Carlos takes out a 7 year loan for $14,175.00. He will make level bi-weekly payments of $106.00, except for the last one which will be either a balloon or a drop payment. The interest rate is i(2) = 9.500%. Is the last payment a balloon or drop payment, and what is the last payment amount

Rashed wants to make his investment triple its value at the end of twelve (12) years’ time. What rate of interest, compounded yearly does he expects?

A businessman needs to have P200,000 in eight years. How much(P) must he put into his 18% savings account in the bank? A bank is always use compound interest.

Suppose you borrow $3,000 at 6.75% interest for 8 months.  What is the maturity value?

The accumulated amount of 40,454.3Pesos is from a 5 year annuity account that requires to pay 6,000Pesos at the end of each year. What is the interest rate if the account is compounded annually? *       15%     12%     8%     20%

Addy plans to deposit her annual bonus into a savings account that pays 4% interest compounded annually. The size of her bonus increases by $1000 each year, and the initial bonus amount she will deposit at the end of year 1 is $2500 a) Determine how much will be in the account immediately after the 6th deposit. b) What's the future value if she only plans to deposit her annual bonus for 8 years C) What's the future value if she only plans to deposit her annual bonus for 8 years (the last deposit is at the end of year 8 but also plans to skip the deposits at the end of vears 3 and 6?

If the nominal interest is 12% compounded continuously, compute the effective annual rate of interest.

An 8-year annuity due has a future value of $1,000. If the interest rate is 5%, what is the amount of each annuity payment?

You deposit $5000 each year into an account earning 8% interest compounded annually. How much will you have in the account in 20 years? $

Mr. Benedito, a grocery store owner, borrows $50,000.00 from a loan shark, handing him a $77,000.00 promissory note with a maturity of 6 months. What is the annual and monthly simple interest rate charged by the loan shark?