An investment of $3523 is made at the beginning of each month for 5 years and 10 months. How much will the investment be at end of the term, if interest is 1% compounded monthly? the Round your answer to 2 decimal places.
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- What is the present equivalent of a uniform series of quarterly payments of $4,500 each for 8 years and a quarterly payments $2,000 of the next 5 years if the interest rate is 8% compounded bimonthly? Note: Round off your interest rate to five decimal places Round your answer to 2 decimal places.If you want to buy a car in two years that cost $20,000.00, how much should put away every month if you can get a six percent nominal annual interest rate-compounded monthly?A series of equal quarterly payments of $2,000 for 10 years is equivalent to what future lump-sum amount at the end of 20 years at an interest rate of 6% compounded continuously?
- Find the present value (in dollars) of an annuity that pays $7,000 at the end of each 6-month period for 7 years if the interest rate is 6% compounded semiannually. (Round your answer to two decimal places.) $You were entitled to receive $5,000 at the end of six months for the rest of your life. If the interest rate is 10% compounded monthly, what is the present value of perpetuity? can someone explain how come the answer is 97,936.84?P863,171 is placed in an account at 3.66% compounded quarterly for 7 years. How much is in the account at the end of the term?Write your answer in two decimal places.
- What is the future value of $3,000 saved for 6 years at 4% interest compounded annually? Enter your answer rounded to two decimal places.1) A child’s grandparents have opened a ₱586702 savings account for the child on the day of her birth. The account pays 1.7% compounded semiannually. The child will be allowed to withdraw the money when she reaches the age of 21. What will the account be worth at that time? Round your answer to 2 decimal places. 2) What simple interest rate (in %) is equivalent to 6.5% compounded quarterly if money is invested for 8 years? Round your answer to 2 decimal places.A person needs $19,000 immediately as a down payment on a new home. Suppose that she can borrow this money from her company credit union. She will be required to repay the loan in equal payments made every six months over the next 12 years. The annual interest rate being charged is 8% compounded continuously. What is the amount of each payment? The amount of each payment is?
- Suppose a man purchases a luxury car with an initial down payment of $20,000 and then makes quarterly payments: $2000 at the each of each quarter for six years and $3500 at the end of each quarter for eight more years. Given an interest rate of 6% compounded quarterly, find the present value of the payments and the list price of the luxury car.How much do eight ₱ 76,990 quarterly payments amount at present, if the interest rate is 3 compounded quarterly?what is the future of P600 deposited at the end of every month for 4 years if the interest rate is 12% compounded quarterly? (Upto 4 decimal places)