1.A person deposited Rs.5000 at the end of six months in each of the next five years. The bank offered rate is 10%. Calculate how much he has at the end of five years.   2.A person saved Rs.2500 at the end of each month in the next three years. The bank offered rate is 12.25%. Calculate how much he has at the end of three year

Q: A young man saved his money every quarter for 5 years into his bank account. He deposits P2.000 per…

A: Quarterly deposit first 2 years = P 2000 Quarterly deposit next 3 years = P 4000 Annual interest…

Q: A company deposits $10,000 in a bank at the beginning of each year for 20 years. The account earns…

A: Effective Annual Rate is a modified rate of return where it considers the compounding effect.…

Q: Suppose an individual makes an initial investment of $2500 in an account that earns 7.8%. compounded…

A: Given information: Initial investment is $2,500 Interest rate is 7.8% Number of periods is 12 made…

Q: how much would he have at the end of 3 years?

A: Time value of money(TVM) means that the present sum of money will have more value than the future…

Q: You deposit $7,000 into an account earning interest at a 7% APR.  You keep the money in the account…

A: Initial deposit = $7,000 Interest rate = 0.07 or 7% Period = 5 years Money in account at the end of…

Q: How much (in dollars) is needed in an account that earns 10.8% compounded monthly to withdraw $1,000…

A: The formula used as follows: Present value=A1-11+rnr

Q: An individual makes six annual deposits in a savings account starting one year from now that pays…

A: Let the annual deposits be "x". We know that FV of annuity = P*[(1+r)^n - 1]/r = x * [1.10^6 -…

Q: You put $9,000 in an account earning 3%. After 2 years, you make another deposit into the same…

A: Deposit now (P1) = $ 9000 Annual interest rate (r) = 3% Deposit after 2 years (P2) = X Balance after…

Q: Anita put up a bank account with an initial deposit of 25, 000. After six months, she deposited…

A: Simple interest is applied directly on the principal amount. The formula for calculating simple…

Q: An individual makes five annual deposits of Php 2,000 in a savings account tha pays interest at a…

A: The answer is shown below:

Q: $7000 are invested in a bank account at an interest rate of 5 percent per year. Find the amount in…

A: To find the amount after certain period we have to use the compound interest formula : A = P 1+r100n…

Q: A person invested two amounts in a bank for a full year. From the first, the rate is 6% annually,…

A: Let the 1st amount be x and 2nd amount be y

Q: You invest $10,000 in an account which pays 3% compounded monthly. How much is in the account after…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: How much money must be deposited at the end of each year in a savings account that pays 9% per year,…

A: Compounded annually means at the end of every year, interest shall be added back to the principal…

Q: If ₱17,000 is deposited at the end of each year for 16 years in a bank that give 7% interest per…

A: Future Value: The future value is the amount that will be received at the end of a certain period.…

Q: On the first day of the year, a man deposits $4,000 in a bank at 8% per year, compounded annually.…

A: Deposit at the begining of the year is $4,000 Interest rate is 8% per year Withdrawal at the end of…

Q: Anita put up a bank account with an initial deposit Lou f P25, 000. After six months, she deposited…

A: Simple interest is the amount earned only on the investment principal.

Q: (a) Bill made deposits of $200 at the beginning of each month into a savings account for 12 years…

A: In compound interest, the interest earned is reinvested because of which we earn even more interest…

Q: If 6000 dollars is invested in a bank account at an interest rate of 8 per cent per Find the amount…

A: Future value is the value of present cashflow compounded to future date at specified rate. formula:…

Q: You invest Rs. 10,000. During the first year the investment earned 20% for the year. During the…

A: In this question we require to compute the value of investment after two years if we invest 10000…

Q: Twelve years ago, you deposited RM3,400 into an account. Seven years ago, you added an additional…

A: FV = PV* (1 + r / n)nt Where, PV = Present value FV = Future value r = Rate of interest (percentage…

Q: 1. If you deposit $28,688 annually at the end of every year in a bank account paying 5% annually,…

A:

Q: A person invested two amounts in a bank for a full year at a common interest rate. The total…

A: in this question one has to find the interest of the first amount in numerical terms as well as in…

Q: Each month you put $69.60 into the bank, with an APR of 3%, how much with you have after 10 years.…

A: We will make use fo the financial calculator to calculate the FV. Inputs are: n = number of periods…

Q: If at the end of each month, a saver deposited $100 into a savings account that paid 12% compounded…

A: Future value is the worth of the current amount at some future specified date considering the…

Q: An Engineering firm deposits Kshs.1,000,000 into a bank that pays an interest of 5% per annum…

A: Future value = Present value * (1 + Interest rate)^number of years

Q: An individual makes five annual deposits of $2,000 in a savings account that pays interest at a rate…

A: Interest is the amount which is calculated on the amount of borrowings or finance. The amount of…

Q: An individual makes five annual deposits of Php 2,000 in a savings account that pays interest at a…

A: Given: Number of annual deposits "n"= 5 Amount of annual deposits "PMT"= 2000 Rate per year during…

Q: Matthew has $40,000 invested in a checking account paying 3.7% per year and a savings account paying…

A: The actual interest earned by Matthew during the year is equal to $ 40,000 X 5.5 % = $ 2,200. The…

Q: You open a bank account, making a deposit of $300 now and deposit of $1000 every other year (the…

A: Amount deposit now for 10 years = 300 Amount deposited every year from & at the end of 2nd year…

Q: A person saved Rs.2500 at the end of each month in the next three years. Bank offered rate is…

A: Installment of saving amount (P)= Rs.2500 at the end of each month Time period (n) = 3 years…

Q: First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City…

A: Amount deposited (PV) in the Second City Bank is $66,000 Number of years (n) of deposit is 10 years…

Q: A man deposits Php 1500 in the bank now and plans to withdraw Php 1000 next year. What will be the…

A: Deposit in year-0 = Php 1500 Withdraw in year-1 = Php 1000 Future value period = 10 Years Annual…

Q: A person invested two amounts in a bank for a full year at a common interest rate. So the total…

A: Interest is amount paid by borrower and received by lender in exchange of funds. Interest is charged…

Q: how much should you deposit in a bank paying 2% compounded quarterly to accumulate an amount of…

A: Present value of annuity is the current value of the future payments that are calculated using the…

Q: If you deposit $13,.224 annually at the end of every year in a bank account paying 8% annually. how…

A: Annual deposit (D) = $13,224 Period (n) = 5 Years Interest rate (i) = 8% (or 0.08) Amount saved at…

Q: How much money should be deposited annually in a bank account for five years if you wish to withdraw…

A: We required for calculating an amount for 5 years from this time. Then, we need to determine the…

Q: You deposit $200 each month into an account earning 8% interest compounded monthly. Round to the…

A: Answer b) Total amount put by us in account:   = Amount monthly invested * 12 * number of years =…

Q: You deposit money into a  savings account which offers a rate of 5.75% compounded weekly. five years…

A: we have to calculate weekly interest rate and than calculate present value.

Q: On the first day of the year, a man deposits ₱1,000 in a bank at 8% per year  compounded annually.…

A: future value = present value *(1+ rate) value at the end of 1st year = 1000 * 1.08 = 1080 amount…

Q: A person deposited an amount of 1000 dinars in a savings account, what is the accumulated amount in…

A: Future value of Investment: After compounding for a particular duration, interest rate, additional…

Q: Mr. Ali has invested an amount of Rs101, 876 in a Bank scheme. Bank credits profit of 7% each year,…

A: Given Information: Investment (Present Value) : Rs. 101,876  Profit (Interest rate): 7 %  Bank fee…

Q: On the first day of the year, a man deposits ₱1,000 in a bank at 8% per year  compounded annually.…

A: Future value at the end of one year = 1000 * 1.08 = 1080 amount remaining after he withdraws = 1080…

Q: A man deposits 320 at the end of each three months in an account paying 6% converted quarterly. In…

A: No of deposits required can be calculated using the formula of the future value of annuity.

Q: A young man saved his money every quarter for 5 years into his bank a 2 years and P4,000 per quarter…

A: In this we have to calculate the quarterly interest and from that we can get the required value.

Q: how much would you have saved at the end of six years?  Round your answer to the nearest one dollar.

A: Future Value of Annuity = P x [{(1 + r)^n} - 1] / r Here, P = Periodic Deposit i.e. $46904 annually…

Q: Suppose a bank pays you 4% interest compounded quarterly. You deposited $10,000. How much will you…

A: If interest is computed on the actual loan amount, then it is simple interest. When the interest is…