Q: Find the present value (in dollars) of an annuity that pays $7,000 at the end of each 6-month period…
A:
Q: Interest earned with an annuity due is higher than that with an ordinary annuity. Do you agree or…
A: An annuity is a series of payments paid or received over a defined length of time. The timing of the…
Q: 22. You deposited $15,000 in a savings account five years ago. The account has earned 5.25% interest…
A: here we calculate the money is in the account today by using the formula which are as follow-
Q: 1. Twenty percent when compounded quarterly will have an effective rate of
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: How long will it take for $5,000 to double when invested at 8% compounded quarterly?
A: Formula for compound interest is A = P(1=r/n)^(tn) Where n is the compounding frequency P is the…
Q: How long in years will money double its amount if invested at 10% simple interest?
A: Given interest r= 10%
Q: Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes…
A:
Q: In simple interest, the interest for the current period is computed based on the amount (principal…
A: When some amount is deposited in the bank as a principal, the bank pays interest to the savers…
Q: Write the formula developed for calculating compound interest?
A: Compound interest refers to the interest calculated on the principle amount, thus increasing the…
Q: An investor needs 41,000 in 15 years. What amount should be deposited in a fund at the end of each…
A: Fund: It refers to the amount of that is deposited by people at various places that provides them…
Q: How much money do you need to deposit in a bank each month if you are planning to have $5000 in four…
A:
Q: When investing or saving money for retirement, which type of interest would benefit the most from?…
A: When investing or saving money for retirement which type of interest would benefit the most from?…
Q: A loan amounting to ₱ 1,000,000.00 is to be paid within 5 years. If the bank offers 12% nominal rate…
A: Equivalence Monthly Installments or EMI is defined as a method used to repay a loan with easy…
Q: Summarizes some of the interest formulas?
A: Simple interest = (P*R*T)/100 where, P : Principal amount R : Rate of interest per annum…
Q: How many years will it take an investment to triple if the interest rate is 8%compounded?
A: The rule of 115 can be used to calculate the number of years that take an investment to triple.
Q: How much should you pay for a $1,000 bond with 10% coupon, annual payments, and 5 years to maturity…
A: The interest rate is the amount a lender charges a borrower and is a percentage of the principal the…
Q: How much loan will be extinguished for a monthly amortization of ₱4,500 at 12% interest compounded…
A: Formula to be used: Compound interest (PN)=PO1+rKNKPN=Balance after n yearsN=YearsPO=Principal…
Q: Which of the following is the preferable interest rate for investing your money? (i) 12% Compounded…
A: Given: Interest rate (r)=12%
Q: 1. Accumulate P 3,000 for 9 years at 6 percent interest compounded quarterly. How much is the…
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…
Q: What is the accumulated amount of a 10-year annuity paying ₱ 1,744 at the end of each year, with…
A: Given information: Time, n = 10 years Annuity = 1744 Interest amount, r = 4%
Q: You are borrowing $500,000 to buy a house. The interest rate is 4% compounded monthly. What is…
A: The per month payment is calculated by the following formula: PV=PMTi1-11+in where, PV= Amount of…
Q: Find the interest on the loan if Tim borrows $10,000 for years at a simple interest of 10%.
A: The investors as well as consumers borrow or take loans funds from banks for investment or for…
Q: Does the compounding increases the amount of interest paid over a year atthe same nominal interest…
A: The interest rate is the income earned by the investment in the economy. When the money is invested…
Q: To have a total of $10,000 after 8 years, what principal do you have to deposit in a 4.5 percent…
A:
Q: If the interest rate is 7.0%, what is the present value of a perpetuity paying $210 per year? (A…
A: Present Value of perpetuity-Perpetuity is used in accounting and finance, represents a business or…
Q: How many years will it take an investment to triple if the interest rate is 8% compounded…
A: Compound interest refers to the adding of interest to the principle amount of a loan or deposit, or…
Q: How many quarters will it take to triple an initial investment at an interest rate of 14% compounded…
A: The interest rate is the amount a lender charges a borrower and is a percentage of the…
Q: How much money would you need to deposit today at 8% interest compounded quarterly to have $15,000…
A: In economics, interest refers to the amount paid in excess of the principal amount by the borrower…
Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 10% interest. How…
A: Given: Amount at retirement=$600,000Time=25 yearsRate of interest=0.10
Q: Mr. Mallari borrowed P200, 000. The terms of the loan are 10% interest for 10 years with uniform…
A: Borrowed = 200,000 interest rate = 10% time Period = 10 year
Q: Rashed wants to make his investment triple its value at the end of twelve (12) years’ time. What…
A: We need to assume some terms such as interest rate , principle amount and then nee dto calculate the…
Q: . Irish is offered to invest in a business firm that will make her money earn 6% compounded
A: Bio monthly has two meaning one is twice in one month or happening every two months . Here i…
Q: Lia wishes to have $3000 after 3 years in an account that draws 6% nominal interest compounded…
A: In this question we have to find out the principal value with the help of the above information.
Q: Jesse wanted to double his money at 3% annual interest compounded monthly. How long will it take to…
A:
Q: How much is accumulated in each of the savings plans over two years? a. Deposit €1300 today at 10…
A: Compounded annually formula: A = P (1 + r)t Where A is the future value P is the principal amount…
Q: accounts. How much will Mr. Jones have in his savings account in thirteen years if $50,000 is put in…
A:
Q: Future value) Leslie Mosallam, who recently sold her Porsche, placed $11,000 in a savings account…
A: here we calculate the future value at different year which are as follow-
Q: What is the accumulated value of a $25 payment to be made at the beginning of each of the next three…
A: PMT = 25 n = 3 r = 9%
Q: Find the present worth of a perpetuity of 1,000 annual payments with interest of 6%
A: According to the question, perpetuity is of 1000 at the interest rate 1% Present value is the…
Q: How much should you put into 6% saving account in order to have 100,000 in five years?
A: *Answer:
Q: Suppose you deposit $35,000 in an account today that pays 3.78% interest, compounded annually. How…
A: The compound interest adds the interest acquired on a time period to the principal amount and the…
Q: Discuss and illustrate the different types of annuity.
A: Annuity refers to the contract between an individual and the insurance company where the individual…
Q: How long would it take an investment to triple if the interest rate is 6% compounded annually?
A: Answer Given in the question - Interest rate = 6% = 0.06 Need to find - Time for investment to…
Q: A series of 10 annual payments of $7,500 is equivalent to three equal payments at the end of years…
A:
Q: A series of equal quarterly payments of $5,000 for 10 years is equivalent to what present amount at…
A: Given values in the questions: Payment made quaterly = $5000 The time period for which the payment…
Q: What interest compounded monthly is equivalent to an interest rate of 78.9% compounded. quarterly?
A: Compound interest, also known as Interest on Interest, is interest that is added to the interest…
Q: What interest compounded 10 times a year is equivalent to an interest rate of 5% compounded…
A: Compounding Interest rate = 5% quaterly
Q: How much should you put in a 10% savings account in order to have P20,000 in five years?
A: Given information: Future value (F)= P20,000 interest rate (r)= 10% time period (t)=5 years To…
Today you deposited $10,000 in a savings account paying 7% annual interest. How much should you have at the end of five years?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- If you put your $100 into a saving account which earns 5% interest, how long does it take for your money to double?Joe just completed his engineering degree and started to work for an engineering firm. Joe wants to retire early after 30 years working. He plans to invest $5,000 at the end of every year for a 30-year career. If Joe needs $3,954,750 in savings at retirement, what interest rate must the investment earn?Zeke bought a $2,250 shed on the installment plan. He made a $400 down payment, and he has to make monthly payments of $91 for the next two years. How much total interest will he pay?
- your realized income is $2,943.20/month. how much are your fixed expenses each month? how much could you save per month if you take off 25% of your discretionary monies and put it in a savings account?describe something you can do to increase your savings for retirement.If you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal annual payments. How much of the total amount repaid is interest? How much of the third annual payment is interest, and how much principal is there? If you decided to pay off your loan after the third payment, how much will you pay?
- 22. You deposited $15,000 in a savings account five years ago. The account has earned 5.25% interest compounded continuously since then. How much money is in the account today?Jocelyn wants to buy a 72 inch flat screen TV to enjoy her birthday video highlights. It sells for $2,000 cash . She will make a down payment of $1,000 and then six monthly payments of $200. What is the full installment price?On November 4, you get a boat loan. Your first payment is due December 4. You write out your check on December 1, drop it in a mailbox on December 2, it gets postmarked on December 3, and the lender receives it on December 6. For how many days is interest calculated?
- One person bought a DVD player for $399.00. You paid a down payment of $99.00 and agreed to pay the balance plus an amount of $10.00 at the end of three months as interest. What annual simple interest rate would you be paying?Write the formula developed for calculating compound interest?Summarizes some of the interest formulas?