1. A bank is offering to sell certificates of deposit valued at $ 5,000.00. At the end of 3 years, the bank will pay $5,310.00 to the certificate owner. Based on a three- month interest period: What is the interest rate the bank is paying you each interest period? b) What are the nominal and effective interest rates on this certificate of deposit?
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- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383A bank is offering to sell 6-month certificates of deposit for $12,000. At the end of 6 months, the bank will pay $13,000 to the certificate owner. Compute the nominal annual interest rate and the effective annual interest rate.The Bank pays $1,200 in a bank deposit after a period of 12 years at an annual interest rate of 6.5% How much should you deposit in your bank account now Future Value ? Discount Rate/Period ? No. of Periods ? Present Value ?
- The rates offered by a bank on deposits between $10,000 and $24,999 are shown in the following table: Term 180 to 269 days 270 to 364 days Rate. 3.15% 3.45% How much more will an investor earn from a $10,000 investment in a 364-day GIC than from two consecutive 182-day GICS? Assume that the interest rate on 180- to 269-day GICS will be the same on the renewal date as it is today. Remember that both the principal and the interest from the first 182-day GIC can be invested in the second 182-day GIC. (Use 365 days a year. Do not round the intermediate calculations. Round your final answer to 2 decimal places.) An investor will earn $ moreThe following certificate of deposit (CD) was released from a particular bank. Find the compound amount and the amount of interest earned by the following deposit. $2500 at 7% compounded daily for 10 years. What is the compound amount? $ (Round to the nearest cent.)An investor makes a 15 year deposit of $57,632. The bank is paying an interest rate of 11% per year, compounding twice a year. Calculate "i" (interest rate per period) correct to 2 decimal places. Please do not enter "%" into your answer box
- A bank is offering a loan of $20,000 with an interest rate of 9%, payable with monthly payments over a 4-year period. a. Calculate the monthly payment required to repay the loan. b. This bank also charges a loan fee of 4% of the amount of the loan, payable at the time of the closing of the loan (that is, at the time the borrower receives the money). What effective interest rate is the bank charging?5. Assume you deposit RM1,000 into a savings account every three months that compounds interest semiannually. a. Determine the payment period (PP) and compounding periods (CP) b. State the payment period greater than or less than the compounding period.Determine the interest rate earned on a $1,500 deposit when $1,680 is paid back in one year.
- A certificate of deposit (CD) is an agreement between a bank and a saver in which the bank guarantees an interest rate and the saver commits to leaving his or her deposit in the account for an agreed-upon period of time. National Trust Savings offers five-year CDs at 8.33% compounded daily, and Bank of the Future offers five-year CDs at 8.36% compounded annually. Compute the annual yield for each institution. (Round your answers to two decimal places.) NTS BF %1- A person deposits 200.00 riyals at the end of each month for a year in a bank, and it has been found that the total of what he is entitled to at the end of the year is 2510.00 riyals. What is the interest rate? 2- A person deposited 900.00 riyals first every two months for a whole year, then began depositing 400.00 riyals at the beginning of each Two months for another year. If the interest rate is 15%, what is his balance at the end of the period? 3- In the first of every two months, a person deposits a certain amount. If it is found that the total of what he is entitled to at the end of the year is EGP 3,920, and if the annual interest rate is 12%, what is the value of the equal payment ? 4- Find a sentence of a semi-annual payment with a periodic value of 300.00 riyals, and it is paid for two years and with simple interest at a rate of 5% annually if the payments are: (a) regular, (b) immediate 5- A person deposited 500.00 riyals in a bank at the beginning and middle of each…1. A five-month term deposit of $10,000 at the Scotiabank earned $175 in interest. What annual rate of simple interest did the deposit earn?