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- If you deposit 500 pesos at the end of each year for 3 years into an annuity that pays 5% annual simple interest, what is the value at the end of 3 years? (Round off to whole numbers. Digits only. No commas.)You borrowed an amount of $15,000 and paid it $20,223 in 3 years. If the interest rate was compounded monthly, what is the nominal interest rate?Example: Imagine you deposit 2000 TL at a monthly compounding rate of 6% for the first 2 years, and at a monthly compounding rate of 9% for the next 3 years. What will be the amount of money at the end of the 5th year?
- John Smith deposits 1,200 Pesos at the end of each year that pays 6% interest. How much will Mr. Smith accumulate in the end of 5 years? * 6,765 Pesos 6,557 Pesos 6,904 Pesos 6,337 PesosHow much do you have to deposit now with a second deposit in the amount of $700 at the end of the first year so that you will be able to withdraw $350 at the end of the second year through the fourth year, and $600 at the end of the fifth and sixth year, if the bank pays you 3% annual interest on your balance ? Draw cash flow diagram tooHow much do eight ₱ 69,058 quarterly payments amount at present, if the interest rate is 3 compounded quarterly?
- A certain bank advertises that they pay 8% compounded quarterly. What is the effective interest rate? If you plan to deposit P5,000 now and plan to withdraw it after 3 years, how much would your acCount be worth at that time? 3.If you deposit 500 pesos at the end of each year for 3 years into an annuity that pays 5% annual simple interest, what is the value at the end of 3 years?Problem 4- If effective interest rate is 15% per year. Find the equivalent nominal interest rate if: 1. Compounding is monthly 2. Compounding is daily 3. Compounding is continuously Note: Use 4 decimal points like 12.3456%
- If I plan to avail of a loan today and I will start to pay it P9,348 at the start of every month up to 6 years charged by an interest rate of 11.9% compounded semi-annually. How much money will I take home today if I will avail of the loan, in pesos answer in two decimal places?You deposit $10,000 in a fund that pays compound annual interest equal to 3%. One year later the interest rate changes to 4%, 2 years later the interest rate changes to 5%, and 3 years later the interest rate changes to 6%. How much will you have in the fund after 4 years if you withdrew $2,500 at the end of each of the previous 3 years?At age 20, a person deposits $355 in a saving account paying 1% interest compounded semiannually. How much money will be in the account 70 years later,when he is 90 years old?. Would his savings tripled in that time?.