f you have only $750 on January 1, 2019, what interest rate, compounded annually for 3 years, must you earn to have $1,000 on January 1, 2022?
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f you have only $750 on January 1, 2019, what interest rate, compounded annually for
3 years, must you earn to have $1,000 on January 1, 2022?
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Solved in 2 steps
- 1. What interest rate compounded monthly is equivalent to 10% effective rate?Chris makes a deposit of $500 into his savings account at the beginning of each year for the next 20 years. If the account earns 5% interest rate per year compounded annually, what will be the future value at the end of 20 years?Need to calculate.2. A loan of $25,000 was repaid at the end of 9 months with $28,500. What annual rate of interest wascharged?3. If an investment company pays 16% compounded quarterly, how much should you deposit to have $5,000two years from now?
- c. You want $1,000,000 in the bank when you retire in 35 years. How much should you deposit each year? Assume an interest rate of 10%. What is the annual payment if you defer retire to 40 years?17. What is the effective annual interest rate if the nominal interest rate is 6%, compounded monthly?Assume, you want to get $1,000 after 5 years. How much equal amount of money do you need to deposit in an account that earns 12% annual interest to get that money? Check you answer with interest table.
- How long will it take money to double if it earns 4 percent per annum compounded annually?How much will a bank deposit of $2,000 that pays 10% compound interest be worth at the end of 3 years?QUESTION 1 Muhammad takes out a loan of $ 2,130, at 8% simple interest, for 8 years. How much will he pay back at the end of year 8? QUESTION 2 Calculate the amount of interest on an investment of AED 103,971 at 8% simple interest for 5 years. QUESTION 3 If you deposit today $7,335 in an account for 6 years and at the end accumulate $10,885, how much compound interest rate (rate of return) you earned on this investment ? QUESTION 4 You will deposit 12,025 at 10% simple interest rate for 9 years, and then move the amount you would receive to an investment account at 12 % compound rate for another 3 years. How much money would you have at the end of the entire period ?
- Rafael invested $2,000 in a business that yields an annual interest rate of 10% compounded continuously. How much would he get. approximately at the end of 5 years from his investment?2. How many years are required for your money to triple if it is invested at 9% compounded? a. annually b. semi-annually c. quarterly,7. What is the future worth of $2,000 at the end of each month for 10 years at 10% compounded monthly?