1 Using the simple interest formula, determine the number of days until $2269.00 will earn $26.54 interest at 3-% p.a. 2 The number of days required is (Round up the final answer to the nearest day as needed. Round all intermediate values to six decimal places as needed.) ***
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- Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions Kristen Quinn makes equal deposits of $500 semiannually for 4 years. Required: What is the future value at 8%? (Note: Round answers to two decimal places.)Calculating Interest Using 360 days as the denominator, calculate interest for the following notes using the formula I = P × R × T. Round your answers to the nearest cent. Principal Rate Time Interest $4,200 6.00% 30 days $fill in the blank 1 1,000 7.50 60 $fill in the blank 2 4,400 8.00 120 $fill in the blank 3 950 6.80 95 $fill in the blank 4 1,250 7.25 102 $fill in the blank 5 2,400 7.00 90 $fill in the blank 6Let y be the balance in an account if you deposit $5000 for x years at 4% APR compounded monthly. USE ALL DECIMALS a) Write the formula for y = f(x) b) Then rewrite the formula as an annual compounding (APY) formula y = c) The APY (clear from part b) is:
- Find the amount of interest paid on on a $800 Investment that earns 4.9% simple annual interest for 30 days. In this problem, use the Bankers' Rule, which stipulates that 1 year 360 days. Round to the nearest cent (two decimal places.) S1. If the stated annual rate of interest compounded annually is 8% then what is the equivalent annual rate compounded daily? Pls show formula used. Final dollar answers should be rounded to two decimal places. Interest rate answers should be rounded to 6 decimal places if expressed as a decimal or 4 decimal places if expressed as a percent. Use timeline if necessary. No excel .Thanks!Note: DONT USE EXCEL! Directions: Compute the interest. Round off your final answer up to 2 decimal places. 1. P27,000 at 6.5% simple interest for 1 year. 2. P31,000 at 7.5% simple interest for 50 days. 3. P63,000 at 12.5% simple interest for 3 years and 6 months. 4. P89,500 at 11.5% simple interest for 220 days. 5. 36,000 at 9.7% simple interest for 2 years.
- What is the nominal annual rate of interest compounded monthly at which $1663.00 will accumulate to $2780.33 in three years and three months? Question content area bottom Part 1 The nominal annual rate of interest is enter your response here%. (Round the final answer to four decimal places as needed.Suppose you deposit $1,751.00 into an account today that earns 5.00%. It will take ___ years for the account to be worth $2,806.00. Answer format: Number: Round to: 2 decimal places.1. What balance will be in an account at the end of 10 years, if € 3 500 is deposited today and the account earns 3,5% annual interest, compounded a) monthly? using TVM functions mannully Principal Interest rate Time period Compounding frequency Total number of compounding periods Interest per period Total Interest earned Final balance = FV Final balance = FV (EUR) (as a decimal) (number of years) (times per year) (as a decimal) (EUR) (EUR) (EUR) 3,500 0.035 10 1 10 0.0350 1,437.10 4,937.10 4,937.10 3,500 0.035 10 2 20 0.0175 1,451.72 4,951.72 4,951.72 3,500 0.035 10 4 40 0.0088 1,459.18 4,959.18 4,959.18 3,500 0.035 10 12 120 0.0029 1,464.21 4,964.21 4,964.21
- Suppose you deposit D dollars at the beginning of each month into an account that pays a monthly rate of r as a decimal. Then, the balance B of the account after t months is given by B = D(1 + r) (1 + r)t − 1 r dollars. Suppose you deposit $160 at the beginning of each month into an account that pays a monthly rate of r = 0.005, which corresponds to an APR of 6%. How long does it take for the account balance to build to $2600? Report your answer to the nearest whole month. monthsMark Welsch deposits $7,300 in an account that earns interest at an annual rate of 12%, compounded quarterly. The $7,300 plus earned interest must remain in the account 2 years before it can be withdrawn. How much money will be in the account at the end of 2 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)Given Principal $14,500, Interest Rate 8%, Time 240 days (use ordinary interest) Partial payments: On 100th day, $5,600 On 180th day, $3,300 a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Solve for Total Interest Cost: b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest cent.) On 100th day On 180th day Balance after the payment c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Solve for Final Payment: