İhsan wants to pay the 50,000 TL loan he received from the bank in annual installments of 2,500 TL at the end of each year, and if any balance payment remains, he will make the remaining balance after the last installment. If the annual interest rate is 5%, Mr. İhsan, how many payments and what will be the final balance payment.
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İhsan wants to pay the 50,000 TL loan he received from the bank in annual installments of 2,500 TL at the end of each year, and if any balance payment remains, he will make the remaining balance after the last installment. If the annual interest rate is 5%, Mr. İhsan, how many payments and what will be the final balance payment.
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- Jean-Rene wants to make a lump-sum deposit today such that at the end of every three months for the next five years he can receive a payment starting at $2,500 and increasing by 1% each time thereafter. At the end of the term, an additional lump-sum payment of $10,000 is required. If the annuity can earn 8.75% compounded semi-annually, what lump sum should he deposit today? Using financial Calculator.Dean Gooch is planning for his retirement, so he is setting up a payout annuity with his bank. He wishes to receive a payout of $1,500 per month for twenty-five years. (a) How much money must he deposit if his money earns 7.3% interest compounded monthly? (Round your answer to the nearest cent.) (b) Find the total amount that Dean will receive from his payout annuity.Moon purchases a lot for $300,000. Moon agrees to pay $25,000 dollars at the end of each year. If the interest rate is 4% compounded annually, how many full payments must be made, and what will be the size of the concluding payment one year after the last full payment? How to enter into TVM Solver??
- Jack would like to have RM 500,000 in his bank account in exactly 20 years to fund his retirement in Sabah. He opens an account today with a deposit of RM Y and each subsequent annual deposit will increase by 5%. Jack plans to make a total of 20 annual deposits. The annual effective interest rate is 6%. Determine Y.Jane took out a loan from the bank today for X. She plans to repay this loan by making payments of $520.00 per month for a certain amount of time. If the interest rate on the loan is 1.12 percent per month, she makes her first $520.00 payment later today, and she makes her final monthly payment of $520.00 in 7 months, then what is X, the amount of the loan? O An amount less than $3,501.00 or an anmount greater than $4,238.00 O An amount equal to or greater than $3,501.00 but less than $3,739.00 O An amount equal to or greater than $3,739.00 but less than $3,980.00 O An amount equal to or greater than $3,980.00 but less than $4,081.00 O An amount equal to or greater than $4,081.00 but less than $4,238.00Bridget Jones has a contract in which she will receive the following payments for the next five years: $3,000, $4,000, $5,000, $6,000, $7,000. She will then receive an annuity of $10,500 a year from the end of the sixth year through the end of the fifteenth year. The appropriate discount rate is 13 percent. a. What is the present value of all future payments? (Use Excel to arrive at the answer. Round the final answer to the nearest dollar amount.) Present value b. If she is offered a buyout of the contract for $32,000, should she do it? Yes No
- Danny is saving towards his vacation. He has determined that the total cost including airfare and accommodation will amount to $5,000. a. If he sets aside $400 per month from his salary, starting from the end of this month, in an account that pays interest of 9% per annum, will he have enough to make the trip at the end of the year? b. How much more will he have in the account if he made his first deposit of $400 today? What kind of annuity is this?John wants to borrow 75,800 from a bank payable in 3 years and 9 months. if the bank charges 9.5% interest in advance what size of loan would he apply for?Jimmy takes up a $50,000 loan from a bank and plans to repay the bank each month over the next 5 years, what is the yearly payment if the interest rate is 3% per annum?
- Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos quarterly for the next 25 years starting 1 month from now. The income fund pays 10.5% compounded monthly. How much Aylene deposit now to pay for the annuity? (Show solution)Manuel is preparing for an income fund for his retirement. He wants to receive P 15 500 at the beginning of each month for the next 25 years. The income fund pays 10.5% per year compounded monthly. How much must Manuel deposit now to pay for the annuity?Patrick makes payments of $250 per month at the end of each month. At the end of 10 years, he wants to have $50,000. What annual interest rate would he need in order to make that happen?