An account was opened with an investment of OMR2,000 10 years ago. The ending balance in the account is OMR3,500. If the interest was compounded annually, what rate was earned on the account?

Q: Suppose an individual makes an initial investment of $2,400 in an account that earns 6.6%,…

A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…

Q: If an investment of $5,000 is made in an account returning 2% p.a. then how long will it take for…

A: Using excel NPER function

Q: An amount was borrowed from a bank at a simple interest rate of 12.41% and paid after 5 years and 7…

A: F = P(1+(R*T))   Where F = Future Value. P= Present Value R = Rate of Interest T = Time

Q: An amount of $1200 is deposited for 7 years in an account that earns 9% interest. (Round your…

A: P = $1,200R = 9% or 0.09 (as a decimal)T = 7 years

Q: An Account has an balance of $3500 an earns an  annual compound intrest rate over 2 yrs leaving the…

A: Future value ($4,390.08) is the worth of cash we have today ($3,500) after 2 years. Basically…

Q: Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20…

A:

Q: Sue Li deposited $200.00 into a savings account that compounded interest semi-annually. What nominal…

A: compound = semiannually = 2 Present value = pv = $200 Future value = fv = 585.30 Time = t = 3 * 2 =…

Q: An account paying annual compound interest was opened with 2000 10 years ago. Today the account…

A: Simple Interest is method for computing interest where principal remains constant whereas in…

Q: An amount of $1800 is deposited for 7 years in an account that earns 7% interest. (Round your…

A: simple interest formula: I = P×r×t100where,p = principalr = rate of interestt = no of years

Q: What was the annual rate of simple interest offered on a savings of $7106 if the amount of interest…

A: What was the annual rate of simple interest:- Given information:- Savings(P)…

Q: RM23,500 was invested in a bank for 3 years 7 months. If the interest rate offered was 9.6%…

A: Using excel FV function

Q: A bank account pays 5.2 % annual interest compounded semiannually. How much money should be…

A: The amount to be deposited today can be calculated with the help of present value function Future…

Q: Find the interest rate of an account where a person initially invested $3000 with a fixed annual…

A: Given information Present value (PV) = $3,000 Future value (FV) = $5,000 Time period (t) = 11 years…

Q: Find the accumulated value of an investment of $10,000 for 5 years at an interest rate of 4.5% if…

A: Future value is the expected value of current sum in the near future.

Q: Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20…

A: APR stands for Annual Percentage Rate. It is a measure of the borrowing cost, expressed as a yearly…

Q: What amount needs to be deposited into an account earning 4.3% interest compounded annually to have…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: The exact simple interest of P7,000 invested from April 28, 2002 to December 25, 2002 is P700. What…

A: Formula: Simple Interest = Principal Amount x Time period x Rate of Interest

Q: Find the compound amount and the amount of interest earned by the deposit below. $9,000 at 7.79%…

A: Deposit amount (P) = $9000 Interest rate (r) = 7.79% Period (t) = 3 years Mathematics constant (e) =…

Q: A man deposited P5,000 in a bank at a rate of 10% per annum for 9months and 25days. Find the…

A: Future value of deposits is the sum of all the deposits compounded using the provided discount rate.

Q: $7000 are invested in a bank account at an interest rate of 6 percent per year. Find the amount in…

A: Here,

Q: What annual rate of interest must the account earn in order to grow $11909 in 12 years?

A: The time value of money recognizes the idea that the value of an amount of money today differs from…

Q: How is the accumulated value 12,373.78 if yearly payments of 20,000 are made?

A: Solution:- When an equal amount of payment is made each period at the beginning of period, it is…

Q: Complete the table for an account in which interest is compounded continuously. (Round your answers…

A: This is a case of continuous compounding. We will have to convert the given rate to the EAR…

Q: Suppose you deposit $2606.00 into an account today. In 7.00 years the account is worth $3969. The…

A: Present Value = pv = $2606Time = t = 7 YearsFuture Value = fv = $3969

Q: If $525$⁢525 is invested at 14%14%, how much money will be in the account after 3030 months? Round…

A: An amount is the total payments received after a period of time for which it is borrowed.

Q: How much money was deposited each year for 10 years if the account is now worth S500,000 and the…

A: To open the "PMT function" window - MS-Excel --> Formulas --> Financials --> PMT. To open…

Q: Suppose that ​$290,000.00 is owed on a house. The monthly payment for principal and interest at 8.0%…

A: The amount paid by the borrower on the amount owed is regarded as interest rate.

Q: A sum of 12,500 amounts to 15,500 in 4 years at the rate of simple interest. What is the rate of…

A: Simple interest is defined as an interest type, which is an easy method for the calculation of an…

Q: If the interest is deposited into a non interest bearing account B, what is the balance in account B…

A: The first investment is effectively a payout annuity where the interest amount is withdrawn each…