When you were born, your grandfather established a trust fund for you in the Land Bank of the Philippines. The account has been earning an annual interest of 10%. If this account will be worth 100,000 on your 18th birthday, how much did your grandfather deposit on the day you were born?

Q: Your local credit union is offering a certificate of deposit at 5% annual interest. What will be the…

A: Your local credit union is offering a certificate of deposit at 5% annual interest. We need to find…

Q: Mark deposits $1000 each month in a retirement plan paying 7% compounded monthly. How much will he…

A:

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $724 per month…

A: We will find out the required value.

Q: As part of your retirement planning, you purchase an annuity that pays 5.25 % annual  interest…

A:

Q: You have $5,000 on a credit card that charges a 23% interest rate. If you want to pay off the credit…

A: It is simple interest formula.

Q: Find the amount of an annuity that consists of ten annual payments of $1000 each into an account…

A: Given: Annual payment = R = $1000 Interest rate = i = 6% = 0.06 Number of annual payment = n =10

Q: Consider a Bond Mutual fund that gains 3% interest compounded Monthly. If you deposited $66,000 how…

A:

Q: Find the ending balance: $45,000 for 18 months at 4% annual compound interest

A:

Q: Jamerra receive plans on paying the end of 2 yea $450 in interest interest rate on

A: GIVEN  principal P=$ 3000 time t=2 years interest I=$ 450

Q: The monthly invested payment is $. (Round up to the nearest cent.)

A: We have to find the monthly payment value of given sinking fund.

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $209 per month…

A:

Q: If you borrow $29,000 at 8.4% annual simple interest for 11 years, how much must you repay at the…

A: use formula written below

Q: Toni Torres wants to save $1,200 in the next two years to use as a down payment on a new car. If her…

A:

Q: A debt of P20, 000 is due on December 1, 2020. What was the value of this debt on December 1, 2018…

A:

Q: Your car loan payment extends for six years at 8% interest compounded monthly. After how many months…

A: To find the number of months required to pay off half of loan.

Q: Sam has a balance of $1985 on his credit card. If the interest rate is 14.5% compounded monthly and…

A:

Q: Find the amount of an annuity that consists of 24 monthly payments of $500 each into an account that…

A: Monthly payment= R= $500 Number of payments = n= 24   Interest = r=i/n= 8%/12 = 0.08/12

Q: Find the accumulated amount at the end of 8 months on a $1200 bank deposit paying simple interest at…

A:

Q: If the General Electric bonds you purchased had paid you a total of $8,840 at maturity, how much did…

A: Given that the following table lists several corporate bonds issued during a particular quarter:…

Q: You have $2,000 on a credit card that charges a 18% interest rate. If you want to pay off the credit…

A:

Q: USE SIMPLE INTEREST TO FIND THE ENDING BALANCE   $1, 300 AT 5 % FOR 6 years

A: Find ending balance

Q: What is the simple interest on P125, 000 at 8 3/4 % for 36 months?

A: Solution

Q: Milena deposited ​$9,000 in a certificate of deposit​ (CD) account that pays 3​% annual​ interest…

A: Given query is to find the amount accumulated in the account after 5 years.

Q: Find the amount due if $600 is borrowed for 9 months at 8% simple interest. Amount = $ %3D

A:

Q: find the lump sum deposited today that will yield the same amount as monthly paymenst of  $100 with…

A:

Q: Find the simple interest rate of the principal of Php. 15,000 with simple interest of Php. 30,000…

A: Given Principal (P)= Php15000 Simple interest (SI)= Php30000 Time (T) = 5 years

Q: Calculate the amount of simple interest earned. $1,000 at 8% for 4 years

A: Given: Principal amount = P = $1000 Rate = R = 8% Time = T = 4 years.

Q: Mr. Sun borrowed $15,600 for 54 months at simple interest to pay for a new swimming pool. If Mr. Sun…

A: Given, P=$15600 T=54/12=4.5yrs Rate=R

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $431 per month…

A:

Q: You have $2,000 on a credit card that charges a 23% interest rate. If you want to pay off the credit…

A: Given: Credit card amount due (PV) = $2000 Annual interest rate (r) = 23% Number of months (t) = 5…

Q: You put a $4,500 dining set on layaway and put down a 10% deposit. What is the balance?

A: Answer

Q: 7

A:

Q: Mr. Cruz obtained a 16-year mortgagee for 3,592,974. If this monthly payment is 17,520 how much is…

A:

Q: If you made $3,000 a year in contributions to your retirement account starting at the age of 25,…

A: NOTE: Refresh your page if you can't see any equations.   . here we have PMT=3000 n=1 for yearly…

Q: What is the simple interest paid on $1600 at 3 % for 4 years? Round your answer to the nearest cent.

A:

Q: How much interest is owed on a 9-month, $5550 loan borrowed at 7.25% simple interest?

A: Given the Principal amount P= $5550 Rate of interest =7.25% =0.0725  Time, t=9 months = 912=0.75…

Q: Your company provides a 50% matching toward your retirement. If you deposit $200 each month into a…

A:

Q: Mr.  Allen purchased an annuity that pays 19% compouned annually. If the yearly payment is $3,500,…

A: With the help of compound interest formula we can solve this problem easily- The formula for…

Q: What is the present value of an annuity that consists of 25 annual payments of $1200 at an interest…

A:

Q: Find the amount due if $400 is borrowed for 14 months at 17% simple interest. Amount = $

A:

Q: As part of her retirement planning, Mrs. Campbell purchases an annuity that  pays 5% compounded…

A:

Q: A Php 500,00.00 trust-fund was set up and to be used by an 8-year old niece when she goes to…

A: It is given that, Principle value , P=50000 Time =10 years Interest Rate, r=9.75%=0.0975 Since,…

Q: As part of his retirement planning, Mr. White purchases an annuity that pays 8.5% compounded…

A:

Q: Mr. Ahmad's parents deposit KWD 2,500 at the end of each year into his account for the next 15…

A: In the it is given that Ahmad's parents deposit 2,500 at the end of each year into his account for…

Q: Calculate the simple interest due on  a 52 day loan of $1500 if the interest rate is 9% round to the…

A:

Q: If $5000 is loaned for 5 months at a 5% annual rate, how much interest is earned?

A: Given: principal amountp=$5000, rate of interestr=5% per year and timet=5 months we know that simple…

Q: On May 28, 2020, Amy purchased a Government of Canada T-bill that matures on August 4, 2020. How…

A: Future value is $10,000 Rate of interest 1.35%

Q: You have $2,000 on a credit card that charges a 22% interest rate. If you want to pay off the credit…

A: Given:

Q: You are currently making $70,000 a year after taxes and are interested in maintaining your current…

A:

Q: As part of his retirement planning, Mr. Jones purchases an annuity that pays 6.5% compounded…

A: Compound interest Formula is A = P(1+r/100)(n) where,  A = the future value of the investment P =…