Q: Mr. Santos will deposit P10, 000 at the ABC bank at the end of each quarter for 2 years. If the bank…
A: Future value of an annuity can be computed by compounding each amount by using an appropriate…
Q: Aira is planning to deposit RM10,000 today in Investment account that pays interest of 8% per annum.…
A: Amount of money in the account at the end of year 10 is the future value of the amount at the end of…
Q: Helen has two debts to pay; a $3500 today and a $4500 in 9months from today. How much should she pay…
A: Present Value(PV) is value of a future amount at current point of time. It is done by discounting…
Q: You would like to have $8,000.00 in 15 years for a special vacation following graduation by making…
A: Using the PMT function in excel
Q: Carlo paid P 13,500 after two years to fully pay his loan that costs P 10,000. What is the interest…
A: Loan to be repaid on maturity = C* ( 1+i)n Where C is the amount of loan borrowed i is the periodic…
Q: Peter has RM10,000 that he can deposit in any three savings accounts for a 3-year period. Bank A…
A: answer deposit amount =RM10,000 Rate of interest = 4% period = 3 year bank A = compounding annual…
Q: Clara borrows $41,000 today at 2.9% per year compounded quarterly, to start her own buisness. she…
A: In this question we need to compute the Clara's quarterly payments from following details: Loan…
Q: Kym plans to deposit $100 in an account at the end of each month for the next five years so that she…
A: The monthly payment is $100 for the next five years at 6% compounded monthly. Future value of an…
Q: If Trey opens an account with $7,500 and plans on depositing $1,500 every year-end, how much will he…
A: We will use the concept of time value of money here. As per the concept of time value of money the…
Q: Buhle wants to save R330 284,00 within the next four years. She makes equal monthly deposits at the…
A: given, future value = R330 284,00 r=12.5% m=12 (monthly compounding) n = 4 years
Q: Roland just put RM1,000 in the fixed deposit and intend to leave it there for 10 years. If the bank…
A: Investment amount = RM 1,000 Annual interest rate = 16% Semi annual interest rate = 16%/2 = 8%…
Q: Mr Ramos wants to accumulate Php100,000 in 5 years. He wants to deposit a regular amount at the end…
A: Given, The amount to be accumulated is Php 100,000 Number of years is 5 years Rate is 12%
Q: Mr. A wants to receive a consistent amount from a bank that offers 60% nterest to be compounded…
A: Interest Rate = 6% Compounded Annually First Withdrawal after 5 years Time Period for years (T) = 4…
Q: Christopher wants to have 50,000 pesos in 4 years by saving equal regular payments. He can make a…
A: Present value is the sum of the current value of money of future cash flows. It is also known as a…
Q: Jovaira deposits ₱10,000 every 3 months in a time deposit account giving 7% interest rate compounded…
A: The amount at the end of 5 years can be computed with the help of future value of annuity
Q: You own Php35,000 from the bank for 3 years at 8.50% annual interest, and you will make equal…
A: Loan amount (P) = Php35,000 Monthly loan term (t) = 36 (i.e. 3 years * 12) Monthly interest rate (r)…
Q: Akbar has borrowed $48,000 today and agreed to repay it in 5 years with monthly payments at the…
A: Given information: Amount borrowed is $48,000 Interest rate is 2.60% Number of years is 5 years
Q: Your grandmother set up an annuity, in which she will receive a monthly payment from the bank of…
A: The present value of an annuity is the present value of a series of cash flows at a certain rate of…
Q: How much should Mang Juan deposit in his account every month to accumulate 1,000,000 in 15 years if…
A: Given information : Expected amount 1000000 Time period 15 Interest rate 7% Effective…
Q: John contributes $5,000 per month into an account. How much will he have in the account after 25…
A: In the given question we require to calculate the future value of account after 25 years is john…
Q: You would like to have $59,000 in 5 years for the down payment on a new house following graduation…
A: Future Value= $59,000; No. of periods= 5*4= 20 years, Interest rate per period = 4.24/4=…
Q: A. Zoey deposits $500.00 every quarter into an account earning 5% interest compounded quarterly. How…
A: The time value of money is the concept widely used to determine the correct worth of the sum to be…
Q: Mrs. Dollie availed a cash loan that gave her an option to pay Php10,000 monthly for one year. The…
A: An annuity is a stream of cash flows wherein an equal payment is paid at the end of every period.
Q: How much is the cash price of the car if Mrs Ocampo is to pay Php 21,000 monthly in 5 years? The…
A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…
Q: If Ms Chan is thinking of putting RM10,000 into the saving accounts at the end of each year for 10…
A: Annual deposits (PMT) are $10,000. The rate of interest (Rate) is 8%. The maturity (Nper) is 10…
Q: Can you please help me work this problem out in detail? Carol is depositing $250 into an account…
A: The amount deposited every six months is $250. The total number of deposits in 5 years would be 10.…
Q: Billy plans to deposit $200 into a bank account at the end of every month. The bank account has an…
A: According to the time value rule, the same amount of money can have different purchasing powers in…
Q: To pay for your child's education, you wish to have accumulated P15,000 at the end of 15 years. To…
A: Future value (F) = P15,000 Time period (n) = 15 years Rate of interest = 6% (compounded annually)
Q: Mary wants to have $14000 for a trip to Mexico in five years. How much does she need to deposit at…
A: The future value of annuity would be considered the value accumulated in future with a view to…
Q: Jun has decided to save money roughly P25 per week. Suppose he makes weekly deposits of this money…
A: Compounding is also termed as an interest on interest which means that a company calculates interest…
Q: In 7 years Harry and Sally would like to have $20,000 for a down payment on a house. How much should…
A: A down payment seems to be a monetary payment made at the start of a purchase deal. It is frequently…
Q: The Jones want to save $95,000.00 in 5 years for a down payment on a house. If they make monthly…
A: A down payment is often paid in cash in the early stages of a purchase of an expensive service or…
Q: Suzana would like to accumulate RM5,000 in 3 years in a saving account which pays 6% annual interest…
A: A. Monthly deposit at the end of the month P= PMT * ((1+r)^n-1)/r P= future value of annuity PMT=…
Q: Keira wants to invest $4,300 in an account with an interest rate of 7.2% that is compounded MONTHLY.…
A: Information provided: Term = 9 years Interest rate = 7.2% compounded monthly Principal = $4300…
Q: Tess wanted to have P100,000 on her bank account at the end of 8years. She plans to deposit an…
A: Annuity refers to series of annual payment which are paid or received at start or end of specific…
Q: Mrs. Reyes decided to save money for her grandchild. She deposit Php 300 each month into an account…
A: Annuity: It refers to the present and future value of recurring payments at a particular point of…
Q: Mr & Mrs. John have decided to start a monthly savings program in order to provide for their son's…
A: Accumulated amount (F) = RM 50,000 Annual interest rate = 6% Monthly interest rate (r) = 6%/12 =…
Q: An individual wants to have 1,000,000 AED in 10 years. Suppose she will pay no taxes at the end of…
A: According to the question, an individual wants 1,000,0000 AED in 10 years i.e. the amount of…
Q: ABC bank pays interest at the rate of 2% compounded quarterly. How much will Ken have in the bank at…
A: Periodic Payment = P 3,000 per month Interest Rate = 2% compounded Quarterly Time period = 5 Years
Q: Layla puts PhP 45,000 into an account to use for future expenses. The account earns 13%, compounded…
A: Deposit amount (PV) = Php 45,000 Annual interest rate = 13% Interest rate quarterly (R) = 13%/4 =…
Q: Dory deposits a certain amount of money into her savings account at the beginning of each quarter…
A: Future value of a present value is the value of that amount after taking into account the time value…
Q: Lina borrowed 5000 at 8% compunded monthly. She must begin to repay it at the end of this month and…
A: Ordinary annuity refers to the series of periodic payments that a borrower has to make regularly to…
Q: Tanya deposits ₱1,500 at the end of each quarter in her savings account. If the account earns 6.75%…
A: The amount deposited in the savings account grows on the basis of interest rate and the duration of…
Q: Ayesha wants to deposit 300 per year in a bank for the next 10 years. The bank pays annual interest…
A: Future value refers to the worth of the amount which is invested today at some future specified date…
Q: Mae expects to receive $1,000 at the end of each of the next three years. She will deposit these…
A: Mae expects to receive at the end of each of next three years = $1000 She will deposit these…
Q: Tim needs to borrow money today. He agrees to pay back the loan via 30 equal monthly installments of…
A: Present Value of annuity refers to the value of cash flows today of a series of equal cash flows or…
Q: Mr. Nina borrows $425,000 from the bank at 3.5% per year interest over a 30-year period. He can make…
A: Amount borrowed = $425000 Interest rate = 3.5% Period = 30 years Monthly payment = $1400
Q: Sabel converted her loan to light payments which give her an option to pay PHP1,500 every quarter…
A: Answer: Calculation of the amount of the loan: Given: Quarterly payment (P) = PHP1,500 Number of…
Maria wants to have ₱750,000.00 at the end of 4 years for her
graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly.
a.) What is the monthly rate?
b.) How many total deposits?
Step by step
Solved in 2 steps
- Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264Maria wants to have ₱750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly.What is the monthly rate? What is the total number of deposits?Maria wants to have ₱750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly. Which of the following refers to the monthly rate? Which of the following refers to the total number of deposits?
- Tess wanted to have P100,000 on her bank account at the end of 8years. She plans to deposit an amount at the beginning of each month at an interest rate of 3.5% compounded quarterly.a.What is her monthly deposits?b.What is the present worth of these deposits?Maria wants to have ₱750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly. 1.) Which of the following refers to the monthly rate? * a.) 12% b.) 0.0125% c.) 15% d.) 1.25% 2.) Which of the following refers to the total number of deposits? * a.) 12 b.) 60 c.) 5 d.) 48Dory deposits a certain amount of money into her savings account at the beginning of each quarter for the next 4 years. She wants to have Php. 100,000.00 after 4 years. If the interest rate is 8% compounded quarterly, how much does she have to deposit at the beginning of each quarter? Create an amortization table
- Suzana would like to accumulate RM5,000 in 3 years in a saving account which pays 6% annual interest compounded monthly. How much should she saves every month if she makes her deposit: (a) At the end of each month. (b) At the beginning of each month. (c) At the end of each month, with the last payment to be made 6 months before 3 years. 5.Please help me answer the following time value of money question. Suppose Nicole deposits $50,000 in an account that pays 9% compounded annually. How long does it take before her balance is $125,000?For numbers 4 to 5: Maria wants to have ₱750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly.4. Which of the following refers to the monthly rate? A. 1.25%B. 15%C. 12%D. 0.0125% 5. Which of the following refers to the total number of deposits? A. 12B. 60C. 48D. 5 6. Find the actual time from February 1, 2017 to July 23, 2017. A. 170 daysB. 171 daysC. 172 daysD. 173 days 7. Eleven months after borrowing money, Dorah pays an interest of ₱2,800. How much did she borrow if the simple interest rate was 11 1/3 % ? A ₱290.89.B. ₱291.86C. ₱26,951.87D. ₱26,862.12
- if her dad deposits R3570,00 at the end of every six months for the next four years into a bank account. The account pays 8,5% interest per annum, compounded semi-annually. Her father pays and additional R5550,00 into the account for every R3570,00 deposit he makes. The first deposit will be made six months from now. How much money will there be in the account for Aziz to pay for her college expenses?A person needs $18,000 immediately as a down payment on a new home. Suppose that she can borrow this money from her company credit union. She will be required to repay the loan in equal payments made every six months over the next 11 years. The annual interest rate being charged is 11% compounded continuously. What is the amount of each payment?Jona has decided to deposit ISK 200, 000. deposit into a bank account, annually, for the next 5 years, which is then a total of ISK 1, 000, 000. The first payment is in exactly 1 second (ie immediately) and then there are 4 payments after that. Interest on the account is 8% per annum for the first 2 years and then 6% per annum after that. How much will Jóna have in the account after 5 years? Group of answer choices ISK 1, 267, 186 ISK 1,210, 023 ISK 1, 277, 538 None of these are correct ISK 1, 276, 558 ISK 1,410,023
