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- 2. A savings bank offered you 6% nominal interest compounded every 2 months. You deposited $4,000. a) How much money will you get back after 5 years? b) What is the effective interest rate?Answer the following as indicated. (Format: problem, then, solution) 4. Find the present value of $300,000, due at the end of 2 years if the money is worth 8% compounded annually.Eng. economics. If $2000 is invested at 7% interest compounded continuously calculate its value after 3 years.
- How much will a bank deposit of $2,000 that pays 10% compound interest be worth at the end of 3 years?Provide answers in the form of a percentage to three decimal places . (a).What is the effective annual interest rate of a 4 % nominal annual interest rate compounded daily . (b).What is the effective annual interest rate of a 2 % nominal annual interest rate compounded weekly ? (c).What is the effective annual interest rate of a 7 % nominal annual interest rate quarterly ?1. What interest rate compounded monthly is equivalent to 10% effective rate?
- Use the formula for computing future value using compound interest to determine the value of an account at the end of 9 years if a principal amount of $2,500 is deposited in an account at an annual interest rate of 8% and the interest is compounded daily. (Assume there are 365 days in a year.) Question content area bottom Part 1 The amount after 9 years will be $enter your response here. (Round to the nearest cent as needed.)You want to buy an apartment at the price of 4 million Hong Kong dollars. You will do this with a mortgage from a bank at the annual interest rate 8% for 30 years. What is your annual payment? Draw a cash flow diagram.4. How long will it take money to quadruple if it earns 7% compounded semi-annually?
- 5. Find the present worth of a future payment of 100,000 to be made in 10 years with an interest of 12% compounded semi-quarterly on the first 4 years and 10% compounded quarterly on the last 6 years. Draw a cash flow diagram.QUESTION 3 if you invest $1,000 for 3 years in a term deposit with simple annual interest rate of 10%, the future value of the deposits at the end of the term will be Do not type the $ sign. Express your result with no decimals.Question 1: If you borrowed 18000$ at 4% annual interest. You agreed to repay the loan with five equal annual payments. How much of the total amount repaid is interest? How much of the third annual payment is interest, and how much principal is there? If you decided to pay off your loan after the third payment, how much will you pay?