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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.2. A loan of $25,000 was repaid at the end of 9 months with $28,500. What annual rate of interest wascharged?3. If an investment company pays 16% compounded quarterly, how much should you deposit to have $5,000two years from now?