Carla borrowed money to bank and she pays equal 3,500 every end of a quarter for 3 years with an interest rate of 6% every year. Find the following; Future value of ordinary annuity
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- Carla borrowed money to bank and she pays equal 3,500 every end of a quarter for 3 years with an interest rate of 6% every year. Find the following; a. future value of ordinary annuity b. present value of ordinary annuity c. future value of annuity due d. present value of annuity dueYagoda borrows $2,150.00 which she will repay with level weekly payments over 10 years. The interest rate is i(12) = 8.750%. What is the outstanding balance on the loan just after 453 payments? a. $349.45. O b. $373.01. O c. $392.64. O d. $325.89. O e. $298.40.Imelda opens a savings account with $12,000, which pays an annual interest rate of 7.8%. If she reinvests the generated interest every month and also deposits $2,300 each month, how much will be in the account after 2 years? The interest is reinvested on the same day as the $2,300 deposit. Otions: 69177.89 71052.15 73548.61 70524.79
- Erica borrowed money from Charles an amount of 58,744 and promise to pay at the end of second and fourth year at a simple interest rate of 15.198%. The second payment is 30% more than the first one. How much is the first payment? How much is the second payment?Carla borrowed money to bank and she pays equal 3,500 every end of a quarter for 3 years with an interest rate of 6% every year. Find the following; Future Value of Annuity due and Present Value of annuity dueEvery three years, D will pay Mr. J 5,000 at 8% rate to settle his loan. Mr. D will use which formula to compare with cash payment? A. Future value of IB. FV of AnnuityC. Present Value of ID.
- 9 Robert borrowed $28,372.63 from the bank, which needs to be paid with the amount of $404.21 at the beginning of every period compounded monthly, at an interest rate of 5.94%. What is the duration of this annuity? A 5.07 years B 4.98 years 7.16 years 6.22 yearsMrs Shiirley Abundo borrowed 20, 000.00 at 7.5% compounded quarterly at a certain cooperative. How much interest will be charge if she applies for a 2- year loan? What is the future value? a. 20,445.56 c. 39, 554.34 b. 28, 998.96 d. 30, 336. 24 What is the compound interest? a. 8,998.96 c. 5,996.56 b. 7,998.46 d. 4,338.55You make semiannual deposits of $584.00 into an ordinary annuity earning 5.07% compounded semiannually. How much money is in the account after 8 years? $11349.11 How much interest did you earn in your first year? $6677.11 Note: Your answers are a dollar amount and should include a dollar sign
- Suppose Zoe had deposited another $900 into a savings account at a second bank at the same time. The second bank also pays a nominal (or stated) interest rate of 7% but with quarterly compounding. Keeping everything else constant, how much money will Zoe have in her account at this bank in 13 years? O $163.00 O $166.16 O $964.67 O $2,218.36A person wants to borrow as much money as possible today with an annual payment of $1000 at the end of each year for 5 years. If he is charged 7% interest compounded annually, how much could he borrow? Select one: a. $9130.25 b. $6130.25 C. $4130.25 d. $8130.25 The future value of annual deposited started from the end of period one up to year 7, is: Select one: a. A(F/A,i,7) b. A(F/A,i,6) C. P(F/A,I,7) d. P(F/A,i,6)a man borrows money from a bank . he receives the money in 5 equal annual installment of X commencing at t=1 with t in years.He repays the loan with twenty equal annual payment of 100 . if the first payment is due one year after the last installment and the interest rate is i=0.13 the find an equation for X
