In how many months will $1652 grow to $2276 at 5.8% p.a.? Round to one decimal. Answer:

Q: EXAMPLE 3. How long will it take for $600 to amount to $900 at an annual rate of 6% compounded…

A: Investment = 600 Future Value = 900 Quarterly Compounding Rate = 6%/4 = 1.5% per quarter

Q: Compute the present and future worth of payments of a. 5,000 at the beginning of each month for 12…

A: The present worth is the value of the future cash flows calculated today after discounting them at…

Q: At what per annum rate must $344 be compounded monthly for it to grow to $771 in 9 years? (Round to…

A: Compound = n = Monthly = 12Present Value = pv = $344Future Value = fv = $771Time = t = 9 *12 = 108

Q: What annual interest rate will cause $21,000 to grow to $46,000 in seventeen years (assume annual…

A: Initial investment (I) = $21,000Final value (F) = $46,000Period (n) = 17 YearsAnnual interest rate…

Q: How much will deposits of $40 made at the end of each month amount to after 9 years if interest is…

A: Annuity refers to the regulare stream of cash flows which has occured over a period of time. When…

Q: Questions 4-10. With a beginning balance of $1200 and no additional charges during the next three…

A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: How long will it take a $85,900 investment to grow to $123,760 if money earns 3.51% compounded…

A: The FV of an asset refers to its value at a particular future time assuming that it grows at a fixed…

Q: If $840.00 accumulates to $1177.12 in three years, nine months compounded quarterly, what is the…

A: The objective of the question is to find the effective annual rate of interest when the principal…

Q: $1,200 is deposited every six months in an account that earns 2% compounded semi-annually, how many…

A: Effective interest rate is interest rate after considering impact of compounding and more is…

Q: Money is invested at 11.94% p.a. compounded semi-annually for 43 months. What is the numerical value…

A: Part 2: Explanation:Step 1: Determine the effective interest rate per compounding period.Given that…

Q: What deposit made at the beginning of each month will accumulate to $120,000 at 30% compounded…

A: The deposit amount can be calculated with the help of future value of annuity due function

Q: what payments 2 months from now would be equivalent in val to a $5650 payment due in 13 month and…

A: Simple interest is simple interest that means there will be no interest on interest will be there…

Q: 20. How long will it take for $65 to amount to $6500 if invested at 11% compounded monthly? Express…

A: The objective of this question is to find out how long it will take for an investment of $65 to grow…

Q: What would be the future value of $7,992 invested annually for nine years beginning one year from…

A: future value formula: future value =A×1+rn-1r where, A=annuity r=rate of interest n=number of years

Q: i would like the steps on how this is solved i want to know how to solve step by step

A: Step 1: Understand the VariablesFV (Future Value): The amount of money we want in the future.PV…

Q: AlendingcompanyoffersaloanworthPhP24,000withasimpleannualinterestrateof10%foratermof 6 months and to…

A: APR is a company's rate of return based on the amount of interest it accrues by borrowing or…

Q: How long will it take an RRSP to grow to $820,000 if it takes in

A: Using Excel's self explanatory function=NPER(r/12,-monthly payment, 0,future value)

Q: At what nominal annual rate of interest will money double itself in six years, three months if…

A: Present Value:  The present value is the current value of cash flow that is expected to occur at…

Q: If a sum of $3000 is borrowed for six months at 9 percent simple interest per year, what is the…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: How much will deposits of $270 made at the end of each 6 months amount to after 5 years if interest…

A: Compound = Semiannually = 2Future Value = fv = $270Time = t = 5 * 2 = 10

Q: Find the present value of the future amount. Assume 365 days in a year. Round to the nearest cent.…

A: Present value=Future value /  [ 1 + (Interest rate x Number of years)]

Q: How much will deposits of $40 made at the end of each month amount to after 7 years if interest is…

A: According to the financial theory known as the time value of money, an asset's intrinsic value is…

Q: How long will it take money to triple if it is invested at 7% compounded quarterly? 8.7% compounded…

A: Data given: Rate=7% compounded quarterly Rate=8.7% compounded continuously   Required: Time required…

Q: How long will it take $2,000 to reach $5,600 when it grows at 10 percent per year? (Do not round…

A: Future Value refers to the compounded value of a single cash flow received today or multiple cash…

Q: What is the EAR of an account that has a 6% APR if it compounds quarterly?

A: To calculate the EAR we will use the below formula   EAR = (1+APR/M)M-1 Where APR - Annual…

Q: What nominal rate of interest compounded quarterly is needed to triple a principle in 9 years?…

A: NOMINAL INTEREST RATE The nominal rate refers to the rate before taking inflation into…

Q: How long will it take an investment to grow from $1,000 to $1,500 if it earns 7.2% compounded…

A: Given: Present value = $1,000 Future value = $1,500 Interest rate = 7.2%

Q: An amount of $6,880 is deposited into an account earning 3% interest compounded quarterly. How much…

A: Future Value: The future value is the amount that will be received at the end of a certain period.…

Q: Imagine a loan of $420,000. The loan is to be repaid in six years (i.e., last payment at the end of…

A: Present Value of Loan (PV) = $420,000Number of compounding periods (n) = 12 × 6 months = 72…

Q: K What is the nominal annual rate of interest compounded monthly at which $1070.00 will accumulate…

A: Future value is that amount which will be received by the investor at the end of investment period.…

Q: Suppose an investment of $5000 is made every month in an account which pays an interest rate of 6%…

A: The Future Value (FV) of an annuity is the value of a series of equal periodic payments made at…

Q: What cash payment is equivalent to making payments of $1471.00 at the end of every year for 8 years…

A: Solution:- When an equal amount is paid at end of each period, it is called as ordinary annuity.…

Q: The past five monthly returns for Kohls are 4.11 percent, 3.62 percent, −1.68 percent, 9.25 percent,…

A: Number of returns (n) = 5   Average return is know as arithmetic average return.

Q: At what per annum rate must $373 be compounded monthly for it to grow to $756 in 10 years? (Round to…

A: We can use future value(with compound interest) formula to find the annual rate.FV=PV*(1+r/n)^nt