a. Allison plans to invest RM1000 at 8% interest compounded monthly. How long would it Allison before her account grew to be RM12000? b. Murad wants to deposit RM950 on his birthday and plans to do it on an annual basis. Today is Murad's 25th birthday. Murad's account is earning 6.5% interest compounded semiannually. How much will be in the account on his 55th birthday? c. Mr. Henry is purchasing an apartment that cost RM 475,000. The bank is offering 90% loan on the property, with an interest of 3.95% for 30 years. Calculate Mr. Henry's monthly payment.

Q: You deposit $5000 each year into an account earning 3% interest compounded annually. How much will…

A:

Q: Luis has $160,000 in his retirement account at his present company. Because he is assuming a…

A: Given: Amount in retirement account = $160,000 Annual payment = $2,000 Years =22 Interest rate = 8%

Q: Chester hopes to earn $1200 in interest in 2.5years time from $60,000 that he has available to…

A: The annual interest rate that is charged by the lenders or at which the investors earn additional…

Q: 1. Manda Bamkeng deposits Php 50,000 every beginning of the month for 4 years with 2% compounded…

A: Note: As per the rules of Bartleby,in case of multiple unspecified questions only the first question…

Q: A young man has decided to go into business at the age 40. He wishes to accumulate P 200,000.00 at…

A: Future Value = 200,000 Current Value invested = x Deposit will increase each year by 10% Rate = 9.6%…

Q: money should he have

A: A retirement plan refers to the financial strategies of saving, investments, or distributing money…

Q: To supplement your planned retirement, you estimate that you need to accumulate R 220, 000 in 42…

A: Formulas: Future value = Annual payment *((1+rate)^years-1)/Rate

Q: Mark deposits $50,000 now into an account which will eam interest at a rate of 7% per year, how much…

A: Present value = $50,000 Interest rate = 7% Number of years = 4

Q: Mr. Santos will deposit P10, 000 at the ABC bank at the end of each quarter for 2 years. If the bank…

A: Future value of an annuity can be computed by compounding each amount by using an appropriate…

Q: e). In which account will he have more money and by how much?

A: Regular annuity: Number of periods = 32 * 4 = 128 Quarterly rate = 7.3% / 4 = 1.825% Future value =…

Q: b._ You want to have GH¢ 50,000 in your savings account five years from now, and you’re prepared to…

A: Future value of annuity = P * ([1 + I]N - 1 )/I where P is the payment amount. I is equal to the…

Q: 2. Joan contributes $4000, AT THE BEGINNING of each quarter, for 10 years to an account that earns…

A: Here, Quarterly Contribution is $4,000 Time Duration for Contribution is 10 years Interest Rate is…

Q: Assume you deposit $5,900 at the end of each year into an account paying 11.75 percent interest.…

A: Annual deposit (P) = $ 5900 Annual interest rate (r) = 11.75%

Q: How much should you deposit at the end of each month into an investment account that pays 9%…

A: As per Bartleby Guidelines, we are allowed to do only one question if multiple different questions…

Q: Mr. Lau is updating his estate plan for himself and his family. He would like to provide an income…

A: Life insurance provides financial coverage provided by insurance companies after the death of…

Q: how much money will be in the account? How much of it is interest?

A: Annuity payments are the fixed periodic payments that an investor or depositor makes into an…

Q: Luis has $170,000 in his retirement account at his present company. Because he is assuming a…

A: This account works as a combination of two separate account: fixed principal of $170,000 compounded…

Q: Art wants to know how much he'll have to invest today to receive an annuity of $8,000 for three…

A: The computation of amount of investment is as follows:The investment needed today is the present…

Q: Mike Gordon wishes to have $80,000 in five years. If he can earn annual interest of 2%, how much…

A: Amount need to invest today = Amount required at the end of 5th year x PVIF (2%, 5 years)

Q: You would Ilike to have $59,000 in 5 years for the down payment on a new house following graduation…

A: Note: No intermediate rounding is done, only the answer is rounded off to nearest whole number.a)…

Q: Ms. Perez wants to invest in a savings account with interest rate of 9% per year. She decided to…

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

Q: Suppose that a man lends $1600 for 4.3 years at 12% per year simple interest. At the end of the 4.3…

A: Simple Interest  Simple interest refers to the amount of interest that is calculated on the…

Q: Mr Ramos wants to accumulate Php100,000 in 5 years. He wants to deposit a regular amount at the end…

A: Given, The amount to be accumulated is Php 100,000 Number of years is 5 years Rate is 12%

Q: How much does Steve need to invest today, If he wants to have $50,000 in 15 years? He opens an…

A: Present Value = Future Value / (1+r)^n Where, r = rate of return per period i.e. 7.8%/12 = 0.65% or…

Q: Joella invested RM5,000 in an interest-bearing promissory note earning an 8% annual rate of interest…

A: Following is the answer to the question

Q: ou deposit $300 in an account earning 6% interest compounded annually. How much will you have in the…

A: Amount Deposited = $300 Interest Rate(r) =6% Years(N) =10

Q: Suppose you deposit shs 5,000,000 into an account earning 4 percent interest, compounded monthly. a)…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Q: Steven plans to contribute $300 to his "super unrealistically high" savings account at the end of…

A: Here,

Q: Moses invests R3 745,35 at the end of each month at an interest rate of 14,5% per year, compounded…

A: An annuity is a series of cash flows that involve fixed payments at equal time intervals over a…

Q: Assume you deposit $5700 at the end of each year into an account paying 11.25 percent interest.…

A: Given: Deposit = $5,700 Interest rate = 11.25% Future value= ?

Q: You would like to have $550,000 when you retire in 40 years. How much should you invest each quarter…

A: Required Amount at retirement is $550,000 Time period is 40 years Interest rate is 6.4% Compounded…

Q: You deposit $1000 each year into an account earning 4% interest compounded annually. How much will…

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

Q: You would like to have $1,000,000 when you retire in 40 years. How much should you invest each…

A: Given:

Q: If Ms Chan is thinking of putting RM10,000 into the saving accounts at the end of each year for 10…

A: Annual deposits (PMT) are $10,000. The rate of interest (Rate) is 8%. The maturity (Nper) is 10…

Q: You would like to have $650,000 when you retire in 40 years. How much should you invest each quarter…

A: a. GIVEN, future value (FVA) = $650,000 n = 40 m =4 rate of interest (r) = 3.6% applying the formula…

Q: To pay for your child's education, you wish to have accumulated P15,000 at the end of 15 years. To…

A: Future value (F) = P15,000 Time period (n) = 15 years Rate of interest = 6% (compounded annually)

Q: You deposit $3000 each year into an account earning 2% interest compounded annually. How much will…

A: Annual deposit (P) = $ 3000 Annual interest rate(R) = 2% Period (N) = 35 Years

Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much will…

A: Monthly deposit (P) = $ 100 Interest rate = 8% Monthly interest rate (r) = 8%/12 =…

Q: You want to have GH¢ 50,000 in your savings account five years from now, and you’re prepared to make…

A: In the given problem we need to find the Annual Deposit amount for 5 years which cumulates @9.5% to…

Q: 1.) Miller likes to invest in annuity that will pay him Php. 5000 at the end of each month for 5…

A: Note : As per the guidelines, only first question will be answered. Kindly post the second question…

Q: An investor deposits $100 into his credit union account that pays interest at the rate of 3.25% per…

A: Future Value = Present Value * (1+interest %)^N Future Value = 100*(1.0325)^7 Future Value =…

Q: Mr. Gordon plans to invest $600 at the end of each month in an account that pays 12%, compounded…

A: a) An ordinary annuity may be a set of identical installments paid over an indicated sum of the time…

Q: You would like to have ​$53,000 in 13 years. To accumulate this​ amount, you plan to deposit an…

A: Present value refers to the current valuation for a future sum. Investors determine the present…

Q: How much would Dave have in his account at the end of 20 years if he deposits $2,000 into the…

A: future value with continous compounding: FV=PV×ertwhere,r=interest ratet=time

Q: Matthew made the following deposits: Present – P80K, After 9 months - P50K, After 1 years the…

A: The value of equal withdrawal depend on the future value of the present deposits made.

Q: How much money will AJ have at the end of eight years? ii. Suppose AJ decided that they need to…

A: Formula for Future value Annuity F = P*[(1+i)n-1]/i where as; P = Yearly payment amount, i = Rate of…

Q: Muaz will need $130 000 in 4 years to buy a piece of property. He plans to save money by making…

A: Amount required after 4 years $1,30,000 Interest Rate (6.1% /4) 1.525% Period (4 years * 4) 16

Q: 1.) Mr. Roanito wants to put money in an account that pays 5% interest each year, compounded…

A: Hi! Thank you for the question, As per the Honor Code, we are allowed to answer one question in case…

Q: You deposit $1000 each year into an account earning 8% compound annually. A) How much will you have…

A: ordinary annuity-in which payment is end of each period. annuity due :-payment is made at beginning…

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.