Your bank pays an interest rate quoted as 5.0% per annum compounded semi-annually. You invest $1,000 into the bank now for a 5 year period. What will your balance be after 5 years? (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.)

Q: If your uncle borrows $70,000 from the bank at 12 percent interest over the ten-year life of the…

A: Annual payment refers to the payment that is made each year including interest and principal for…

Q: Which do you​ prefer: a bank account that pays 5.0% per year​ (EAR) for three years or a. An account…

A: The following future value formula will be used:

Q: What will be the value of the investment in two years? Select one A. 5441 OMR b. None of these c.…

A: Information Provided: Pricipal = 5000 Term = 2 years Interest rate = 4.25% quarterly

Q: a man borrows money from a bank . he receives the money in 5 equal annual installment of X…

A: The time worth of cash (TVM) is the idea that cash you have now is worth more than the…

Q: You have approached your bank for a 30 year mortage loan in the sum of $2,160,000. The bank has…

A: Monthly payments refers to the periodic payment of repayment of a loan. Monthly payments includes…

Q: You have $480 to put into a savings account, and a bank offers you two options: Account A pays 3.1%…

A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Q: person borrows $2,850 on a bank credit card at a nominal rate of 18% per year, which is actually…

A: a.  Annual Percentage Yield      APY =[ (1+r)^n - 1]       APY = [(1+0.015)^12-1]       APY…

Q: A deposit of $250 earns the following interest rates:   10 percent in the first year. 8 percent in…

A: Interest earned is the amount earned on the invested amount over the period of investment. It can be…

Q: uppose your firm has an obligation to pay an annuity with 18 annual payments of $80,000. The first…

A: Annuity payment is a  series of payments lasting for some specific period. An annuity payment for a…

Q: If you deposit OMR 19500 in your account in a bank; suppose the bank pays 16.25% compound interest…

A: Future value is calculated by compounding the present value at a given compounding rate.

Q: Suppose that on Janu If y Calcule When What percentage The monthly payment is Do not round und the…

A: Monthly payment refers to an amount that is paid every month for the repayment of the loan amount…

Q: The First Common Bank has advertised one of its loan offerings as follows: “We will lend you…

A: Interest: It can be defined as the cost incurred by the borrower related to the amount borrowed.

Q: If you borrowed $1,175 for 11 months at a simple interest rate of 5.00% per annum, how much interest…

A: Interest = Principal * Rate * Time

Q: You've worked out a line of credit arrangement that allows you to borrow up to $70 million at any…

A: I have provided a detailed answer in the Explanation section.Explanation:Let's break down the…

Q: nk will lend you $4,000 for 45 days at a cost of $50 interest. What is your effective rate of…

A: Effective interest rate is the interest rate after considering the impact of compounding on interest…

Q: mad, a bank c 000 and agre -nthly for one

A: Introduction: The rate that is actually earned on an investment is called the effective annual rate.…

Q: a. What is the effective annual interest rate on this lending arrangement? Note: Do not round…

A: a)Monthly Interest = amount borrowed * Interest rate                          = 70,000,000 * 0.375%…

Q: Your bank pays 8.50 percent annual interest compounded semiannually on your savings account. You…

A: Future Value = Present Value * (1+rate)^ n Where, Present Value = $2,500 Rate = 8.5%/2 =4.25%…

Q: Your credit card has a balance of $4100 and an annual interest rate of 15%. You decide to pay off…

A: Balance amount=$4100 Interest rate=15% Time period=3 years 3 years monthly payment=$142.13 3 years…

Q: You borrowed $18,000 from a friend and promised to pay the loan in 12 equal annual installments…

A: To calculate the annual payment for an installment loan, you can use the formula for the present…

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: Mr. Bean wants to borrow $8,200 for three years. The Interest rate Is 5.5% compounded monthly. a.…

A: Annuity refers to the amount of payment which is made at equal intervals for certain period or till…

Q: You want to buy a car, and a local bank will lend you $15,000. The loan would be fully amortized…

A: The time value of money (TVM) is a concept in finance that refers to the idea that money available…

Q: Suppose that you owe $2,000 on a credit card that charges 18% APR and you pay either the minimum 10%…

A: The time to pay off the debt, the installment, beginning, and ending balances can be seen from the…

Q: An investor is planning to borrow $600,000 from an Australian bank and the loan term is 8 years. It…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: A local bank advertises the following deal: "Pay us $100 at the end of each year for 11 years and…

A: In perpetuity is type of annuity in which there are payments forever and for indefinite period of…

Q: If you take out a bank loan of $11500 now, what will the monthly payment be if you have to repay the…

A: Loan Amount = $11,500 Time Period = 5 Years Interest Rate = 9% compounded monthly

Q: Bank A offers you a loan at 5.76% compounded 2 times a year. Bank B offers to loan you the same…

A: Effective rate is the rate which takes into consideration the impact of compounding frequency. Here…

Q: You decide to originate the loan, but move at the end of 5 years. What is the remaining balance you…

A: Loan Amount  $                   3,00,000.00 Time Period 30 Years Interest Rate 7.20%

Q: You wish to make 4 equal annual deposits into a savings account such that at the time of your last…

A:

Q: Assume  you have secured a loan of $10,000 from a bank  which will be paid in one year. The bank has…

A: Month Instalment Interest Paid = Opening Balance  x 0.31% Principal Opening Balance Closing Balance…

Q: If you earn 5% per year on your bank account, how long will it take an account with $110 to double…

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

Q: sume that you have a balance of $4200 on your Discover credit card and that you make no more…

A: Credit cards are based on monthly payments and there is settlement on every month of card.

Q: Bank A offers you a loan at 8.52% compounded 5 times a year. Bank B offers to loan you the same…

A: Effective rate is the rate which takes into consideration the impact of compounding frequency. Here…

Q: ) If you make no payments and no additional purchases for one year, what will be the amount owed at…

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

Q: You receive a credit card application from Shady Banks Savings and Loan offering an introductory…

A: Basically there are two interest rates. We will first find the future value at the of 6th month…

Q: You wish to buy a $20,000 car. The dealer offers you a 6-year loan with a 7.2 percent APR. What are…

A: The borrower can pay interest at regular intervals or at the time of making payment. The payment…

Q: You receive a credit card application from Shady Banks Savings and Loan offering an introductory…

A: Interest amount refers to an amount that is paid by the borrower to the lender at every period along…

Q: If you deposit OMR 19500 in your account in a bank; suppose the bank pays 16.15% compound interest…

A: Present value is OMR 19500. This amount earns interest at 16.15% interest rate that compounds…

Q: Beginning three months from now, you want to be able to withdraw $2,700 each quarter from your bank…

A: Present value is a financial concept used to determine the current worth of a future sum of money,…

Q: The loan is due at the end of 2 years(balloon loan). It has a balance of $5,000 and an interest rate…

A: Present Value: When a predetermined rate of return is applied to a future amount of money or stream…

Q: Find the interest rates earned on each of the following. Round your answers to the nearest whole…

A: Interest is the amount paid above the loan amount and is profit for the lender as percentage of…

Q: A bank has agreed to lend you $127,800 for a home loan. The loan will be fully amortized over 57…

A: Amortization is a term used in business to describe the process of spreading payments out over time.…

Q: The bank is offering you 9 APR on a loan. Currently the conditions are that the 9 APR is compounded…

A: Annual Percentage Rate = 9% Monthly Compounding Number of compounding periods = 12

Q: You are to make monthly deposits of $425 into a retirement account that pays an APR of 10.6 percent…

A: Future value= Present value* ([1 + I]^N - 1 )/I Present value = $425 I = 10.6/12 = 0.883% N = 31 x…