a depositer depositedPhp 1509 in a 3%account compoundedcontinuously. In asecond account, hedeposited Php800 in a9% accountcompoundedcontinuously. How longwill it take for the 2accounts to be the samein amount?

First account: Amount deposited = Php 1509 Interest rate = 3% compounded continuously Second…

Answered: a depositer deposited Php 1509 in a 3%…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

The following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit. $4000 at 1.21% compounded semianually for 3 years. The compound amount is $ (Do not round until the final answer. Then round to the nearest cent as needed.) The interest earned is $. (Do not round until the final answer. Then round to the nearest cent as needed.)
Find the new balance, assuming that the bank charges 1 1/2 % per month on the unpaid balance. (Round your answer to the nearest cent.) PreviousBalance Payment NewPurchases $134.31 $45 $73.98 $
You deposit $100, $150, & $200 in a bank account at the end of years 1,2,& 3 and earn 7%interest. If (P/G, 7%, 3)=2.506 and (A/P, 7%, 3)=.3811 what is the present value (now) ofthese deposits.
a. Hamed deposit R.O (A + 130) in a B% account and compounded quarterly. At the same time Ismail deposit R.O (A + 160) in a D% account compounded monthly. Find the time that will take for the amounts in the two accounts to be equal? A=18 B=19 D=19
2. The Company place a fixed deposit of $1,000,000 with the bank on 28.12.10 for a period of 7 days and would earn an interest of $700 upon maturity. What is the double entry on 31.12.10 to record the accrued interest earned?
6. A cheque for RO 2,000 is presented in the clearing on the 20-01-2020 for payment when the balance in the account is RO 550. The customer has a fixed deposit account with a bank for a sum of RO 1500.
The following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit. $2500 at 6% compounded daily for 2 years. What is the compound amount? (Round to the nearest cent.)
Sunshine Service Center received a 120-day, 6% note for $40,000, dated April 12 from a customer on account. Assume 360 days per year. a. Determine the due date of the note. b. Determine the maturity value of the note. When required, round your answers to the nearest dollar.$fill in the blank df5724f79f8d02f_2 c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Aug. 10 Cash Cash Note Receivable Note Receivable Interest Revenue Interest Revenue
The opening balance of a savings account for November is $2,004.On November 9. S621 was withdrawn from the account. On November 22, 449 was withdrawn from account. t the acoount pays simple interest at 195% based en the daily cosing balance how much interest is deposited on December 17 For marks your answer should be rounded to he nearest cent Interest = S 0.00
H5. On March 3, the balance on a credit card was $4, 173.14. A payment of $420 was made on March 12, and a charge of 883.54 was made on March 20 . If the finance charg based on a 1.5% interest rate, calculate the average dally balance on April 3 . Please show all calculation
C. Complete the following table: Value of the Deposit Mathematical Expression Used to Deposit Deposit Amount How long it will be in the account After 5 Years Find this Value 1 $350 59 months 469.74 350(1.005)" $350 58 months 350(1.005)* 467.41 $350 57 months 350(1.005)*7 3 465.08 2 months 350(1.005) 58 $350 354.50 1 month 350(1.005)' 59 $350 351.75 60 $350 O month 350 350(1.005)° d. We could find the value of the account after 5 years by adding all the values in the 4th column (if we actually extended the entire table. Why would we not want to do this? e. Use the last column to find the value of the account after 5 years. f. How much interest did Jack earn from the bank in these 5 years? g. If Jack kept saving what would the value of his account be after 10 years ? How can we adjust our answer to question e to answer this question? ..
Suppose 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))

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

a depositer deposited Php 1509 in a 3% account compounded continuously. In a second account, he deposited Php800 in a 9% account compounded continuously. How long will it take for the 2 accounts to be the same in amount?