How many years will be required for a sum of money to double, if the annual interest rate is 10%, compounded quarterly? (correct answer: 5.66)
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How many years will be required for a sum of money to double, if the annual interest rate is 10%, compounded quarterly? (correct answer: 5.66)
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- 3. On january 1, 2016, Diana opened an account with a P 50,000 deposit. On january 1, 2017, she withdraws P 25,000 and on january 1, 2019 she deposits P 75,000. If the account earns 7.5% interest, compounded yearly, and no further deposits or withdraws are made, what was the balance on january 1, 2021?#20,000.00 borrowed today for 2 years at 5% compound interest will result in how much total interest at the end of Year 2?Compute the future value of a $3500 deposit, after eight years, in an account that pays a simple interest rate of 5%. How much interest will be paid to this account?
- $20,000.00 borrowed today for 2 years at 5% Compound Interest will result in how much total interest (I) at the end of Year 2? a) $2000.00 b) $2050.00 c) $20,000.00 d) $22,000.0066. How many years will be required for a sum of money to double, if the annual interest rate is lo%, compounded quarterly?I need to solve all questions and in handwriting Q3/ Find the effective interest rate per quarter at nominal interest rate og 8% compounded a)quarterly, b) monthly, c) weekly, and d) daily Q4/ Suppose you make $500 deposit monthly at interest rate of 10% compounded monthly. What is the amount (F) will be at the end of 10 years?
- Compute the future value of a $3500 deposit made today, after eight years, in an account that pays an interest rate of 5% that compounds annually. How much interest will be paid to this account?1.You deposit $50,000 into a fund that pays 5% per year compounded annually. You plan to make the following withdrawals. You withdraw $X one year from now, $2X three years from now, and $3X five years from now. If the last withdrawal depletes the fund, what is the value of X?4. For a deposit of $ 1023 at 7.8% interest compounded continuously over 4 years, find the interest earned? 5. Irish is offered to invest in a business firm that will make her money earn 6% compounded bimonthly. How long will it take for her money to triple?
- A certain fund pays 6% interest per quarter. What is the effective rate of interest? 26.25% 7.14% 25.16% 6.14%An amount of $ 500 was borrowed for the period from January 10 to October 28, 1996 at 16% interest. a) Calculate the exact simple interest. b) What is the total amount to be paid at the end of the period?Deposits of 35 000.00, 48 000.00, and 25 000.00 were made in a savings account eight years, five years, and two years respectively. Determine the accumulate amount in the account today if a withdrawal of 55 000.00 was made four years ago. The applied interest rate is 12% compounded continuously.