How much do ten P 4,533 quarterly payments amount at present, if the interest rate is 2 compounded quarterly if payments are done every beginning of the month?
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A: Borrowed amount (P) = $ 570 Interest rate (r) = 5.5% Period (t) = 240 days = 240/365 Years
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A: The time value of money (TVM) is the concept that the money you have now is worth more than the…
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A: Monthly deposit (P) = $60 Period = 17 Years Number of monthly deposits (n) = 17*12= 204 Interest…
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A: The given problem can be solved using FV function in excel. FV function computes future value for…
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A: Future Value of Ordinary Annuity refers to the concept which determines the sum total of all the…
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A: P =A[(1 + i)n- 1 ]/(1 + i)ni Wherein i Means Rate of Interest A Means Annuity Payment N means…
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Q: 1. If the sum of P12,000.00 is deposited in an account earning interest rate of 9% compounded…
A: This pertains to compound interest. Compound interest accrues on both the initial principal as well…
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A: Loan Amount = $2000 APR (Annual Percentage Rate) = 6.5%
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A: given, Principal = $5000 r=2.8% per quarter number of quarter = 8
Q: Money borrowed today is to be paid in 8 equal payments at the end of each quarter. If the interest…
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A: NOMINAL INTEREST RATE The nominal rate refers to the rate before taking inflation into…
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A: Future Value = (P * R * T) + PWhere P = Present ValueR = Rate of InterestT = Time Period
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A: Loan = 11000 APR = 3% Monthly Compounding Interest Rate = APR / Number of compounding periods =…
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Q: What value of r will make the future value of the account P5, 200 in six months?
A: Future Value: It is the future worth of the present cashflows or the present sum of money. Future…
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Q: How much do ten ₱ 6,945 quarterly payments amount at present,
A: Time Value of Money (TVM) concept is used to discount the future cash flows or to compound the…
Q: What is the accumulated value of periodic deposits of $60 at the beginning of every month for 22…
A: Monthly deposit (P) = $60 Interest rate = 2.59% Monthly interest rate (r) = 2.59%/12 =…
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- If a credit card charges 1½% interest every month, what are the nominal and effective interest rates per year?What is the effective interest rate for quarterly transaction if the interest rate is 5% per year compounded monthly?How much do ten ₱ 6,945 quarterly payments amount at present, if the interest rate is 3 compounded quarterly if payments are done every beginning of the month?
- In a certain account providing an interest rate of r compounded quarterly, P2, 500 is deposited every end of the quarter. What value of r will make the future value of the account P5, 200 in six months?What will deposits of $470.00 made at the end of each month amount to after seven years if interest is 10.8% compounded monthly?How many months will it take to pay off a $525 loan, with monthly payments of $15 at the end of each month. if the interest rate is 18%, compounded quarterly? 45 O 48 None of the mentioned O 50
- What amount must be deposited today, if, starting one year from today, you wish to make 15 equal annual withdrawals of $3,450 from an account offering an annual stated rate of interest r = 0%?How long before a scheduled payment of $3,354 will a payment of $3,018 be economically equivalent?Assume money is worth 4.25% compounded quarterly. Round your answer to the nearest month.What is the effective annual interest rate for 10.5% compounded (a) Semiannually ? (b) quarterly ? (c) monthly ? (d) weekly ? (e) daily ? (f) Hourly ? (g) every minute ? (h) continuously ?
- How much should you deposit at the end of each quarter into an account that pays 4.4% annualinterest compounded quarterly in order to have $5000 in three years?Money borrowed today is to be paid in 7 equal payments at the end of each quarter. If the interest is 1% compounded quarterly, how much was initially borrowed if quarterly payment is P 23,758?You borrow P3500 for one year from a friend at an interest rate of 1.5% per month instead of taking a loan from a bank at a rate of 18% per year. What is the amount of money to be less by borrowing the money from the bank?