Jackie deposits GH¢200 at the beginning of each month for 5 years in an account paying nterest at 10 % compounded monthly. How much is in her account at the end of 5 years?
Q: Dylan deposits $10,000 now and makes an additional deposit of $5,000 at the end of Year 3 in the…
A: Interest charged on the principal amount and the interest accrued is known as Compound Interest. It…
Q: to settle a debt of 40000, Mrs santiago will pay quarterly for 7 years at 14% compounded quarterly.…
A: Future Value: The future value is the amount that will be received at the end of a certain period.…
Q: Bryan received a loan of $42,000 from the bank at 3.25% compounded monthly. If she had to repay $350…
A: Given that: Interest rate r = 3.25% per year = 0.2708% per month Period n =3 year= 36 months…
Q: Priscilla deposits $200 at the end of each month for seven years at 5% interest compounded monthly.…
A: Future Value = R [ (1+i)n - 1]i where, R = Monthly deposits n = Number of months i = Interest Rate…
Q: Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. What is n for the…
A: Basic Details: Investment = $8400 Time = 8 Years and 10 Months Interest = 5% semi Annually
Q: jose has determine dhe need to have $800000 for retirment in 30 years. His account earns 6%…
A: Amount need to be deposited in the account each month can be calculated using the formula of future…
Q: Nicole loans P900,000 from bank today which gives her 10% interest rate compounded annually. Based…
A: Loan amount (L) = P 900000 r = 10% n = 10 payments Let the annual payment = A
Q: A man owes ₱100,000 with interest at 6% payable semi-annually. What equal payments at the beginning…
A: Periodic payments are equal to the amount paid by the borrower at an equal interval that consists of…
Q: If Rachel obtained a business loan of $205,000.00 at 4.49% compounded semi-annually, how much should…
A: Present value of annuity Annuity is a series of equal payments at equal interval over a specified…
Q: Jane Adele deposits $1,700 in an account at the beginning of each 3-menth period for 12 years. If…
A: If the amount is deposited at end of each period, then such annuity is called ordinary annuity. If…
Q: A mother borrowed P200.000 with 2% interest monthly and promised to pay the amount in 30 equal…
A: EMI or Equated monthly installment is an arrangement entered between the lending institution and the…
Q: Clara borrows $41,000 today at 2.9% per year compounded quarterly, to start her own buisness. she…
A: In this question we need to compute the Clara's quarterly payments from following details: Loan…
Q: • You are to pay a bill in Meralco every month for 5 years. The accumulated amount of the payment…
A: Future value = Annuity * FVAF ( rate, years ) * FVIF ( rate, years )
Q: Joyce pays P 2,000 every two months to settle his obligations for two years at 8% compounded…
A: Bimonthly payment (B) = P 2000 r = 8% compounded bimonthly = 8%/6 bimonthly = 1.3333% n = 2 years =…
Q: Buhle wants to save R330 284,00 within the next four years. She makes equal monthly deposits at the…
A: given, future value = R330 284,00 r=12.5% m=12 (monthly compounding) n = 4 years
Q: A man deposits her annual bonus into a savings account that pays 8% interest compoundedannually. The…
A: In this question we need to calculate the amount in the saving account immediately after the fifth…
Q: Margo borrows $900, agreeing to pay it back with 5% annual interest after 10 months. How much…
A: Interest is the amount that an investor receives on the principle amount over certain period of…
Q: Mariana places the initial amount of $1,000,000 in a CDT at a monthly compound interest of 5% for 3…
A: Future value (FV) is the amount that a present investment will increase in value over time when kept…
Q: Hannah deposits OMR 500 in an account earning 5% compounded half yearly. What will be the interest…
A: Amount deposited = OMR 500 Interest Rate = 55 per annum Interest rate (r) half Yearly = 5%/2 = 2.5%…
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: You are to pay a bill in Meralco every month for 5 years. The accumulated amount of the payment you…
A: The concept of the time value of money states that the current worth of money is more than its value…
Q: Jovaira deposits ₱10,000 every 3 months in a time deposit account giving 7% interest rate compounded…
A: The amount at the end of 5 years can be computed with the help of future value of annuity
Q: Peter deposits $75 at the end of each quarter for 15 years into an account that pays 3.14%…
A: Given data; payment amount= $75 number of years = 15 annual rate = 3.14% compounding frequency = 4…
Q: Yolanda deposited $1,600 at the end of each six months for 2 years in a savings account. If the…
A: Future value (FV) refers to the sum value of current assets of the company which is evaluated at a…
Q: Akbar has borrowed $48,000 today and agreed to repay it in 5 years with monthly payments at the…
A: Given information: Amount borrowed is $48,000 Interest rate is 2.60% Number of years is 5 years
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: You deposit $5000 at the beginning of each year into an account earning 3% interest compounded…
A: Introduction: Annuity Due: It refers to the series or stream of equal payments made at the beginning…
Q: Ann saves 4,800 as a term deposit today. The interest is paid semi-annually. If her saving grows to…
A: APR is the annual percentage interest rate which is being earned on particular amount of investment.…
Q: Mr. Ramos savings allow her to withdraw 50,000 semi-annually for 8 years starting at the end of 3…
A: The concept of the time value of money states that the current worth of money is more than its value…
Q: Sam Salverri is planning to retire in 15 years. Money can be deposited by 8% compounded quarterly.…
A: Convert 8% compounded quarterly to its equivalent interest rate for monthly interval. Here, 'R'…
Q: What is the value of the account at the end of 9 years?
A: Depositing equal amounts at the end of the period for a fixed time period is in the form of an…
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: Sally has a sum of $19000 that she invests at 7% compounded monthly. What equal monthly payments can…
A: Present value (P0) = $19000 Monthly interest rate (r) = 0.00583333333333333 (i.e. 0.07 / 12) Monthly…
Q: Carol
A: The basic compound interest formula A = P(1 + r/n)nt .Priincipal is $1500,t= 25 years,r=3%.
Q: ica deposits her annual business profit into a savings account that pays 7% interest compounded…
A: Future Value refers to the value of the current asset or investment or cash flows at a specified…
Q: At the end of each quarter, Patti Deposits $700 into account that pays 12% interest compounded…
A: In order to find the ending amount one needs to find the future value.
Q: Lydia deposits $900 at the end of each year for 9 years in a savings account. The account pays 8%…
A: A study that proves that the future worth of the money is lower than its current value due to…
Q: Joe is settling his debt by paying P50,000 at the beginning of every 6 months for 3 years. If the…
A: Semi annual payment = P 50,000 Period = 3 Years Number of semi annual payments = 3*2 = 6 Annual…
Q: Erica deposits $1,400 at the end of every 3 months in an RRSP that is earning 6.90% compounded…
A: Using excel NPER Function
Q: Kim deposits 4,700 pesos into an account earning 1.25% intererst per annually. How much money will…
A: We need to use simple interest formula given below Simple interest =Principal*Rate*Time
Q: Jenny has borrowed P 30000 in 1 year and P 80000 due in 5 years. She must pay P 50000 today and the…
A: Interest rate = 6% compounded semiannually Let the amount borrowed in year n = Bn and the amount…
Q: Marissa converted an RRSP balance of $125,000 into an RRIF that will pay he $1,850 at the end of…
A: Future Value: The future value is the amount that will be received at the end of a certain period.…
Q: Beatrice deposits $75 at the end of each month into an account earning 4.75% compounded monthly. How…
A: Compound interest refers to the interest accrued not only on principal amount but also on the…
Q: Sam Salverri is planning to retire in 15 years. Money can be deposited by 8% compounded quarterly.…
A: in this we have to calculate monthly interest rate and from that we can get required value.
Q: blake purchased an annuity that had an interest rate of 2.50% compounded semi- annually. it provided…
A: Solution- 2.50% interest rate semianually=2.52=1.25%=1.25100=1+r6-1=1+r=1.002072Monthly…
Q: Jacqueline invests $12000 for 8 years and 8 months. The account earns 11% semiannually. What is n…
A: Investment = $12000 Time of Investment = 8 Years and 8 Months Interest Rate = 11% per year…
Q: Jasdeep plans to deposit $150 at the beginning of each month for 20 years. If the account earns 7.2%…
A: In finance, the term annuity shows the sequence of periodic cash flows over a particular time…
Q: Ashley borrows Php.75,000 from Stella with interest at 6% compounded quarterly. She agrees to pay…
A: Loan amount (PV) = Php. 75000 First payment period = 3 Years First payment quarterly period (t) =…
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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?Sammi deposits $12000 at the beginning of each 6-month period into a special savings account. This account will last for 7 years and pays the interest rate of 6% compounded semi-annually. What will be the balance when she closes the account in 7 years? $AnswerMinu deposits $950 at the end of each quarter for 6 years in an account that earns 11.8% per year compounded quarterly. At the end of 6 years she has $32 501.04. What would the amount of the annuity be if she doubles the time period to 12 years?
- Sammi deposits $12000 at the beginning of each 6-month period into a special savings account. This account will last for 7 years and pays the interest rate of 6% compounded semi-annually. What will be the balance when she closes the account in 7 years? $.......Priscilla deposits $200 at the end of each month for seven years into savings account earning 5% compounded monthly. How much does she have in the account after seven years?Daniel deposits $ 200 at the beginning of each month for 5 years in an account paying an interest rate of 10.5% compounded monthly. How much is in his account at the end of 5 years?
- Mrs. Carter deposits P 100 in the bank at the end of each month. If the bank pays 6 % per year compounded continuously, How much money will she have accumulated at the end of 5 years?Peter deposits $75 at the end of each quarter for 15 years into an account that pays 3.14% compounded quarterly. How much will he have in his account at the end of this time?Priscilla deposits $200 at the end of each month for seven years at 5% interest compounded monthly. How much does she have after 7 years?
- Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. What is n for the compound interest part? What is the future value after the compound interest part? Simple interest is used for how many months? Assuming simple interest for the partial period, how much money does Hanna have in the account at the end of 8 years and 10 months?Isabelle makes deposits of $365 monthly (at the end of each month) into an account that pays 1.5% interest compounded monthly. How much money will be in the account after 5 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 Annuity