4 and 5 please Which formula would you use for each of the following problems?A. I= PrtB. F= P(1 +1)"!!C. P= F(1+1)*1. How much simple interest will be earned on an $800 deposit inan account that earns 2.3% simple interest per year over a pe-riod of 5 months?2. Kyrie borrowed $3,000 from her parents to buy some furniture.Her parents will charge her 3.25% simple interest per year. Herparents want the loan repaid in 1.5 years. How much will Kyrieowe her parents in 1.5 years?3. In a certain town child daycare rates have been rising at the rateof 7% per year compounded annually. If 2 years ago the rate perweek was $150, how much would you expect to pay today forone week of daycare?4. A large corporation has invested $1 million in certificate of de-posits (CD). The CDs py 8% per year compounded semiannu-ally. How much will the CDs be worth in 8 years?5. Jerry would like to purchase a new car in 4 years. He deposits$3,500 in an account that pays 7% per year compoundedmonthly. How much will he have towards the purchase of thecar in 4 years?.

Since more than one question is posted at a time. The answer for 4th question is only provided as…

4. A large corporation has invested $1 million in certificate of de- posits (CD). The CDs py 8% per year compounded semiannu- ally. How much will the CDs be worth in 8 years? 5. Jerry would like to purchase a new car in 4 years. He deposits $3,500 in an account that pays 7% per year compounded monthly. How much will he have towards the purchase of the car in 4 years?

4. A large corporation has invested $1 million in certificate of de- posits (CD). The CDs py 8% per year compounded semiannu- ally. How much will the CDs be worth in 8 years? 5. Jerry would like to purchase a new car in 4 years. He deposits $3,500 in an account that pays 7% per year compounded monthly. How much will he have towards the purchase of the car in 4 years?

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.19E

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