Find the present value of $90,000 due in 7 years at the given rate of interest. (Use a 365-day year. Round your answer to the nearest cent.) 3%/year compounded quarterly

Q: Skippy wants to have $15,000.00 in 8 years. His bank is offering an account that earns 2% compounded…

A: Future value, F=$15000 Time, t=8 years. Interest rate, i=2%=0.02 Compounded frequency, m=12

Q: You deposit $500.00 every month into an account earning 2% interest compounded monthly. How much…

A: solution of the given problem is below...

Q: You decide to quit using your credit card and want to pay off the balance of $2,400 in 3 years. Your…

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Q: A deposit of $20,000 is placed in a scholarship fund that earns an annual interest rate of 2.75%…

A: Amount deposited Interest rate  compounded daily.Time period  years.We have to find the amount in…

Q: encourage new members a bank offers a savings account of 2.4% interest mpounded monthly provided new…

A: We will determine the account value after 10 years.

Q: 15000 with an interest rate of 8% compounded monthly how long will it be until the account has a…

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Q: Find the effective rate of interest.; For 6% compounded monthly

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Q: The principal represents an amount of money deposited in a savings account subject to compound…

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Q: You put $500 into an account paying 2% compounded monthly. What size can you withdraw at the…

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Q: Appa deposits $1000 in an account earning 3.8% interest compounded monthly. How much will Appa have…

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Q: $850 at ​6% compounded daily for 16 years The final value is what

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Q: Find the compound amount for the deposit and the amount of interest earned. $2000 at 2% compounded…

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Q: You deposit $5000 into savings account that earns 0.6% compounded monthly. If you don't any…

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Q: Find the compound amount for the deposit. Round to the nearest cent. $15,000 at 3% compounded…

A: From the given information, it is observed that,

Q: A share valued at $256.50 pays quarterly dividends in perpetuity at a rate of return of 3.50%…

A: Given: Dividend:$256.50 i=3.50%  i.e. 0.035 n=2 The effective rate of interest is obtained by the…

Q: A local university received a $500,000.00 gift to establish an endowment fund for a student…

A: Answer:- value of the fund 56 years from now = 500,000 *[(1+0.02/2)^(2*8) ]=586289.322462…

Q: earned

A: Formulas are given below.

Q: ​$9000 at 4​% compounded annually for 7 years

A: Given information Present value P=$9000 Rate of interest r=4% Time t=7 years Formula used:-…

Q: Find the compound amount for the deposit and the amount of interest earned. $6800 at 5.4% compounded…

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Q: Find the principal to get $1000 after 2 years at 6% compounded quarterly?  Round to nearest cent.

A: It is given that, the amount after 2 years is A = $1000, n = 4 since compounded quarterly, r = 0.06.…