Muaz will need $130,000 in 4 years to buy a piece of property. He plans to save money by making equal quarterly deposits into an account earning 6.1% per year compounded quarterly. What is muaz quarterly deposit.

Q: Chester hopes to earn $1200 in interest in 2.5years time from $60,000 that he has available to…

A: The annual interest rate that is charged by the lenders or at which the investors earn additional…

Q: ack buys a a car from a chant who offers P 748,000.00 at the end of 5 years. Jack wishes to pay…

A: As per the honor code of Bartleby we are bound to give the answer of first three sub part, please…

Q: Mark deposits $50,000 now into an account which will eam interest at a rate of 7% per year, how much…

A: Present value = $50,000 Interest rate = 7% Number of years = 4

Q: Lester hopes to earn $1100 in interest in 2.2 years time from $22,000 that he has available to…

A: We need to use future value formula to calculate annual interest rateFV = PV(1+r)nwhereFV = Future…

Q: Togo's monthly salary is $1080 and his monthly expenses are on average $750. Togo is looking at some…

A: Investments providing a compounding interest rate calculate interest on the principal as well as…

Q: Aidan deposits $1000 at the end of each quarter in an account that pays 5.25% per year, compounded…

A: Solution: An equal amount invested every period is called annuity. So, future value of annuity = PMT…

Q: John already has $50,429 in his savings account. He plans to make contributions of $1,658 at the end…

A: The banks generally offer compounding interest, The interest is earned on interest and the interest…

Q: Omar wants to buy a house in another 7 years. The type of house he wants to buy is currently selling…

A: Future value: Future value is $97,435.86

Q: Nick saves $175 per month, deposited directly into his credit union account on payday, the last day…

A: In order to calculate the amount at the end of a specific period of time, the future value of the…

Q: Adrian's investment manager offers her an interest rate of 7.0% compounded monthly on her…

A: Here,Interest Rate is 7%Required Accumulated Amount is $424,000Time Period is 25 years

Q: Lee wants to receive $18,000 each year for the next 20 years. Assume a 4% rate compounded annually.…

A: Annual receipt (C) = $18,000 Interest rate (r) = 0.04 Period (n) = 20 Years Amount need to invest…

Q: Benjamin borrows $50,000 from a lending institution for building a house. The lending institution…

A: The question is based on the concept of amortization of mortgage loans. A mortgage loan is paid back…

Q: o acquires a loan of $300,000 to be paid off during 6 years with monthly payments. If the…

A: Monthly payments are equal fixed amount of payment that carry the payment for interest and loan but…

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…

Q: Patrick makes payments of $250 per month at the end of each month. At the end of 10 years, he wants…

A: The rate of interest required to have the desired amount can be calculated with the help of rate…

Q: When Jasmine retires she has $950,000 in a retirement account that earns 6% annual interest,…

A: Using PMT function in excel

Q: Truman is saving up for a $7,000 trip to Fiji. If his bank account earns 5.8% compounded monthly and…

A: Final amount required = $7000 Interest rate = 5.8% per annum  Semiannual deposit (A) = $450 Let n =…

Q: If Jackson deposits $120 at the end of each month in a savings account earning interest at a rate of…

A: Time value of money :— According to this concept, value of of money in present day is greater than…

Q: Mr. Park plans to loan 500,000 from a bank to replace his old equipment. The bank approved him the…

A: Here, Loan Amount is 500,000 Interest Rate (r) is 15% Compounding Period (m) is Monthly i.e 12 Time…

Q: help!! Hector needs $13,000 in 7 years. (a) What amount should he deposit at the end of each quarter…

A: Amount needed " FV" is $13,000Time period is 7 yearsInterest rate is 7% Compounded QuarterlyTo…

Q: Charlie wants to withdraw $12,000 each year forever from his account. At an interest rate of 6% per…

A: Perpetuity is the stream of cash flows or payments that are made at equal intervals that do not have…

Q: Joe would like to have $80,000 saved in 10 years. If he invests his money in an ordinary annuity…

A: Future value of annuity = P * [ (1+r)^n  - 1 ] /r  FV = $80,000 n = no. of compounding period 10*12…

Q: Kiran has already saved $575,000 as a deposit for a new waterfront villa in the Hamptons. It will…

A: Monthly mortgage paymentA monthly mortgage payment is the regular amount of money you pay to a…

Q: Marcus is expected to settle a loan by paying $6,000. What amount should he pay if he decides to…

A: Present Value refers to the discounted value of a single cash flow or multiple cash flows today…

Q: Tika has $10 000 that he can deposit into a savings account for 5 years. ANZ pays compounds interest…

A: Time value of money- It is based on the concept that money earned today is worth more than similar…

Q: Harry Taylor plans to pay an ordinary annuity of $6,000 annually for ten years so he can take a…

A: Ordinary Annuity is series to equalized payments received or made over periodic interval at end of…

Q: Tak wants to save $10 000 for a vacation. He deposits $150 at the end of each month for 4.5 years in…

A: Solved using Financial Calculator  PMT = +/- 150 N = 4.5 years *12 months = 54 I/Y = 8.7/12 = 0.725…

Q: fank made payments of $161 per month at the end of each month for 30 years to purchase a piece of…

A: Yield to maturity can be calculated by following function in excel=RATE (nper, pmt, pv, [fv],…

Q: Dean Gooch is planning for his retirement, so he is setting up a payout annuity with his bank. He…

A: The annuity is a series of cash flow wherein an equal amount is paid every period.

Q: Abel wants to determine the amount of money he would obtain from the interest of PHP 2,000 at 16%…

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

Q: Ryan plans to deposit his annual bonus into a savings account that pays 3% interest compounded…

A: The compounding term refers to the interest on interest. The simple interest means the interest is…

Q: John already has $19,598 in his savings account. He plans to make contributions of $753.35 at the…

A: The banks generally offer compounding interest, The interest is earned on interest and the interest…

Q: Joshua borrows 35,000 pesos from a cooperative to buy a laptop. He will repay the loan in equal…

A: Borrowing refers to the act of taking money from another party with known intention to repay that…