You plan to invest an amount of money in a certificate of deposit (CD) at your bank. The stated interest rate applied to the CD is 12%, compounded monthly. How much must you invest if you want the balance in the CD account to be P8,500 in 2½ years?

Q: If you deposit OMR 12200 in your account in a bank. If your bank pays 8.15% interest, how much will…

A: The value of a current asset at a future date based on an expected rate of growth is known as future…

Q: An investor wants to get back his 10000$ savings as 18106$ in the future by depositing it in the…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: You need to turn $11,827 dollars into $18,864 dollars in 7 years.  Assuming you make no extra…

A: Future Value = Present Value * (1+r)^nWhere,r = rate of interest per periodn = no. of compounding…

Q: You plan to make a total of 7 deposits of $11,000 each year with the first payment being made one…

A: Future Value of Annuity = Future Value = P x (1+i)n

Q: If you deposited P1,000 a couple of years ago in a bank that pays the interest bimonthly. After…

A: The effective rate implies for percentage figure which shows proportion of increase that will occur…

Q: how much will you have when it matures?

A: A certificate of deposit (CD) is a financial product that banks and credit unions offer to customers…

Q: If you deposit OMR 28416 in your account in a bank. Suppose the bank pays 8% compound interest half…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: If you deposit OMR 27177 in your account in a bank. Suppose the bank pays 12% compound interest…

A:

Q: You deposit $4,000 today in a bank that promises to pay an annual interest of 8%? a. What is future…

A: (1) (a.) FV =PV*(1+r)^n =4000*(1+8%)^12 =10072.68 (b.) If rate =8% with monthly compounding FV…

Q: a) You have a bank account that earns 6.8% interest rate. How much must you deposit (prinicipal) in…

A: The Future Value is calculated with the help of following formula  Future Value = Principal Amount ×…

Q: 5. You deposit PHPI,500 in your bank account. If the bank pays 4% simple interest, how much interest…

A: Simple Interest = P * R *T Where P = Principal = PHP1,500R = Rate of Interest = 4%T = Time = 10…

Q: You Save Bank has a unique account. If you deposit $7,250 today, the bank will pay you an annual…

A: In this case, the bank uses different interest rates for different periods, so we'll need to apply…

Q: 3. You have a bank deposit now worth $5000. How long will it take for your deposit to be worth more…

A: Time period for a present value to accumulate to future value is calculated by NPER function in…

Q: If you deposit OMR 7387 in your account in a bank. Suppose the bank pays 8% compound interest half…

A: Time value of money says that a dollar today is worth more than a diollar in future. Future value is…

Q: If the bank states an effective interest rate of 13.5% per year, and there are 52.15 weeks, how much…

A: Formula for calculating weekly interest rate is:

Q: Ebony wants to invest $1000 in savings certificates that bear an interest rate of 7.5% compounded…

A: We can determine the time taken for the amount to be a certain value by rearranging the formula…

Q: Compute the annual interest, total interest, and amount to be received or paid at the end of the…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: d. Using information from (la) only, what quarterly compounded interest rate should the bank quote…

A: The effective annual interest rate (EAR) is defined as the annual growth rate that takes compounding…

Q: You have a bank account that pays an annual interest rate of 6.9%. If you deposit $5,000 today and…

A: In the realm of financial foresight, the question at hand revolves around the future value of…

Q: If bank offers you to double your money in 12 years, what is the interest rate that it gives?

A: Given, Number of years 12.

Q: PLEASE HELP ASAPThe client has made a deposit in the bank in the amount of 10,000$. The duration of…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: You invest $2,300 in a 4-year certificate of deposit (CD) that pays 3.2% interest, compounded…

A: In this question we need to compute the future value at the end of year 4.

Q: Your goal is to accumulate $60,000 in seven years' time.  What monthly deposit must you make into a…

A: Interest rate per month = 12%/12 = 1% per month Time period = 7 years * 12 = 84

Q: You have a bank deposit now worth $5000. How long will it take for your deposit to be worth more…

A: Interest is an additional amount which is earned on deposited amount for the period. It increases…

Q: How much would your investment be worth if you deposited $5,555.55 into a bank that paid compound…

A: Now, Principal amount invested $ 5555.55 for 10 years at 4%  compund interest.Therefore, the formula…

Q: Your bank offers a 10-year certificate of deposit (CD) that pays 6.5% interest, compounded annually.…

A: Time = t = 10Interest Rate = r = 6.5%Present Value = pv = $2000

Q: Which bank would you prefer to borrow from?

A: Information Provided: Bank Z interest rate = 5% compounded monthly Bank Y interest rate = 4.75%…

Q: A bank quotes you a nominal interest rate of 12%, compounded monthly, on a savings account. What is…

A: Monthly nominal interest rate (r) = 0.01 (i.e. 0.12 / 12)Number of compounding in a year (n) = 12…

Q: Problem 4: What end-of-month deposits for the first six m hould Joshua have if he is planning to…

A: The future value of amount includes the amount being deposited and amount of interest being…

Q: Suppose I secure a simple interest note for $4500.  The length of the note is 102 months and the…

A: Interest = Principal * rate * time  Interest = $4500 * 6.20% * 102 /12 Interest = $2,371.50

Q: What ne future value

A: This is a question relating to time value of money. Present value and future balue calculations are…

Q: If you deposit OMR 24184 in your account in a bank. Suppose the bank pays 8% compound interest half…

A: To open the "FV function" window - MS-Excel --> Formulas --> Financials --> FV.

Q: You have been given eight months to pay off your gambling debt. You need $2,200 in eight months. How…

A: Interest is an additional amount which is paid or received on borrowed or lending amount for the…

Q: You deposit $ 70,565 in your account today. You make another deposit at t = 1 of $ 51,167 . How much…

A: Time value of money is one of important concept being used in finance. As per this concept, a dollar…

Q: Your credit card has a balance of $4500 and an interest rate of 22%. The credit card requires a…

A: Credit cards refer to debt instruments that are provided by financial institutions to individuals…

Q: May I ask for an explanation and solution to the question for a better understanding. Thank you!…

A: The money that should be invested by the investor is the present value of the required amount in CD…

Q: A local bank is advertising that you can double your money in eleven years if you invest with them.…

A: In Simple rate of interest there is no effect of compounded Amount= principal * (1+rate*time)

Q: first payment being made today. If bank pays compounding, how much will be in your account after 10…

A: (Note:  “Since you have posted multiple questions, we will provide the solution only to the first…

Q: How much money should you deposit in your account now if you are looking to have $7000 after 5…

A: Present value = Future value / (+rate )^ no. of period

Q: 1. Pedro, who deposited P500,000.00 today with a financial Institution M, agreed with the latter…

A: The future value of an asset refers to the value that the asset acquires after a predetermined time…

Q: LEASE HELP ASAP The client has made a deposit in the bank in the amount of 10,000$. The duration of…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: How much would your investment be worth if you deposited $5,555.55 into a bank that paid simple…

A: Total Interestn need to be computed for 10 years period by computing the annual interest on amount…