Lino borrows $600,000 with interest at 14% compounded quarterly. He agrees to settle this obligation by a sequence of equal quarterly installments with the first one due at the end of 4 ½ years and the last at the end of 9 years. Find the installment payment.
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- 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.You buy a car for $27000. You get a loan at 7% interest compounded yearly. You will have 60 equal monthly payments of 5543.63 each month. How much total interest will you have payed on the car loan once all of your payments are complete..You borrow $ 27965 at 12.25 % interest compounded monthly. If you are unable to make any payments for 5 years, how much do you owe at the end of 5 years? No rounding off to interest rate and round off your final answer to 2 decimal places.
- You want $12,000 in your IRA in 6 years. Assuming you get 8% compounded quarterly, how much will you need to put in each quarter?Rafael invested $2,000 in a business that yields an annual interest rate of 10% compounded continuously. How much would he get. approximately at the end of 5 years from his investment?17. What is the effective annual interest rate if the nominal interest rate is 6%, compounded monthly?
- An investment of $2658 is made at the beginning of each month for 4 years and 11 months. How much will the investment be at the end of the term, if interest is 5% compounded monthly? Round your answer to 2 decimal places.Mr. Bill deposited 100,000 pesos in bank account earning interest at the rate of 10% compounded quarterly, what will it become at the end of 10 years?Jane deposits $5,000 in a bank account that earns 6% interest compounded semi-annually. How much money will she have after 10 years?
- 6. Compute for the effective interest rate per monthl Nominal rate= 2.35% compounded yearly 7.UPVOTE WILL BE GIVEN. PLEASE WRITE THE COMPLETE SOLUTIONS AND DRAW THE CASH FLOW DIAGRAM. NO LONG EXPLANATION NEEDED. FOLLOW THE INSTRUCTIONS CAREFULLY. What is the present equivalent of a uniform series of quarterly payments of $4,500 each for 4 years and a quarterly payments $2,000 of the next 6 years if the interest rate is 8% compounded bimonthly? Answer to 2 decimal places.Find the interest rates in the following situations. a. APR = 7%, compounded monthly. Find the effective annual interest rate. b. Nominal rate is 10% compounded quarterly. Find the effective semi-annual rate. c. The effective annual interest rate is 16.28% and compounding is monthly. Find the nominal interest rate.