red decides to invest $1000 into an account which earns a floating interest rate. For the first three years, Fred earns 4% annually. For the next five years, Fred earns 3% compounded quarterly. For the last two years, the account earns 2% simple interest. How much interest was earned at th

Q: Dylan deposits $10,000 now and makes an additional deposit of $5,000 at the end of Year 3 in the…

A: Interest charged on the principal amount and the interest accrued is known as Compound Interest. It…

Q: Luke deposited $3500 into a savings account that earns 5.50% annually but is compounded 4 times per…

A: Future value of money is the amount of deposit done and amount of compounded interest accumulated…

Q: Jasmine deposited $900 at the end of every month into an RRSP for 7 years. The interest rate earned…

A: Monthly deposit: $900Number of years: 7Interest rate with semi-annual compounding for 5 years:…

Q: Laura deposited $1,100 at the end of every month into an RRSP for 6 years. The interest rate earned…

A: Future Value of Annuity formula will be used to calculate the value of monthly instalments at the…

Q: has a loan with an effective annual interest rate of 4%. He makes payments at the end of each year…

A: Loans are paid by payments that carry the payment for interest and payment for loan and value of…

Q: Joe invests $9500 in an account earning interest compounded quarterly. Determine the rate if there…

A: Individuals invest money in the bank to earn interest. This interest is decided by the government.…

Q: Karina invests X at the end of each year into an account which earns an annual effective interest…

A:

Q: Candace borrows $4000 from Nick due in 10 years with simple interest at 8% monthly. Two years after…

A: The proceeds would be the difference between Present value at new terms and old terms. and we  will…

Q: Four years ago, XZY deposited $2,920 in an account that has earned and will earn 8.70 percent per…

A: Under the compounded interest rate, the base amount on which the interest is earned increases every…

Q: What was the size of the periodic payments?

A: First, we need to determine the equivalent interest rate as the loan is compounded monthly, but the…

Q: Stephen deposited $1,200 at the end of every month into an RRSP for 8 years. The interest rate…

A: Amount deposited at the end of every month is $1200 Time period is 8 years Interest rate for first…

Q: Fred owes $10,000 due in three years and $5,000 due in ten years. Fred is allowed to pay off both…

A: Simple interest does not involve compounding and no interest on interest is considered.

Q: o-Fast invests $20,000 in a certificate of deposit that mature safter 7 years and pays 9 percent…

A: The future value is the future worth of the amount that will be paid or received in the future.

Q: Diane invested $4500 in an account that pays an annual interest rate of 3.7%, compounded monthly.…

A: Amount in the account after one year= $ 4669.35 Effective rate of interest = 3.76%

Q: open an annuity with $5,200.00 and makes monthly payments of $270.00 paid at the end of each month…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: Lauren deposited $1,200 at the end of every month into an RRSP for 7 years. The interest rate earned…

A: Deposit = 1200 per month END OF PERIOD DEPOSITS Time Period = 7 Years  × 12 = 84 Months   Semi…

Q: Sven accumulated $10,500 in credit card debt. If the interest rate is 3.45% per year and he does not…

A: Compound interest can be defined as the addition of interest to the principal balance. It can be…

Q: Marcus deposits $2600 into an account that has an annual interest rate of 5% compounded monthly. If…

A: Deposit is 42,600Annual Interest Rate (r) is 5%Compounding Period (m) is Monthly i.e 12Time Period…

Q: George invested $1,200 at the end of every month into an RRSP for 8 years. The interest rate earned…

A: Here,Monthly Deposits is $1,200Total Years of Investment is 8 yearsInterest Rate for first five…

Q: Darien invests $10,000 in an account that pays 3.2% interest per year, compounded semi-annually.…

A: The amount of money can be calculated as future value of the principal amount.

Q: Mr. Al Khasim deposited OMR 20,000 in a bank which offers a compound annual interest of 6%. How long…

A: Compound interest is one of the form of interest under which interest is charged on both principal…

Q: Daniel deposits $2,000 per year at the end of the year for the next 15 years into an IRA account…

A: Each Year Deposited Amount (PMT) = $2,000 Number of Period (n) = 15 years Interest rate per period…

Q: Caesar is paid monthly and deposits $300 each pay period into a savings account. Money invested in…

A: Variables in the question:PMT=Monthly deposit=$300Rate=4% (compounded monthly)N=7 yearsWorking…

Q: Jim invests $15,000 today into an account, If the amount in the account accumulates to $17,364.37 at…

A: The rate of interest can be computed with the help of future value function.

Q: How much did Bill pay Sam for the note?

A: The future value of an investment forecasts the expected value of an investment at a given future…

Q: Peter deposits $75 at the end of each quarter for 15 years into an account that pays 3.14%…

A: Given data; payment amount= $75 number of years = 15 annual rate = 3.14% compounding frequency = 4…

Q: Fred owes $12000 due in two years and $8,000 due in twelve years. Fred is allowed to pay off both…

A: We have to consider present value and future value of both.

Q: Frank invests $ 4500 dollars into an account earning interest compounded quarterly. After 10 years…

A: given, pv = $4500 fv = $5600 n =10 years m =4 (quarterly compounding)

Q: Mariano deposited P5,000 today in an account that pays 8% compounded semi-annually. Two  years…

A: Amount at the end of n periods at i% rate of interest can be calculated as: = Principal * (1+i)^n

Q: Sanvij has bought a house in Chilliwack for $20,000. He makes a 5% down payment and will be making…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: Kevin received a $1800 bonus. He decided to invest it in a 3-year certificate of deposit (CD) with…

A: In the given question we require to calculate the future value of investment after 3 years and…

Q: To attend school, Aisha deposits 5800 at the end of every quarter for five and one-half years. What…

A: An annuity refers to a series of payments made in exchange for a lump sum payment. It is used by the…

Q: Three years ago, ZYX deposited $2,590 in an account that has earned and will earn 8.60 percent per…

A: P = Initial deposit = $2,590 r = Annual interest rate = 8.60% = 0.086 n = Number of years = 6 The…

Q: Alexis deposited $1,000 at the end of every month into an RRSP for 7 years. The interest rate earned…

A: Future value of annuity (FVA) is a stream of recurring cashflow compounded at specified rate.…

Q: For 30 years, lilly contributed $180 every month to savings accountthat earns 1.6%…

A: Balance at the end of 45 years will be future value of monthly savings

Q: Frank invests $ 2500 dollars into an account earning interest compounded quarterly. After 13 years…

A: Future Value = Present Value * (1+r)^n Where, r =rate per period n = no. of compounding period i.e.…

Q: Sara deposits $13,900 into an account. For the first two years, money in the account earns 5.5%…

A: Deposit=$13900Interest rate 2 years=5.5%Interest rate next 2 years=5.8%

Q: invests $1600 into an account the beginning of each quarter for 9 years, starting from today.…

A: In this we have to find effective interest rate for the quarter and find future value factor and…

Q: Hui deposits $800 at the end of every 3 months in an RRSP that is earning 5.10% compounded…

A: The nominal interest rate when compounded more than once in a year then it needs to be adjusted by…

Q: rek deposited $700 at the end of every month into an RRSP for 7 years. The interest rate earned was…

A: Compound interest is a financial concept in which the interest generated on an initial sum of money,…

Q: Daniel deposits $20,000 into an account earning interest at 6% per year compounded monthly. He…

A: Information Provided: Initial deposit = $20,000 Interest = 6% compounded monthly Withdrawal = $1200…