8. An amount of P 5000 is deposited in a bank paying an annual interest rate of 3.1% compoundedcantinuously. Find the balance after 3 yeatsAP8754.31B. P 4857.31C.P 7584 31

The future value is the amount that will be received at the end of a certain period. In simple…

Answered: 8. An amount of P 5000 is deposited iin…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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EFFECTIVE VERSUS NOMINAL INTEREST RATES Bank A pays 4% interest compounded annually on deposits, while Bank B pays 35% compounded daily. a. Based on the EAR (or EFF%), which hank should you use? b. Could your choice of banks be influenced by the fact that you might want to withdraw your funds during the year as opposed to at the end of the year? Assume that your funds must be left on deposit during an entire compounding period in order to receive any interest.
Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600
Proceeds from notes payable On January 26, Nyree Co. borrowed cash from Conrad Bank by issuing a 45-day note with a face amount of 150,000. A. Determine the proceeds of the note, assuming the note carries an interest rate of 10%. B. Determine the proceeds of the note, assuming the note is discounted at 10%.
If the interest that 6000 TL will bring in 3 months over 21% interest rate is brought by the same amount of money deposited in another bank for 7 months, what is the interest rate applied by the second bank?A) 5B) 8C) 10D) 3E) 9
Assuming a 360-day year, the interest charged by the bank, at the rate of 7%, on a 90-day, discounted note payable of $115,133 is a. $115,133 b. $8,059 c. $4,030 d. $2,015
You deposit $100, $150, & $200 in a bank account at the end of years 1,2,& 3 and earn 7%interest. If (P/G, 7%, 3)=2.506 and (A/P, 7%, 3)=.3811 what is the present value (now) ofthese deposits.
9. A bank loan of P 2,000.00 was made at 8% simple interest. How long would it take in years for the amount of the loan and interest to be equal to P 3,280.00?
4- Bank America offers a stated annual interest rate of 5.0 percent, compounded quarterly, whileBank USA offers a stated annual interest rate of 5.10 percent, compounded monthly. In whchbank should you deposit your money?
I7 The bank is offering to sell 6-month certificates of deposit for $9800. At the end of 6 months, the bank will pay $10,000 to the certificate owner. Compute the nominal annual interest rate can you explain how we get the value m=2 in the nominal annual interest rate i=r/m
4. A 90-day promissory note was discounted at a rate of 8.5% and the bank proceed received was RM12,000.Compute the maturity value of the note using the Banker's Rule. (RM12260.50)
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Assuming a 360-day year, the interest charged by the bank, at the rate of 7%, on a 90-day, discounted note payable of $124,800 is ______ .Round your answer to the nearest whole dollar. a.$2,184 b.$8,736 c.$4,368 d.$124,800

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8. An amount of P 5000 is deposited iin a bank paying an annual interest rate of 3.1% compounded continuously Find the balance after 3 yeats AP8754.31 B. P485731 CP 7584 31