At a certain interest rate compounded quarterly, PT a. What is the nominal interest? b. What is the amount at the end of 20 years? will amount to P25,000.00 after 10 years
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- Example: Imagine you deposit 2000 TL at a monthly compounding rate of 6% for the first 2 years, and at a monthly compounding rate of 9% for the next 3 years. What will be the amount of money at the end of the 5th year?You borrowed an amount of $15,000 and paid it $20,223 in 3 years. If the interest rate was compounded monthly, what is the nominal interest rate?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?
- You invest 10,000 pesos for 3 years and get 10% interest compounded at the end of each year. What is the compound interest?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?Mr. Benedito, a grocery store owner, borrows $50,000.00 from a loan shark, handing him a $77,000.00 promissory note with a maturity of 6 months. What is the annual and monthly simple interest rate charged by the loan shark?
- 14. What is the nominal value of the interest compounded continuously for a period of 3years if the value of the uniform series present worth factor is 2.038?Mr. Cruz invested P 20,000 for 1 year at 12% compounded monthly. At the end of 1 year, he reinvested all ( the principal and the interest ) at 6 % compounded continuously for 1 year. How much will the investment amount?NEED HELP ASAP! THANK YOU!An accountant is entitled to received 35,000 pesos at the beginning of each year for 18 years. What is the present value in pesos of this annuity at the time he is suppose to receive the first payment if the rate of interest is 3% compounded annually?
- How quickly will 500$ will grow to 2000$ pesos if interest is 5% compounded quarterly?The effective interest rate is 9.38%. If interest is compounded monthly, what is the nominal interest rate?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.) $