Marissa converted an RRSP balance of $125,000 into an RRIF that will pay he $1,850 at the end of every month for 9 years. What is the nominal annual rate interest compounded semi-annually? 11.58% 0 0.97%

Q: Nick’s car loan requires payments of $472.77 at the end of every month for five years, including…

A:

Q: Abdullah deposits OMR 23550 at the end of every year for 4 years and the deposit earns a compound…

A: Individuals save for the future using various financial instruments that provide returns as per…

Q: The Houwerchucks repay a mortgage for $150 000.00 at 3.8% per year compounded semi- annually for 20…

A:

Q: Vicky bought a car priced at $8963 for 5% down and equal quarterly payments for 5 years. If interest…

A: A loan refers to a contract between a borrower and a lender where a sum is forwarded on the promise…

Q: Mr. Ayala borrows P1,000. In 4 years, the money become P2,500 compounded bimonthly. Find the nominal…

A: Borrowed amount (P) = P 1000 Period = 4 Years Number of compounding per year (m) = 6 Number of…

Q: (10 marks) Robert contributes $700.00 at the beginning of every month into an RRSP paying interest…

A: The future value of the cash flow is the future worth of the cash flow at a required rate of return.…

Q: Nicole loans P900,000 from bank today which gives her 10% interest rate compounded annually. Based…

A: Loan amount (L) = P 900000 r = 10% n = 10 payments Let the annual payment = A

Q: A businessman bought a delivery van costing P 35,000 payable in ten semiannual payments, each…

A: Van cost (PV) = P35,000 Interest rate = 26% Semi annual interest rate (r) = 26%/2 = 13% Number of…

Q: Graham buys a piece of lot for P 200,000 down payment and 10 deferred semi- annual payment of P…

A: Down payment = P 200,000 Semi annual payment = P 8000 First payment period = 3 Years Number of…

Q: answers

A: Step 1: 1) The maturity value is calculated by calculating the interest and after that add the…

Q: If vou deposit $5060 al 6 5% compounded semiannually, what will the total amount after 16 years?

A: The present when compounded at a given interest rate for a given period of time gives the future…

Q: randon Rockwell owes P200,000.00 with interest at 5% payable semi-annually. What equal payments at…

A: Solution Given Amount due 200000 Interest rate 5% Compounding Semi annual…

Q: A person borrowed a certain amount at a simple interest of 3% annually and agreed with the creditor…

A: The question is based on the concept of Financial Management.

Q: O a. $1,054,602.46 b. $1,044,056.44 c. $970,234.27 d. $1,022,964.39 O e. $991,326.31

A: First, we need to calculate the bi-weekly payment amount. We know the mortgage amount, the interest…

Q: Donald received a loan of $22,000 at 3.25% compounded monthly. She had to make payments at the end…

A: Using excel PMT to calculate the size of the payment

Q: James borrows $280 000 and repays the loan in equal fortnightly repayments of $1250 over 20 years.…

A: The time value of money is a concept used to compute and analyze the present worth of the future…

Q: Jacob has just agreed to take a loan that will require him to make payments of $107 at the end of…

A: Loan amount refers to an amount that is paid every month for the repayment of a loan by the borrower…

Q: ita deposits $1,300 into an account that earns 2.9% annual interest compounded semiually. What will…

A: Compound interest is the concept of earning interest not only on the principal amount invested, but…

Q: How much in each of the quarterly installments if rate of interest 10% compounded bi-monthly?

A: A stream of equal cash flows paid or received periodically is termed as annuity. Annuity is either…

Q: Dustin obtained a business loan of $220,000 at 5.21% compounded semi-annually.a. What was the size…

A: Sure, let's tackle these questions step by step.a. To find the size of the semi-annual payments to…

Q: A man borrowed K6,000 a 7% and agrees to pay back by making equal payments at end of every month for…

A: Amortization schedule: A table that details the regular payments for an amortizing debt is called an…

Q: A couple who borrow $100,000 for 15 years at 7.2%, compounded monthly, must make monthly payments of…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: Question: Robert is repaying a debt with 19 annual end-of-the-year payments of $1,000 each. At the…

A: Step 1: Calculating a Loan Refinance AmountGiven a loan that is being repaid with regular, equal…

Q: Matt borrowed $23,000 at 5.5% compounded semi-annually. If the loan is to be repaid in equal…

A: Loan is contract between lender and borrower where lender provide funds to borrower that is repaid…

Q: 7. Darlene invests $500 for 6 years at 4% interest per year, compounded annually. Determine the…

A: The question is related to concept of compound Interest. When interest is calculated on total of…

Q: A man paid a 10% downpayment of P 200,000 for a house and lot and agreed to pay the balance on…

A: Monthly Installment: an installment loan in which payments are paid at predetermined intervals; the…

Q: A woman paid 20% down payment of P300,000 for a house and lot and agreed to pay the balance on…

A: given, price = p300,000 downpayment = 20% r=15% m=12 (monthly compounding) pmt = p 33,396.51

Q: Ms X borrows 5000 at 5% annual effective interest, with payments at end of each year. The lender…

A: The loan instalment includes both principal repayment and interest amount.

Q: has been bought by an individual. -annually, eight times a year for 1 payment. If the payment is to…

A: In this we have to calculate the interest rate for period and find out future value.

Q: Raquel will settle her debt my making quarterly payments of P5,800 for 3 years and 6 months but the…

A: Quarterly payment = P 5800 Period = 3.50 Years Number of quarterly payments = 3.5*4 = 14 Annual…

Q: 3. Rey borrowed P 40,000 at 12 % compounded semiannually. He agreed to pay the lender semiannually a…

A: When a lender gives the money he will charge interest as returns. Semiannual interest payment means…

Q: Cristina borrowed P50,000.00 from Social Security System in the form of calamity loan, with interest…

A: When a loan is taken by a person then the institution or the entity that gives the loan amortizes…

Q: Deferred Annuity and Annuity Due To pay for a farm, Berti has to make equal payments of P135,900.00…

A: Annuity due is the series of equal payments that are made at the beginning of each of the period.…

Q: Faith saves for retirement by depositing $550 each month into an account which earns an APR of 3.5%…

A: The amount invested in financial instruments at a specified APR could be compounded at any frequency…

Q: How much should a family deposit at the end of every 6 months in order to have $6000 at the end of 7…

A: The deposits are made at the end of each period. Therefore it is an ordinary annuity. The future…

Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.