Your bank pays 2.6% interest per year You put S1,400 in the bank today and $550 more in the bank in one year How much will you have in the bank in two years? In wo years, the amount that you will have is $ (Round to the nearest cent)
Q: What will be the amount due on February 10, 2022, if the present value on July 17, 2021 is ₱10,100…
A: Simple interest refers to a method of calculating the percentage of interest paid on an amount over…
Q: Mr. Smith is planning his retirement. He has decided that he needs to withdraw $12000 per year from…
A: Compound interest (or compounding interest) is interest calculated on a loan or deposit based on…
Q: Determine the periodic payments PMT on the given loan or mortgage. (Round your answer to the nearest…
A: Given, Principle amount (P) = $50,000 Annual percentage rate (APR) = 7% Monthly payment (n) = 12…
Q: Assume you deposit 25% of your monthly check of $5500 into a savings account at a credit union that…
A: Given information: • 25% of monthly check ($5500) is deposited in a saving account. • Compounded…
Q: Suppose that $12,000 is placed in a bank account at the end of each quarter the future worth at the…
A: Given that, Bank deposit = $12,000 Rate of interest (i) = 8.5% Quarterly interest rate = 8.5%/4 =…
Q: How much do you need to deposit today (P) to withdraw BD25,000 at n =1, BD3,000 at n = 2, and…
A:
Q: What is the present value of $500.00 to be paid in two years if the interest rate is 4%. $_____…
A: From the above information, we may put the values accordingly. Future value FV= 500 Rate of return…
Q: You have just won a lottery prize of $3.000,000 collectable in 10 yearly installments of $300,000…
A: * SOLUTION :-
Q: What amount of money be deposited now at 4% interest will provide berpetual payment of P 2,000 which…
A: Perpetual payment = 2000 P Interest rate = 4 % Therefore present value of perpetual payment = 2000 /…
Q: ngr. Manuel decided to buy a townhouse amounting to 3.3 Million if paid today. He is been told that…
A: Accounting means the calculation of expenses and revenues. It means the revenues are the income…
Q: Tony invested 200,000 pesos that earns 10% per annum compounded bi monthly. how much will it earn in…
A: Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan…
Q: What is the future worth of a series of equal year-end deposits of $2,200 for 14 years in a savings…
A: * SOLUTION :- Given that , Annual Deposit = $2,200 Life = 14 Years Interest Rate = 7%
Q: To make CDs look more attractive than they really are, some banks advertise that their rates are…
A:
Q: A man who won P300, 000 in a lottery decided to place 50% of his winnings in a trust fund for the…
A: Interest refers to the amount paid in excess of the principal amount by the borrower to the lender.…
Q: A firm has borrowed $5,000,000 for 5 years at 10% per year compound interest. The firm will make no…
A: Compound interest is the addition of interest to the principal sum of a loan or deposit, here we…
Q: Find the EAR in each of the cases. Use 365 days a year- Do not round intermediate calculations and…
A: Given APR 8%, 16, 12, 15 compounded as quarterly, monthly, daily, infinitely. To calculate:- EAR=?…
Q: Assume that you want to deposit an amount P into an account 2 years from now in order to be able to…
A: Here we calculate the value of P by calculating the present value and choose the correct option , so…
Q: A businessman needs to have P200,000 in eight years. How much(P) must he put into his 18% savings…
A: Compound interest formula: FV = P (1 + r / m)nm Where FV is the future value P is the principal…
Q: years that is equivalent to a pa starting with $45,000 at the er year and decreasing by $5,00C 10…
A: *Answer:
Q: If XYZ Bank advertises a savings account with an interest rate of 8.5% p.a. compounded weekly, what…
A: Given Interest rate i=8.5% compounded weekly. We have to calculate effective annual interest rate…
Q: What's the future value of an 11%, 5-year ordinary annuity that pays $800 each year? If this was an…
A: here A=$800 n= 5 year r = 11% so here we can use the Future Value of Ordinary Annuity and Future…
Q: You are considering investing $4,000 at an interest rate of 5% compoundedannually for five years, or…
A: Under Option 1: Investing $4000 at an interest rate of 5% compounded annually for five years. Value…
Q: Assuming that the interest rate is 5% and will remain at that value indefinitely: The present value…
A: The current worth of money to be received in the future with one or more payments, discounted at a…
Q: On the first day of the year, a man deposits P5,000 in a bank at 8% a year, compounded annually. He…
A: Deposit = P5,000 Interest = 8%
Q: monthly installments over the next five years Which of the following is more near to Ein's monthly…
A: Answer in step 2
Q: Find the 7 uniform annual deposits that can provide a single withdrawal of $38,500, at 2 years after…
A:
Q: Liam borrowed money from a bank worth P15,000.00 on January 11, 2020. They agreed on a simple…
A: Given: The principal amount is = P15,000 The time period is from = January 11, 2020, to March 10,…
Q: Greg wants to have $50 000 in five years. He has $20 000 today to invest. The bank is o ffering…
A: Future value= 50 000 Principle = 20 000 i = ?
Q: make your own given then answer the question) Ken plumbing wishes to pay off a debt of Php _______…
A: Given: Assuming the amount, years, and interest rate as: Ken wishes to pay off the debt of =…
Q: Recently, a certain bank offered a 5-year CD that eams 2.58% compounded continuously. Use the given…
A: Given information: Principal amount (P): $10,000 Interest rate (r): 2.58% Compunding: continuously…
Q: Today is your birthday and you decide to start saving for your retirement. You will retire on your…
A: In order to solve this, first, we will discount the $70,000 received per year after retirement for…
Q: George buys a car every 6 years for $18,000. He trades in his current car to count as the 20% down…
A: The rate before inflation is said because the nominal rate. The publicized or explicit rate on a…
Q: Suppose you have the alternative of receiving either $15,000 at the end ofseven years or P dollars…
A: The time period is denoted by n and the interest rate is denoted by i. The value of P can be…
Q: It is likely that airplane tickets will increase 5% in each of the next 4 years. The cost of a plane…
A: The present value of an amount (F) which would be available after t years with interest rate (R) is…
Q: It is likely that airplane tickets will increase 8% in each of the next 5 years. The cost of a plane…
A: Given:- Cost of plane=P10622Time=5 YearsI=2%g=8% To calculate:- Money required to be deposited=?…
Q: What payment 2 months from now would be equivalent in value to a $4,975 payment due in 12 months and…
A: Here we have to use Present Value Formula at simple interest. PV = P ( 1 + rt/100 )-1 where, P =…
Q: When you graduate you are going to borrow $15,000 to purchase a car. The interest rate being charged…
A: The term "EMI" stands for "equivalent monthly instalment." It refers to payments made on a regular…
Q: We 20 O Wle e going to put $2500 inte on account of 12%. 1f we when we close it, how long should we…
A: Disclaimer :- as you posted multiple questions we are supposed to solve the first one only as per…
Q: A recent government study reported that a college degree is worth an extra P150,000 per year income…
A: Given information, Extra income per year (A): P150,000 Interest rate (i): 6% Time period (N): 40…
Q: If you obtain a loan o P 1,000,000.00 at the rate of 12% compounded annually in order to build a…
A: Given, P- 1 M R- 12% N- 10 Years
Q: Suppose that you drive 36,000 miles per year and gas averages $3.60 per gallon. What will you save…
A: 1) The average car drive per annum is 36,000 miles. The average cost per gallon is $3.60.
Q: (30 points) The following cash flow diagram indicates the monthly payments you will have in the…
A:
Q: In compound interest, the interest for the current period is computed based on the amount (principal…
A: Compound Interest is the Interest that is calculated on the base Principal amount and accumulated…
Q: You use RM40,000 of your own money to start a catering business. During the first year you earn a 5%…
A: Economic profit refers to the additional profit obtained after subtracting all the cost of…
Q: Find PV: You can deposit money into a money market account that earns 3.5% interest per year. How…
A: Present Value:Present value is current value of Future cash flows discounted at specified discount…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- If you deposit 500 pesos at the end of each year for 3 years into an annuity that pays 5% annual simple interest, what is the value at the end of 3 years? (Round off to whole numbers. Digits only. No commas.)You borrowed an amount of $15,000 and paid it $20,223 in 3 years. If the interest rate was compounded monthly, what is the nominal interest rate?You deposit $10,000 in a fund that pays compound annual interest equal to 3%. One year later the interest rate changes to 4%, 2 years later the interest rate changes to 5%, and 3 years later the interest rate changes to 6%. How much will you have in the fund after 4 years if you withdrew $2,500 at the end of each of the previous 3 years?
- How quickly will 500$ will grow to 2000$ pesos if interest is 5% compounded quarterly?You invest 10,000 pesos for 3 years and get 10% interest compounded at the end of each year. What is the compound interest?Suppose you want to withdraw $1500 every 6month from an account that's pays 14% interest compounded twice a year you want to make a withdrawal over a 5 years period find the deposit you should make
- Use interest tables. Suppose that $1,000 is invested for 4 years at an interest rate of 12%, compounded quarterly. How much will be in the account at the end of 4 years? Choose an answer by clicking on one of the letters below, or click on "Review topic" if needed. A F = $1,000 (F/P,12%,4) = $1,000 (1.574) = $1,574 B F = $1,000 (F/P,12%,16) = $1,000 (6.130) = $6,130 C F = $1,000 (F/P,3%,4) = $1,000 (1.126) = $1,126 D F = $1,000 (F/P,3%,16) = $1,000 (1.605) = $1,605How much would have to be deposited today if you wish to have an account balance of at least $10,000 after 5 years if the account earns 8.0% interest compounded annually? Be sure to include a cash flow diagram.Example: Imagine you deposit 2000 TL at a monthly compounding rate of 6% for the first 2 years, and at a monthly compounding rate of 9% for the next 3 years. What will be the amount of money at the end of the 5th year?
- Bank North advertises, "We pay 3.50%, compounded daily." Bank South says, "We pay 3.50%, compounded continuously." If you deposit $10,000 with Bank South for one year, how much additional interest will you receive?How long (in years) will it take to quadruple it earns 0.08 compounded semiannually??A man wishes his son to receive 200 000 pesos ten years from now. What amount should he invest if it will earn interest of 10% compounded annually during the first 5 years and 12% compounded quarterly during the next 5 years? (Sketch the cash-flow diagram).