ngs plan req you paymer 250 each at the every for a year. The bank will then make six equal monthly payments to you, with its first payment due one month after the last payment you make to the bank. Compute the size of each monthly payment made by the bank, assuming a nominal interest rate of 4% p.a. payable monthly.
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- Interest can be computed more frequently than one time a year Select one: O True O False14. What is the nominal value of the interest compounded continuously for a period of 3years if the value of the uniform series present worth factor is 2.038?Find the present value (in dollars) of an annuity that pays $7,000 at the end of each 6-month period for 7 years if the interest rate is 6% compounded semiannually. (Round your answer to two decimal places.) $
- A person wishes to have a future sum of $1,00,000 for hisson’s education after 10 years from now. What is the single-payment that heshould deposit now so that he gets the desired amount after 10 years? The bankgives 15% interest rate compounded annually.Mr. Benedito, a grocery store owner, borrows $50,000.00 from a loan shark, handing him a $77,000.00 promissory note with a maturity of 6 months. What is the annual and monthly simple interest rate charged by the loan shark?A department store has offered you a credit card that charges interest at 1.05% per month, compounded monthly. a. What is the nominal interest (annual percentage) rate for this credit card? b. What is the effective annual interest rate?
- Suppose you deposited $200 at the end of every year for seven years in an account that earned 6% annual effevtive interest. At the end of seven years, how much would the account be worth?What amount a man deposit each year so that he can withdraw P 50 000 at the end of ten years. If the interest rate is 6% compounded continuously?URGENT! PLEASE WRITE LEGIBLE. Question Suppose we deposit $1500 into an account that pays a simple interest rate of0.5% each month. Find the amount of interest earned at the end of 3 years?
- Chris makes a deposit of $500 into his savings account at the beginning of each year for the next 20 years. If the account earns 5% interest rate per year compounded annually, what will be the future value at the end of 20 years?Need to calculate.I thought the formula needed to find the interest rate is i= (FW/PW) ^ (1/# of years) - 1. frim what i understand givens are F = 100000, P = 80000, n = 15. and i dint know why A is given but its 5000. I need this type of notation (A/P, i%, 15) not pure math notation Vi paja (e) $5,000 now for $225 at the end of each year 3-9. A company can either buy certain land for outdoor storage of equipment or lease it on a 15-year lease. The purchase price is $80,000. The annual rental is $5,000 payable at the start of each year. In either case, the company must pay property taxes, assessments, and upkeep. It is estimated that the land will be needed for only 15 years and will be salable for $100,000 at the end of the 15-year period. What rate of return before income taxes will company receive by buying the land instead of leasing it? (Ans. 7.7%) 100 for a prepaidSuppose you have a vehicle, the 1st year maintenance cost is estimated to be $100. The rate of increase in each subsequent year is 10%. What is the present worth of the cost of the 1st 5 years of maintenance at 8% interest?