Hello! I have a financial problem that I am having issues finding the compounding formula for.  The question: Given the same annual interest rate, would you rather have a savings account that paid interest compounded on a monthly basis, or one that compounded interest on an annual basis? Perform the calculation to support your answer. -the amount for interest rates and any other amount are just made-up numbers that can be used as an example

Hello, could you help me with this question? I am having a hard time accomplishing this calculation.   Zachary Porter of Abilene, Texas, is contemplating borrowing $10,000 from his bank. The bank could use add-on rates of 6.5 percent for 3 years, 7 percent for 4 years, and 8 percent for 5 years. Calcualte the finance charge and monthly payment for these three options. If you could help me with this question, that would be great! Thanks. I look forward to hearing back from you.

As an incentive to attract savings deposits, most financial institutions today offer daily and even continuous compounding. This means that savings, or passbook, accounts, as well as certificates of deposit (CDs), earn interes compounded each day or even more frequently, such as every hour or even every minute. (Continuous compounding, in which compounding occurs every instant, involves a different formula that is derived from the formula we've been using.) Let's take a look at daily compounding. To calculate the compound amount, A, of an investment with daily compounding, use the compound interest formula modified as follows: • Rate per period (daily) i (nominal interest rate, i, divided by 365 365) • Number of periods (days), n, number of days of the investment. %3D n i A = P 1 + 365 Calculator Sequence: (1 + ( i ÷ 365 ) ) y* n x P = A. (Round your answers to the neare cent.) (a) On April 13, Thomas Ash deposited $2,400 in a passbook savings account at 3.5% interest compounded daily.…

Solve the following problems without using any software, do everything in digital format, explain the formulas, substitutions and result 3. A person has available the amount of $ 1,250,000 he wants to use to ensure a fixed monthly income for the next three years. For this purpose, deposit that amount in a revolving bank account every 30 days and a monthly interest rate of 0.8% (9.6% per year). Assuming the interest rate was held constant, what amount should you withdraw each month so that by the end of the three years the amount initially deposited would have been completely used up?

Future Value of an Annuity Find the future value of the following annuities. The first payment in these annuities is made at the end of Year 1, so they are ordinary annuities. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to find the unknown variable. Then, without clearing the TVM register, you can "override" the variable that changes by simply entering a new value for it and then pressing the key for the unknown variable to obtain the second answer. This procedure can be used in many situations, to see how changes in input variables affect the output variable. Also, note that you can leave values in the TVM register, switch to Begin Mode, press FV, and find the FV of the annuity due.) Do not round intermediate calculations. Round your answers to the nearest cent. $600 per year for 10 years at 14%. $   $300 per year for 5 years at 7%. $   $600 per year for 5 years at 0%. $   Now rework parts a, b, and c…

Please answer me in typing, avoid images and handwriting.   6.At 6.5   percent interest, how   long    does it  take    to  double your    money? To quadruple it?Solve this   problem using the   method we  discussed in  classonly

These are TVM questions   Answer the following questions and use the excel finance function to answer the questions. show the excel equation.   1.  Payday loans are very short-term loans that charge very high interest rates. You can borrow $500  today and repay $575 in two weeks. What is the compound annual rate implied by this 15 percent rate charged for only two weeks?      2. Payday loans are very short-term loans that charge very high interest rates. You can borrow $200 today and repay $225 in two weeks. What is the compound annual rate implied by this 12.5 percent rate charged for only two weeks?      3. What is the interest rate of a 4-year, annual $1,000 annuity with present value of $3,500?           4. Mr. Jones decides to purchase a car for $10,000.  The dealer offers to finance the car at 8% interest over a 4 year period.  What is the payment amount that Mr. Jones would be expected to pay?      5. You wish to buy a $20,000 car. The dealer offers you a 5-year loan with a 5…

PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASMr. Romuaro Godinez comes to the financial advisor Alquimidez Serrano, and asks him to calculate the interest to be earned on a deposit for the amount of 850,000.00; when the current interest rate is 8.75%, capitalizable quarterly, and it was invested for 15 years, 4 months and 17 days. The Finance Company reinvests at simple interest when there are not complete capitalization periods.

PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS3.- Andres Rosas wants to know how much he must deposit today, so that in 5 years he will have the amount (FV) of 88,180.00, which he needs to pay for a trip, a) if the account pays 6.125% interest compoundable semiannually; b) if the account pays 7.65% compoundable monthly. The formula must be cleared to find the initial value (PV). Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel. TO CONSIDER THE YEAR AS 360 DAYS (WHICH IS COMMERCIAL) (only if required)

I have both the final answer yet cannot figure it out what is the detail algorithmn of the equation. I need you to solve this question in a comprehensive way with step by syep solution by showing me how was the 0.0834 be calculated.  . Don't want excel calculator's answer. Thanks