$20,000.00 borrowed today for 2 years at 5% Compound Interest will result in how much total interest (I) at the end of Year 2? a) $2000.00 b) $2050.00 c) $20,000.00 d) $22,000.00
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Given:
The principle (P) is $20,000.
The rate of compound interest (R) is 5%.
The number years n is 2.
Calculation:
The compound interest can be calculated as,
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- Deposits of 35 000.00, 48 000.00, and 25 000.00 were made in a savings account eight years, five years, and two years respectively. Determine the accumulate amount in the account today if a withdrawal of 55 000.00 was made four years ago. The applied interest rate is 12% compounded continuously.An amount of $ 500 was borrowed for the period from January 10 to October 28, 1996 at 16% interest. a) Calculate the exact simple interest. b) What is the total amount to be paid at the end of the period?3. On january 1, 2016, Diana opened an account with a P 50,000 deposit. On january 1, 2017, she withdraws P 25,000 and on january 1, 2019 she deposits P 75,000. If the account earns 7.5% interest, compounded yearly, and no further deposits or withdraws are made, what was the balance on january 1, 2021?
- . Determine the exact simple interest on P 5,000.00 for the period from May 16 2016 to October 18, 2022 if the rate of interest is 15%Determine the equivalent amount pf money at the beginning of the second year if interest is 6% per year, compounded monthlyI need to solve all questions and in handwriting Q3/ Find the effective interest rate per quarter at nominal interest rate og 8% compounded a)quarterly, b) monthly, c) weekly, and d) daily Q4/ Suppose you make $500 deposit monthly at interest rate of 10% compounded monthly. What is the amount (F) will be at the end of 10 years?
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- Question 2 (1 point) Listen Rachel can earn 3% interest in her savings account. Her daughter Dani is 11 years old today. Suppose Rachel deposits $4000 today, and one year from today she deposits another $500. Each year she increases her deposit by $500 until she makes her last deposit on Dani's18th birthday. how much is on deposit after the 18th birthday? $20,635.62 $18,236.68 $23,623.00 $26,369.36 Previous Page Next Page. Determine the exact simple interest on P1,000 for the period from January December 31, 2012 at 12% interest rate.How much is the interest and the accumulated amount that will be paid on a P 35,750 loan that was made on May 1, 2002 and repaid on August 1, 2005 with exact simple interest at 6.34% per year.