6.At 6.5 percent interest, how long does it take to double your money? To quadruple it?Solve this problem using the method we discussed in classonly
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6.At 6.5 percent interest, how long does it take to double your money? To quadruple it?Solve this problem using the method we discussed in classonly
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- PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS3.- Andres Rosas wants to know how much he must deposit today, so that in 5 years he will have the amount (FV) of 88,180.00, which he needs to pay for a trip, a) if the account pays 6.125% interest compoundable semiannually; b) if the account pays 7.65% compoundable monthly. The formula must be cleared to find the initial value (PV). Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel. TO CONSIDER THE YEAR AS 360 DAYS (WHICH IS COMMERCIAL) (only if required)I need help solving the problem below in excel You can put your money in an account that earns 10.0% compounded annually or in a bank account that earns 9.75%, compounded daily? Which account should you choose?Would you rather have a savings account that pays 5% interest compounded semiannually or one that pays interest compounded daily? Show in excel to understand the calculation
- You are explaining time value of money factors to your friend. Which factor would you explain as being larger? A. The future value of $1 for 12 periods at 6% is larger. B. The present value of $1 for 12 periods at 6% is larger. C. Neither one is larger because they are equal. D. There is not enough information given to answer this question.For TVM calculator: Write each known variable’s value as it appears in the calculator and use a question mark for the missing variable. Then, in the space provided write the missing variable’s value, as it appears in the calculator. Finally, write your final answer in context, with units, as a complete sentence. Herman is looking to invest $5,000 in an account that earns 3.7% annual interest compounded semi-annually. If Herman plans to regularly deposit semi-annual payments of $1,575 into the account, how much is the account worth after 30 years? N=60 I= 3.7 PV=5000 PMT= 1575 FV= ? P/Y=2 C/Y=2 Missing Variable Value __________________ Context Sentence:You have saved $22,000 for a down payment on a house. Your bank requires a minimum down payment of 11%. What is the maximum price you can offer for a home in order to have enough money for the down payment? (Round your answer to two decimal places.)
- My previous question was rejected so I will create one similar. If I put $5,000 in a savings account at an APR of 5% compound monthly interest gained, what would the interest earned and the new balance be? $5,000×.05%= $250 interest per month earned $5,000+$250= $5,250 new balance On other equations similar, my answers are incorrect but I don't understand what I am missing?Suppose that you are planning to buy a boat in in 28 years [cell B3] for $100,000 [cell B2], and you deposit into your account the amount of $26,000 CAD [cell B1]. (a) What average annually compounding rate of return (as a percentage, correct to 2 decimals) should you earn so you can accumulate the lump sum needed to achieve your goal [cell B5]? Use the RATE function.(Note: You might have to modify the format of cell B5 so that it shows 2 decimals.) (b) What is the correct formula (using 18 characters or less) that should be placed in cell B5?Note: There are to be NO numbers in the function call (apart from a 0 if appropriate), only cell references, or negative cell references where appropriate. In excel pls.If you want to have $25,000 saved in 5 years and it earns an interest rate of 3.5% compounded monthly, what is the amount you need to save each month? Find the payment. Do not enter the negative sign from your calculator (if there is one) or the dollar sign. Round to two decimal places.
- (Ignore income taxes in this problem.) At an interest rate of 5%, approximately how much would you need to invest today if you wanted to have $500,000 in 6 years? Do not use dollar or percentage signs. If the answer is a negative number, enter with a minus sign in front. Please solve and show workJeff has $12,160 in his savings account and wants this to accumulate to $60,000 for a condominium down payment. Suppose he plans to make deposits of $860 at the beginning of every three months into this account which earns 5.9% compounded monthly. How long will it take to accumulate the $60,000 ? Choose calculator mode: Enter the future value as a positive value in the FV box below. Enter PV and PMT as positive or negative values based on FV being positive. Report N as a whole number. Please answer fast I give you upvoteYou are currently investing your money in a bank account which has a nominal annual rate of 7 percent, compounded monthly. How many years will it take for you to double your money? m Nper (or N) =n*m Rate (or I/Y)=i/m PV PMT FV Must identify variables and use excel