Q: An investor deposits $100 into his credit union account that pays interest at the rate of 3.25% per…
A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…
Q: A man deposited $10,000 in a savings account when his son was born. The nominal interest rate was 8%…
A: The future value t is the estimated value of the deposit on a future date with an estimated interest…
Q: Walter is investing $5,000in an account paying 6.75 percent annually for three years. What is the…
A: Principal invested, P = $ 5,000Interest rate, R = 6.75%Time, T = 3 yearsAs a first step, we will…
Q: Laura deposited $1,100 at the end of every month into an RRSP for 6 years. The interest rate earned…
A: Future Value of Annuity formula will be used to calculate the value of monthly instalments at the…
Q: Mary Toy borrowed $3,000 from her parents and repaid them $3,120 after 9 months. What simple…
A: Formula to calculate r under simple interest is: R = I/PT Where r is the rate of interest, I is the…
Q: Ali invested 5000 Rials in a saving account that paid quarterly interest. After 6 years the money…
A: Solution: Calculating interest rate using future value and present value.
Q: Timothy invests $5000 at 17% interest compounded daily for three years. How much does he have in the…
A: 17% interest compounded daily means the interest rate will be divided by 365 and n will be…
Q: Rachael invests $8000 for 7 years and 8 months. The account earns 12% semiannually. A) What is n…
A: Future value of present sum depends on whether it is simple interest or compounded…
Q: Amishi deposited $600, at the end of each six months for 19 years in a savings account. If the…
A: The future value (FV) represents the value of a current asset at some point in the future based on…
Q: Amishi deposited $800, at the end of each six months for 19 years in a savings account. If the…
A: The future value of an annuity is the value of a series of equal payments each period calculated at…
Q: Billy borrowed an amount of money from Kat. He agrees to pay the principal plus interest by paying…
A: Annual payment = P 38,973.76 Period = 3 Years Annual interest rate = 8% Quarterly interest rate =…
Q: Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. a) What is n for…
A: Basic Details: 1. Investment = $8400 2. Time = 8 years and 10 Months 3. Interest rate = 5 %…
Q: Timothy invests $5,000 at 17% interest compounded daily for three years. How much does he have in…
A: Future value = Present value(1 + Rate)^Time
Q: Salma borrowed $600from a bank for 2 years and was charged simple interest. The total interest that…
A: The annual interest rate on the loan is calculated using the simple interest formula given as below:…
Q: Mariah invested $10,000 in a bank certificate of deposit at a rate of 5% interest compounded…
A: Certificate of deposits is an investment product offered by banks. The interest rates on…
Q: Lauren deposited $1,200 at the end of every month into an RRSP for 7 years. The interest rate earned…
A: Deposit = 1200 per month END OF PERIOD DEPOSITS Time Period = 7 Years × 12 = 84 Months Semi…
Q: Joella invested RM5,000 in an interest-bearing promissory note earning an 8% annual rate of interest…
A: Following is the answer to the question
Q: Mr. Al Khasim deposited OMR 20,000 in a bank which offers a compound annual interest of 6%. How long…
A: Compound interest is one of the form of interest under which interest is charged on both principal…
Q: value of the investment after 5 years b) How much interest was earned
A: An annuity is the fixed amount that is deposited at a fixed interval of time over a predetermined…
Q: Sam deposited $900 at the end of every month into an RRSP for 7 years. The interest rate earned was…
A: Here, Monthly Deposit is $900 Interest Rate for first 4 years is 4.50% compounding Semi Annually…
Q: Chris invests $19,000 at 4% simple interest for 7 year. How much is in the account at the end of the…
A: Investment is the practice of exchanging current revenue for an asset that is expected to provide…
Q: Ma. Nochna Pula borrowed $10,000 at 6% annual compound interest. She agreed to repay the loan with…
A: Annual payment can be calculated using the present value of annuity formula. Present value of…
Q: Frank invests $ 4500 dollars into an account earning interest compounded quarterly. After 10 years…
A: given, pv = $4500 fv = $5600 n =10 years m =4 (quarterly compounding)
Q: Yolanda deposited $1,800 at the end of each six months for 2 years in a savings account. If the…
A: The future value of an investment is the amount accumulated in the account after a period of time.…
Q: Yolanda deposited $1,800 at the end of each six months for 2 years in a savings account. If the…
A: The value of money differs with the time passage and the value of it at present is worth more than…
Q: Tina deposited $20 in a savings account earning 5% interest, compounded annually. To the nearest…
A: Interest is the amount charged or received for loan taken or investment made. There can be simple…
Q: Brian borrows $ 7500 from his friend at an annual 6% interest rate, which he will pay five years…
A: Future value is the value of the present cash flows after certain period. Due to interest that can…
Q: Alexis deposited $1,000 at the end of every month into an RRSP for 7 years. The interest rate earned…
A: Future value of annuity (FVA) is a stream of recurring cashflow compounded at specified rate.…
Q: Alexandra had a balance of $2,000 in her RRSP. In addition to this, she invested $300 at the end of…
A: Given,
Q: Frank invests $ 2500 dollars into an account earning interest compounded quarterly. After 13 years…
A: Future Value = Present Value * (1+r)^n Where, r =rate per period n = no. of compounding period i.e.…
Q: Minu deposits $950 at the end of each quarter for 6 years in an account that earns 1.8% per year…
A: As the number of compounding period increase than the effective interest rate increases and more…
Q: Heidi deposits $8,000 in a savings account that earns 4.5% interest, compounded quarterly. How much…
A: This question is from time value of money. It is the concept that money you have now is worth more…
Q: Bruno deposited $7,500 into an investment account and seven years later, the balance in the account…
A: The rate of return earned on the account can be computed by using the concept of time value of money
Q: Harleen has deposited $125 at the end of each month for 13 years at 4.68% compounded monthly.…
A: Given the information in question Monthly deposit =$125 Interest rate =4.68%(monthly) ( I assume it…
Q: Erica borrowed money from Charles an amount of 58,744 and promise to pay at the end of second and…
A:
Q: Smith invests usd 10.000 in an account that pays interest. After the first year he receives 4.200…
A: Future value is the accumulated sum of money that is invested with the motive to earn a certain…
Q: Wasim invests $220,000 in an annuity that earns 8.50% interest compounded quarterly. It makes…
A: An annuity is referred to lump-sum payment made by you in return for regular disbursements,…
Q: An investor deposits $100 into his credit union account that pays interest at the rate of 3.25% per…
A: Deposits= $100 Interest= 3.25% per year Period= 7 years
Q: into an account that pays 3.75% pel annually. How much interest will Owen have earned over the…
A: Information Provided: Years = 8 Semi-annual deposits = $250 Interest rate = 3.75% compounded…
Q: Rita borrowed $4000 from a bank for 5 years and was charged simple interest. The total interest that…
A: Loan amount = $ 4,000 Period = 5 Years Interest amount = $ 1,600
Q: Muhammad borrowed $ 5,000 from a bank 7% annual interest, provided that Muhammad pays the loan in…
A: Annual payments for the loan is calculated y present value of annuity formula. Total interest on…
Q: Carol borrowed $5,200 and signed a straight note with an interest rate of 7% per annum. If she paid…
A: A straight promissory note can be defined as that note which does not require periodic payments over…
Q: How much money did he borrow if the interest is 8% compounded quarterly ?
A: Principal amount is the amount initially invested in a deposit account or the net amount borrowed by…
Q: Travis invested $8000 in an account that pays 4 percent simple interest. How much more could he have…
A: Investment = 8000 Simple Interest Rate = 4% N = 7
Q: Eleven months after borrowing money, Dorah pays an interest of ₱2,800. How much did she borrow if…
A: In order to find the principal amount one has to find the yearly interest rate and then principal.
Q: ohn deposits Ghs|250 at the of each month for 5 years account that credits interests at a nominal…
A: Annuity means where regular payment is made at the end of regular period and full amount with…
Q: 1) Alisha invests 5,000 into an account. The effective monthly interest rate is .25% for the first…
A: Amount available in account after given time period and interest rates is calculated by future value…
Q: Yolanda deposited $1,200 at the end of each six months for 2 years in a savings account. If the…
A: The question is based on the concept of Annuity
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- Maria deposits $1,000 in her account at a rate of 3% per year as interest for 2 years. what is the interest percent?Rachael invests $8000 for 7 years and 8 months. The account earns 12% semiannually. A) What is n for the compound interest part? B) What is the future value after the compound interest part? C) Simple interest is used for how many months? D) Assuming simple interest for the partial period, how much money does Rachael have in the account at the end of 7 years and 8 months?1) Alisha invests 5,000 into an account. The effective monthly interest rate is .25% for the first six months, .5% for the next year, and .75% for the next six months. Find the amount Alisha has in the account after two years, and find the average compound monthly interest rate (i.e. the equivalent effective monthly interest rate) for the two year period. Finally, find the average yearly interest rate (i.e. the equivalent effective annual interest rate) for the two year period.
- 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?Avril deposited $800 in his bank at 1.5% for five years. Use the simple interest formula to calculate the amount of interest Avril will earn. Calculate the future value of her deposit.Walter is investing $5,000in an account paying 6.75 percent annually for three years. What is the interest-on-interestif interest is compounded?Hint: Find the interest earned using compound interest and simple interest. The difference between them isyour answer.
- An investor deposits $100 into his credit union account that pays interest at the rate of 3.25% per year (payable at the end of each year). He leaves the money and all accrued interest in the account for 7 years. How much will he have at the end of the 7 years?At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8% compounded annually. How much is in the account today? How much would be in the account if the deposits were made at the beginning of each year (PMT Type) than at the end of each year? (Use Future Value of an AnnuityJacqueline invests $12000 for 8 years and 8 months. The account earns 11% semiannually. What is n for the compound interest part? A)What is the future value after the compound interest part? B) Simple interest is used for how many months? C) Assuming simple interest for the partial period, how much money does Jacqueline have in the account at the end of 8 years and 8 months?
- Stella deposits $54,000 in a savings account at a bank that offers interest of 5.3% on such accounts. What is the value of the money in her savings account in five years’ time?Lydia deposits $900 at the end of each year for 9 years in a savings account. The account pays 8% interest, compounded annually. Lydia calculates that the future value of the ordinary annuity is $11,238.80. What would be the future value if deposits are made at the beginning of each period rather than the end?lynn deposits $683.09 at the beginning of each quarter for three years in order to accumulate $9,500.60. Lynn would like to know what nominal rate of interest compounded quarterly she must earn to accumulate $9,500.60. Answer the following question: This question is an example of
