A credit card charge 29% p.a interest compounded daily. Assuming that you borrow $3000 on the credit card, how much will you owe after 50 days? Assume there are 365 days in the year.

Q: How much would you need to deposit in an account now in order to have $3000 in the account in 5…

A: From the provided information is  Present value=Amount*(1+rate)-period  PV=3000*(1+(0.066))-6*5…

Q: mt A = P (1+ %3D If I deposit $2,500 today in an account paying 1% interest compounded quarterly,…

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Q: A company needs $3,300,000 in 15 years in order to expand their factory. How much should the company…

A: Given :   P = 3300000 r = 4.3 % = 4.3/100  = 0.043  t = 15  Given compound weekly so  n = 52 t = 15…

Q: Finance. A person wishes to have $24,400 cash for a new car 4 years from now. How much s ccount now,…

A: INTRODUCTION: The formula for compound interest is given by, A=P1+rnnt Where P is the principal…

Q: You would like to have $900,000 when you retire in 40 years. How much should you invest each quarter…

A: Given:Amount after 40 years, A =$900,000                                 Rate, r =4.5%=0.045…

Q: Finance. A person wishes to have $20,300 cash for a new car 6 years from now. How much should be…

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Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

A: P=Principle=?t=time=5 yearsr=interest rate=6%=0.06A=final amount=$5000n=number of times compounded…

Q: E-Loan, an online lending service, recently offered 48-month auto loans at 4.8% compounded monthly…

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Q: You want to receive ​$400 at the end of every six months for 5 years. Interest is 11.8% compounded…

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Q: A company has borrowed $500,000. The loan is to be repaid in quarterly payments over 20 years.…

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Q: The Smith's borrow $45,000 to purchase a new home. They finance the amount through a 25-yr mortgage…

A: Given problems:- 1. The Smith's borrow $45.000 to purchase a new home. They finance the amount…

Q: How much would you need to deposit in an account now in order to have $3000 in the account in 15…

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Q: deposit $4000 in an account earning 2% interest compounded monthly. How much will you have in the…

A: Given that; Principal {p} = $ 4000 Rate (r) = 2%  Time = 10 years By using the compound interest…

Q: 10. A passbook savings account has a rate of 6%. Find the effective annual yield, rounded to the…

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Q: How much interest is earned in 5 years on P50,000 deposited in a bank paying 3% interest per annum,…

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Q: You deposit $4000 in an account earning 7% interest compounded monthly. How much will you have in…

A: Given that P =4000 r = 7% = 0.07 t = number of years = 15 n= number of compounding =12

Q: you deposit money into an account paying 9% annual interest compounded monthly you need the account…

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Q: The Omega Venture Group needs to borrow to finance a project. Repayment of the loan involves…

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Q: How much would you need to deposit in an account now in order to have $4,000.00 in the account in 8…

A: How much would you need to deposit in an account now in order to have $4,000.00 in the account in 8…

Q: How much must be deposited in an account to have annual withdrawals of $ 1500 forever? Interest is…

A: To find - How much must be deposited in an account to have annual withdrawals of $ 1500 forever?…

Q: How much is P1,200 worth at the end of 1 year if the interest rate of 5.5% is compounded quarterly?…

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Q: An investment of P2,850 is made at the beginning of each month for 6 years and 7 months. How much…

A: Given that investment of P=2850 per month  for time T=6 years and 7 months= 79 months rate of…

Q: An account has an annual compound interest rate of 4% a year. How much should be deposited to have…

A: Annual Compound Interest Rate is 4% per year t=30 years Amount after 30 years is 200,000 $

Q: Down Payment To start a new business, Beth deposits $1000 at the end of each 6-month period in…

A: Given: Deposits at 6 month period=$1000Rate of interest compounded semiannualy=8%Total time period=8…

Q: Finance. A person wishes to have $23,900 cash for a new car 3 years from now. How much should be…

A: 1 year consists of 52 weeks. So, the interest will be compounded 52 times annually. The formula for…

Q: You borrow $10,000 from a bank for three years at an annual interest rate of 12% compounded…

A: Based on the formula of compound interest, A = P (1 + r/n)^(n*t) A = Total Sum P = Principle value r…

Q: A loan is paid off in 5 years with a monthly payment of $125 and an interest rate of 4.1% compounded…

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Q: Finance. A person wishes to have $16,800 cash for a new car 6 years from now. How much should be…

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Q: You deposit $5000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given: The principal amount is P = $ 5000. Rate of interest is r = 5%. The number of times the…

Q: A loan of $5000 is paid off with payment of $532.76 made at the end of each six month period for six…

A: NOTE: Refresh your page if you can't see any equations. . here we have  PMT=532.76 n=2 for…

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

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Q: a company deposited an amount of P1,200 monthly in an account invested at 3% compounded monthly to…

A: Given that: Amount deposited monthly is P 1200 Rate of interest compounded monthly is:…

Q: b) Suppose $50 is placed in a savings account at the end of each month for four years, If no further…

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Q: How much would you need to deposit in an account now in order to have $2000 in the account in 15…

A: P=Principle=?t=time=15 yearsr=interest rate=8%=0.08A=final amount=$2000n=number of times compounded…

Q: You deposit $4000 in an account earning 2% interest compounded monthly. How much will you have in…

A: From the provided information FV=P*((1+r)n-1r)FV=4000*((1-0.02)5-10.02)FV=20816

Q: Ali Williams invests a $25,000 inheritance in a fundpaying 5.5% per year compounded continuously.…

A: Given, Ali Williams invests $25,000 Rate of interest Compounded continuously=5.5% per year

Q: A corportation creates a sinking fund in order to have $550,000 to replace some machinery in 12…

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Q: You deposit $1100 in an account with 4% annual compound interest. Complete the following, assuming…

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Q: Recently, More Money 4U offered an annuity that pays 5.1% compounded monthly. If $2,307 is deposited…

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Q: You borrow $450,000 from a bank to buy a house, at a rate of 2.25%, for 30 years. How much will your…

A: In the given problem,  P=450,000 $r=2.25% compounded monthlyt=30 years Here, interest is compounded…

Q: Ned deposits $15,000 in a certificate of deposit.  The annual rate is 9% and will be compounded…

A: We know the compound interest formula:A=P1+rnntWhere A=final amount          P=Principle amount…

Q: An investment of P50,000 is made at the beginning of each month for 5 years. How much will the…

A: Topic:- future value

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 15…

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Q: Es A loan of $15,000 is made at 8% interest, compounded annually. After how many years will the…

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Q: A student opens a credit card and immediately maxes it out by putting $500 on it in order to pay for…

A: amount deposit = $500 interest rate = 25.99% compounded monthly time =12 months

Q: A loan $43,000 of is made at interest 5%, compounded annually. After how many years will the amount…

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Q: How much would you need to deposit in an account now in order to have $4000 in the account in 10…

A: This question is based on Compound interest.

Q: You want to have a $60,000 college fund in 12 years. How much will you have to deposit now in an…

A: The compound interest is A=P1+rnnt. Given that,  the total amount is  A=$60,000, the number of years…

Q: What is the amount of money (P) that must be deposited in an account that pays 1% annual interest,…

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