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A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…
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A: Monthly payment = $2,500 Interest rate = 6.3% Time period = 3 Years
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Q: a $1,400 deposit when $1,800 is paid back in one year. (Round your answer to 2 decimal places.)
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Q: A bank pays 6% interest, compounded semiannually. Use the appropriate formula to find how much…
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A: Deposit amount (PV) = $60 Interest rate (r) = 10% Period (n) = 6 Years
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Find the accumulated amount of P 1000 after 5 years when deposited in a bank at a rate
of 16% compounded monthly
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Solved in 3 steps
- Find the final amount of money in an account if $7,400 is deposited at 7.5% interest compounded semi-annually and the money is left for 6 years.A sum of 2500 TL is deposited in a bank and cashed back at the end of 3 year as 5000 TL. Find the monthly and annual interest rate. Write your accounts 3 digits after the virgule.Find the final amount of money in an account if $700 is deposited at 6.5% interest compounded annually and the money is left for 5 years.
- An amount of money P is deposited in a savings account that pays interest at a rate of r percent per year compounded quarterly; the principal and accumulated interest are left in the account. Find a formula for the total amount in the account after n years.Assume that 1500 Php is deposited in an account in which interest is compounded annually at a rate of 6% for 5 years. How many times is compunding done in a year. What is the initial or rincipal amount. then what is the rate of interest?2. Deposit the principal amount of P10,000 into a savings account that pays interest at the rate of 5%. What is the amount in the account after 1 year if the account is: a. compounded annually b. compounded semi-annually c. compounded quarterly d. compounded monthly e. Which is advantageous to the investor?
- how much should you deposit in a bank paying 2% compounded quarterly to accumulate an amount of 80,000 in 5 years and 9 months ?How much should be deposited deposited in a bank paying 1.15% compounded semi – annually to accumulate an amount of ₱ 80,000.00 in 5 years?Find the compound interest earned if PhP 41,139 is deposited in a bank at 3.2% compounded monthly for 2 years and 2 months
- Calculate the future value (in dollars) of $1,150 deposited into an account earning an annual simple interest rate of 6% compounded daily after 3 yearsSuppose that you deposit $10 at the end of each day into a savings account that pays 2% interest compounded daily. After a year, --------- is in the account?Determine the interest rate earned on a $1,500 deposit when $1,680 is paid back in one year.