What is the amount of interest earned on $2,000 for five years at 10% simple interest per year?

Q: Find the nominal interest compounded quarterly equivalent to 12.00% effective interest?

A: Effective annual interest rate is rate that is regarded as the real return on a loan or savings for…

Q: Jack borrowed $10,000 from Mr. Jill on July 11, 2018 and promised to pay it by December 21, 2018.…

A: Given the borrowed amount = $10000 Interest rate = 15% Total number of days between the given months…

Q: How much money would you have to deposit monthly for five consecutive years starting at the end of…

A: Future value will be computed as the total sum of value of series of payments (i.e. PMTs) in future…

Q: Assume you borrow $30,000 today at a rate of 13%. The loan will be returned over a five-year period,…

A: To calculate the annual payment for a loan using a spreadsheet, use the PMT function in Microsoft…

Q: Find an expression for the present value of an annuity on which payments are 1 at the end of each…

A: Our goal is to derive an expression for the present value of this annuity, taking into account the…

Q: What deposit today is required for it to be worth $150,000 in 25 years if the deposit earns 5%…

A: Interest is the cost of borrowing. Compound interest is calculated on the principal amount as well…

Q: Compared the interest earned by $13,000 for seven years at 8% simple interest with interest earned…

A: Given:  Principal amount ( P) = $13,000 Interest rate(r) = 8% Time(t) = 7 years

Q: How long (in years) will it take to quadruple a money if it earns %4.7 compounded semiannually?

A: Compounding interest refers to the interest that accumulate on both the principal and interest rate.…

Q: If you buy a computer directly from the manufacturer for $2,923 and agree to repay it in 36 equal…

A: here we calculate the given by following method as follow;

Q: What are the present worth and the accumulated amount of a 10-year annuity paying $10,000 at the end…

A: here we calculate the present worth by using the given information which are as follow-

Q: What is the effective interest rate per month if the interest rate is 9% compounded continuously?

A: The effective interest rate refers to the rate of interest that paid on an investment after to take…

Q: When the price rises from $5 to $5.75, then the quantity demanded falls from 1000 to 800. What is…

A: It can be defined as a particular amount of demand for any product in the market that is desired by…

Q: While planning for his retirement, Alishan purchased an annuity that paid him $3200 every year for…

A: Annuity" refers to an insurance contract issued and distributed by financial institutions with the…

Q: Compute the present value of $1500 received at the end of ten years’ time given monthly compounding,…

A: Given information is: Future value (FV)= $1500 Interest rate (r)=1% Compounding period (n)=12 Time…

Q: You deposit $5000 each year into an account earning 8% interest compounded annually. How much will…

A: Uniform annual deposit (A) = $5000The interest rate on the deposits is 8% compounded annually. So i=…

Q: What is the amount of the quarterly deposits A such that you will be able to withdraw the amounts…

A: Nominal rate of interest (r) =8% compounded quarterly.Withdrawal at the end of the 4th quarter is…

Q: A student obtains a loan to pay one year of college tuition, which costs $18,000 with 6% which he…

A: Given, Cost- $18000 ROI- 6%

Q: If you deposit $10658.1 into an account paying 5% annual interest compounded semi-annually, how much…

A: Deposit Amount =10658.1 Interest rate = 5%   (Compounded Semi- Annually ) Effective Annual  Interest…

Q: Example: Imagine you deposit 2000 TL at a monthly compounding rate of 6% for the first 2 years, and…

A: The measure that depicts the value of an investment that is being made in present on a specific date…

Q: If P5,000 is invested for 10 years with an interest rate of 8%, compounded quarterly, what will the…

A:

Q: If you want to have $100,000 in your saving account in ten years, how much do you need to deposit…

A: The compounded monthly means interest is calculated and added to the principal monthly, while…

Q: What deposit made at the beginning of each month will accumulate to $120,000 at 5% compounded…

A: In the question above, it is given that : Amount  = $120,000 Rate of Interest = 5% = 0.05 Time = 10…

Q: How long will it take money to quadruple itself if invested at 13% compounded annually?

A: Money quadruples meaning current value becomes four time in n years.

Q: An accountant is entitled to received 35,000 pesos at the beginning of each year for 18 years. What…

A: The payments that are made at equal intervals of times can be considered as annuites. There are…

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: What is the nominal rate of interest compounded continuously for 10 years if the compound amount…

A: Nominal interest is the interest before adjusting inflation.

Q: If I loaned an amount of 27,292 with an interest rate of 10% for the three and half years compounded…

A: Present value = 27292 r = 10% Time = 3.5 years

Q: How long in years will it take for Priscelle’s investment to fivefold its amount if money is worth…

A: Compound interest implies the interest that is calculated not only on the initial principal amount…

Q: How long (in years) will it take to quadruple a money if it earns 2% compounded semiannually?

A: Compounding refers to a process in which the interest is accumulated on the principal amount as well…

Q: Miho invested $5000 in a bank that pays an annual interest rate of 9% compounded continuously. What…

A: Invested amount = $5000 Annual interest rate = 9% Total time period = 15 years

Q: How long in years will it take money to quadruple if it earns 7.5% compounded semi-annually?

A: Present Value (PV) = P  Future Value (FV) = 4 times PV (quadruple) = 4P Interest rate compounded…

Q: At 8% annual interest compounded monthly, how long will it take to become a millionaire if you…

A: The annual interest rate is 8%, compounded monthly The amount invested is $150,000 We have to find…

Q: Ms. Roberts decided to invest some money in an insurance company with an interest rate of 9%…

A: We use the rule of 72 here. Rule of 72: Years to double the principal = 72/Interest Rate

Q: Someone deposits $3,500 in their retirement account every year. If their account pays an average of…

A: Given data Some one deposits = $ 3500 Intrest rate = 6% FV of her deposit = PV of her 20…

Q: A series of equal quarterly payments of $5,000 for 10 years is equivalent to what present amount at…

A: Payment made quaterly = $5000 The time period for which the payment was made = 10 years Interest…