Jamilah and Alexis have $500 to invest. The bank offers an interest rate of 6% compounded annually.   a) How much money will they have after 1 year? b) How much money will they have after 5 years

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A: Monthly payment on the borrowing is calculated using following equation Monthly payment =…

Q: Q) Susan is 22 years old and today she opened a savings account that offers an interest rate of 12%…

A:

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A: Honor Code: Since you have posted a question with multiple sub-parts, we will solve the first three…

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A: IN finance the time value of money is considered so there is present value and future value concept…

Q: Gabby is planning to buy a home.  She has some money for a down payment already saved.  She sees a…

A: Step 1). Monthly payment on the borrowing is calculated using following equation Monthly payment =…

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A: Future value is the estimated value of current assets that is discounted at an assumed rate of…

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A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

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A: To calculate the future value of Ava Darling's deposits for the down payment, we can use the future…

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A: Data given: Amount deposited= $5000 Interest=4% p.a. t=7 years

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A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Q: Joe and Alicia want to put money in a savings account now so that they will have $2000 in 5 years.…

A: To calculate the investment amount we will use the below formula   Investment amount = F/(1+r/m)n*m…

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A: Future Value = $22,000 Time Period = 6 Years Interest Rate = 5.8%

Q: Jerry wants to take the next three years off work to travel around the world. He estimates his…

A: The present value is the value of the sum received at time 0. It is the current value of the sum…

Q: Arnold is planning to buy a house in 7 years. He plans to invest Rs. 425,000 in a fixed deposit with…

A: Investment period = 7 years Investment amount = 425,000 Interest rate = 12.05%

Q: Inez wants to borrow $2100 to start a small business.  She has found a bank that offers a 7% add on…

A: Calculation of Monthly Payment:The monthly payment is $47.25.Excel Spreadsheet:

Q: Elena wanted to invest in a trust fund. She borrows from a credit corporation that charges 8% simple…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: Bob and Pat want to purchase a vacation home in ten years and need $45,000 for a down payment. How…

A: Time value tells that money received today has more value than that of receiving exact value later…

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A: If the loan is a bullet loan that has to be paid at the end in a single payment then, the interest…

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Q: A newly wedded couple is planning to buy a two bedroom apartment in Windhoek for N$280000. He is…

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A: Using excel PV function

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A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

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A: Interest per year can be calculated as: = Principal * Rate * Time

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A: Cost of house = $ 250,000 Down payment = 15%

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Q: Mr. Yiu just wins a lottery of $6,261,362 today. He opens a bank account and puts the whole amount…

A: FV is the future worth of cash flows that have occurred in the past or present.

Q: You decide that you need $47,000 in 3 years to make a down payment on a house. You plan to make…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What semi-annual deposits does Adrian have to make?

A: Time value of money (TVM) refers to the method or concept which is used to determine the amount of…

Q: Ingrid wants to buy a $16,000 car in 8 years. How much money must she deposit at the end of each…

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Q: Your cousin is currently 12 years old. She will be going to college in 6 years. Your aunt and uncle…

A: The concept of time value of money will be used and applied here.As per the concept of time value of…

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A: The simple interest can be computed using the principal amount, the time period, and the interest…

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A: In order to find the monthly payment one can use excel and in excel use PMT function.

Q: Calculate the amount of money that must be saved at this time.

A: Formula for present value annuity is; PV = FV/(1+(r/n))nt Where as, PV = Present value FV = Future…

Q: Kyoko has $10,000 that she wants to invest. Her bank has several investment accounts to choose from,…

A: Compound = Daily = 365Present value = pv = $10,000Future Value = fv = $15,000Time = t = 6 * 365 =…

Q: Ben decides to take out a loan for $50,000 for 5 years at 7% monthly. If he pays an extra $200 per…

A: Using excel PMT function

Q: A man buy a house after 10 years. He expects to buy the house then with 2 million. Calculate the…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: Hannah wants to have $ 5500 to help pay for a new deck in 13 years. If she wants to put her money…

A: Future value = fv  = $5500 Time = t = 13 years Interest rate = r = 8%