I need the correct process .i have underlined the correct answer In an account, Steve Watson currently has $100,000. At a rate of 7.00%, how long will it take for them to have $212,575.00 assuming semi-annually compounding? (a) 10.96 years (b) 7.08 years (c) 11.15 years (d) 8.25 years

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A: Using excel PV function

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A: Principal Amount = p = $1000 Future value = fv = $1700 Interest rate = r = 12%

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Q: Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20…

A:

Q: Starting three years from today, you make equal annual deposits of $5,000 into an account which…

A: Effective annual rate is calculated using the formula: EAR=1+rmm-1=1+12%22-1=1.062-1=12.36%

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A: Effective Annual Rate(EAR) shows net rate which an investment will yield after considering…

Q: Use up to 6 decimal places during solving for the answer. Write all numerical final answers round…

A: Data given: Amount=32,195 ROR= 0.13 (compounded semi-annually) N=3 years   Working Note #1 ROR…

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Q: 3. You would like to have $2,500,000 when you retire in 45 years. You open an account which has an…

A: The future value of an annuity is the value of recurring payments deposited in some instrument…

Q: you paid is P 78,758 at a rate of 5% per year. The first payment is done after 4 years. How much are…

A: Let us assume the monthly payment = A Accumulated amount = P 77,061 Interest rate = 4% per year

Q: Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20…

A: APR stands for Annual Percentage Rate. It is a measure of the borrowing cost, expressed as a yearly…

Q: H5. Seamus has made deposits of $76.00 into his savings account at the end of every month for 15…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: I now have $24,000 in the bank earning interest of .75% per month. I need $34,000 to make a down…

A: Down payment is a payment made for a purchase in its early stage.

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A: The objective of this question is to calculate the future value of an investment with quarterly…

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A: The present value represents the current value of the expected cash flow streCam discounted over the…

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A: In compound interest, the interest earned is reinvested because of which we earn even more interest…

Q: You are saving for a new house and you put $10,000 per year in an account paying 8%. The first…

A: Annual deposit (D) = $10,000 Interest rate (r) = 8% Number of deposits (n) = 3

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A: The concept is of calculation of present value when interest rate is compounded continuously. In the…

Q: Use the formule for continuous compounding to compute the balance in the account after 1, 5, and 20…

A: Given, P = $17,000 APR = 4.5% =4.5/100 = 0.045 For continuous compounding, The amount will be, A =…

Q: 1. The effective annual interest rate is 8.50000%, find the semi-annual present value factor. Be…

A: Therefore, the semi-annual present value factor is 0.920127.

Q: 1. If $100 is deposited today in an account paying 9 percent compound annual interest, how much will…

A: The first question is asking for the future value of a single sum. The formula for future value is…

Q: ASAP please. Use up to 6 decimal places during solving for the answer. Write all numerical final…

A: In the above question we are given: Present value of investment=32195 Rate=0.13 Number of years=3…

Q: Hassan invested $4000 into an account four years ago. Today his account has grown to have a balance…

A: Annual percentage rate (APR) is the rate of interest earned by an investor on the investment over a…

Q: Ten Thousand dollars is deposited into a savings account at 1.8% interest compounded monthly. How…

A: Using TVM Solver: (i) 10,000 +/- PV 1.8 i/y 10,665.74  FV CPT N = 3.61 It takes 3.61 months for…

Q: n how many years and days should a singl payment of $2000 be made in order to be =quivalent to…

A: Simple interest is the interest without compounding that means there is no interest on the interest.

Q: What is the size of the payments that must be deposited at the beginning of each 6-month period in…

A: The amount which is deposited at the beginning of every period for a specified duration is known as…

Q: Suppose that you plan to retire in 40 years. You put 1000 dollars in a bank account which sa per…

A: Effective rate of interest is the interest rate that is actually earned or paid. Effective rate of…

Q: . If you were to deposit $399.27 into an account today that pays 8% interest annually, with a…

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Q: If you borrow $3,600 to buy a car at 15% per year compounded monthly, to be repaid over the next…

A: Monthly Payment = P x r / [1 - {1 / (1 + r)^n}] Here, P = Present Value or Loan Amount i.e. $3600 r…

Q: Please step by step solution

A: First, you must understand that what is required for this question is to determine the future value…

Q: A man is paying 100,000 at the beginning of each month at a rate of 12% compounded monthly. If the…

A: Present Value of Annuity due refers to the value today of the series of the predetermined amount of…