How many monthly payments of P1,500 must be deposited in the bank to accumulate P160,000 if the interest is earned at 10.8% compounded monthly? How much would be the first payment if it is made 1 month after the last P1,500 deposit?
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Show Solution.
Topic: Ordinary Simple
4. How many monthly payments of P1,500 must be deposited in the bank to accumulate P160,000 if the interest is earned at 10.8% compounded monthly? How much would be the first payment if it is made 1 month after the last P1,500 deposit?
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- What’s the interest rate of a 7-year, annual $3,900 annuity with a present value of $20,000? (Use a time value of money calculator or a spreadsheet. Round your answer to 2 decimal places.) Annuity interest Rate = _____.__%ces You have a choice of four increasing annuities as shown in the table below. Which annuity will reach a future value of $100,000 the earliest? Annuity B Annuity C $1100 Annuity D $800 $57 8% 3% 52 1 Payment Annual Rate Interest Periods Per Year Annuity A $300 5% 12 (Use the interactive figure to find your answer.) Click here to launch the interactive figure. Choose the correct answer below. OA. Annuity D OB. Annuity A OC. Annuity B OD. Annuity C 9% 4 چلے i, 14e gin MLM IncorrecEQuestion Help Use graphical approximation techniques or an equation solver to approximate the desired interest rate. A person makes annual payments of $1000 into an ordinary annuity. At the end of 5 years, the amount in the annuity is $5898.27. What annual nominal compounding rate has this annuity eamed? Type the interest rate: % (Round to 2 decimal places.) Enter your answer in the answer box and then click Check Answer. All parts showing Clear All Check Answer MacBook Air esc 80 888 DII F4 %23 $ & 2 3 4 6 8 9 Q E R Y A D G H K V B N M
- Show Solution. Topic: Ordinary Simple Annuity 5. If P450,000 will purchase a 15-year annuity paying P8,750 per month, what rate of interest compounded monthly will the funds invested in the annuity earn?i need answer typing clear urjent no chatgpt if the future value of an ordinary eight year annuity is $5500 in interest rates are 8.0% what is the future value of the same annuity due? (round your answer to 2 decimal places)[2P2] Directions: Determine the kind of annuity used in the following situations. Then, solve the problem. Show complete (Handwritten or typed, not excel) solutions. What equal payments at the beginning of each 2 months for 4 years will discharge a debt of P180,000 due now if the interest rate is 18.48% compounded every 2 months? a. Kind of annuity: b. Computation:
- Show Solution. Topic: Simple Annuity Due 4. How long will have P250,000 for a down payment on a car if deposit of P12,500 at the beginning of each month in an investment account earning 9.6% compounded monthly?Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?Answer the following question correctly refer to the given problem below and show your Complete Solution (Given, Required, Equation, Solution, Answer). Mr. Quiton loans an amount of Php 30,000.00 which is to be paid monthly for 5 years that will start at the end of 4 years , if converted monthly at 12%, how much is the monthly payment ? 1. What is the type of annuity illustrated in the given problem? A. Simple Annuity B. General Annuity C. Deferred Annuity D. Complex Annuity 2. Compute for the interest rate per period. A. 0.01 B. 0.05 C. 0.10 D. 0.12 3. Determine the present value of the loan. A. Php 12,000.00 B. Php 30,000.00 C. Php 60,000.00 D. Php 75,000.00
- Find the periodic withdrawals PMT for the given annuity account. HINT [See Quick Example 4.1 (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $500,000 at 5%, paid out quarterly for 20 years PMT = $ Need Help? Read ItProblem 1: Read each problem carefully and answer each question to solve the problem. Find the period of deferral in each of the following deferral annuity problems (one way to find the period of deferral is to count the numnber of artificial payment (k). Make a diagram 2. Payment of P 1,000.00 every other month for 2 years that will start after 3 years. Time Diagram Answer[2P2] Directions: Determine the kind of annuity used in the following situations. Then, solve the problem. Show complete solutions. What equal payments at the beginning of each 2 months for 4 years will discharge a debt of P180,000 due now if the interest rate is 18.48% compounded every 2 months? a. Kind of annuity: b. Computation: