savings…

Q: your bank pays 4% interest, compounded semiannually. Use Table 12-1 to find the value (in$) of $500…

A:

Q: A student takes out a college loan of $8000 at an annual percentage rate of 4%, compounded monthly.…

A:

Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

A:

Q: Liza borrows 15,000Php for 3 years and agrees to pay 6 % compound interest for this period. What…

A:

Q: ractice what you learned in the previous activity by answering these questions. uppose $2700 is…

A: Given query is to find the amount after 10 years.

Q: 5. Andy plans to have a fixed amount from his paycheck directly deposited into an account that pays…

A: Present value = R× future value/ {1-(1+R) -n } Where, R= rate per month n= number of month

Q: Suppose you saw an advertisement in the newspaper for a financial planner who was recommending a…

A: Supposed principal amount is Compounded quarterly, Rate, APY given that=3.34 %

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

A:

Q: Assume you take out a $2000 loan for 30 months at 9% APR. How much of the first month's payment is…

A: Formula: I=Prt where I= Final amount P=Initial balance r= rate of interest t= time in years

Q: Nathan and Stephanie are saving for their daughter's college education. Their daughter, Paige, is…

A:

Q: On July 10, Isabella opened a savings account with $900. It earned 3% interest, compounded daily. On…

A: To find out the amount at the end of the day on July 11.

Q: Jolene's MasterCard statement shows an average daily balance of $680. Find the interest due if the…

A: Here, average daily balance= 680 rate=0.016

Q: You borrow Ksh 1.2million to buy a new car. The lender charges 5% p.a. compounded at the end of each…

A: Given: Principal amount P = 1,200,000 Interest i = 5% p.a Loan period n = 5 years

Q: Find the interest of P50,000.00 deposited in a bank that pays 5 ½ % in 165 days. (Hint: 1 year 360…

A: Solution

Q: Find the balance of an account that starts with $12,000 at a 4.8% annual interest rate after 7…

A: Given  Principal P= $12000 Rate of interest = 4.8% = 0.048 Time T = 7 years.  We have to find the…

Q: Please explain: Suppose that $2000 is placed in an account that pays 13% interest compounded each…

A: According to the given information in this question We need to answer two parts

Q: 7. Suppose you buy a new car for $22,000. You put down $1500 and take out a loan for the rest. You…

A:

Q: $3,000 is invested for 18 months compounded at the interest rate of 0.75% every month. Give your…

A:

Q: Lashonda takes out a loan for her college tuition from a bank that charges simple interest at an…

A: using,   simple  interest = p×r×t where, p= principal              r= rate%             t= time .

Q: 11. You have $10,000 in a savings account that pays 4.2% APR compounded monthly. Find the balance on…

A: It is given that you have $10,000 in a savings account that pays 4.2% APR compounded monthly.