Given a nominal interest rate of 1.0% compounded quarterly, determine the starting principal required to produce an accumulated amount of $15000 after 10 years. Round your answer to the nearest dollar. Starting Principal = $
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- Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.) P = $43,000, r = 9 3/4 % t = 9, compounded quarterly A = $Find the principal P that corresponds to the future value F = $10,000 under r = 5.2% interest compounded quarterly for t = 18 months. Round your final answer to two decimal places. Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.) P = $120,000, r = 2.75%, t = 4, compounded daily
- Complete the table below giving the principal P that must be invested at interest rate 10.5 % compounded quarterly to obtain a balance of A = $ 120000 in t years.Calculate the present value (principal) and the compound interest (in $). Use Table 11-2. Round your answers to the nearest cent. CompoundAmount Term ofInvestment NominalRate (%) InterestCompounded PresentValue CompoundInterest $200,000 10 years 4 annuallyIn each situation described below, identify the initial payment, the term interest rate, andthe number of compounding periods. An investment of $5000 at an APR of 3% compounded monthly, followed by anotherinvestment of $5000 made 2 years after the first. What is the value of the account after5 years?
- Consider a loan of $2.5 million that is paid quarterly over a period of 10 years. Calculate the dollar amount of interest and loan principal repaid corresponding to each payment if the interest rate is 9% per year, compounded quarterly. What is the 5th Quarter Interest and also the 5th Quarter Principal Repayment respectively O a $157,274.15 and $232,276.07 O b. $97,158.12 and $95,032.24 O c. $46,919.62 and $32,752.85 O d. $52,601.74 and $42,841.70Use the formula for computing future value using compound interest to determine the value of an account at the end of 7 years if a principal amount of $16,000 is deposited in an account at an annual interest rate of 6% and the interest is compounded monthly The amount after 7 years will be S (Round to the nearest cent as needed.)Use the formula for computing future value using compound interest to determine the value of an account at the end of 9 years if a principal amount is $13,000 is deposited in an account at an annual interest rate of 3% and the interest is compounded quarterly.
- Use the formula for computing future value using compound interest to determine the value of an account at the end of 10 years if a principal amount of $19,000 is deposited in an account at an annual interest rate of 3% and the interest is compounded monthly.A principal, $30, is invested at 6% interest for 2 years. Determine the future value if the interest is compounded annuallyConsider a loan of $2 million that is paid quarterly over a period of 10 years. Calculate the dollar amount of interest and loan principal repaid corresponding to each payment if the interest rate is 10% per year, compounded quarterly. What is the 5th Quarter Interest and also the 5th Quarter Principal Repayment respectively
