Answer the following as indicated. (Format: problem, then, solution) 4. Find the present value of P300,000, due at the end of 2 years if the money is worth 8% compounded annually.
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- Topic: Gradient Geometric What is the amount of 10 equal annual deposits that can provide five annual withdrawals, when a first withdrawal of $29695 is made at the end of year 11, and subsequent withdrawals increase at the rate of 10% per year over the previous year’s, if the interest rate is 10%, compounded annually? Note: Draw the cash flow diagram and use interest rate with five decimal places.1). You are going to buy a home, and will be taking out a home loan for $275,000. The loan will be a standard 30 year loan, compounded annually, with an APR of 8%. What is annual payment.(6) A loan of $20,000 is to be repaid in uniform monthly payments over 3 years. If the interest in 9% per year compounded monthly, what is the amount of unpaid las principal after 24 monthly payments?
- Pls help with below homework. Suppose you take out a $20,000 fixed payment loan to purchase a car. The loan is to be repaid in monthly installments over a term of 6 years. If your loan is obtained at an annual nominal interest rate of 12%, and interest is compounded monthly, how much will your monthly payments be?2. What is the balance in an account at the end of 10 years if $25,000 is deposited today and the account earns 4% interest, compounded annually? quarterly?Given the situation , choose the correct formula to solve the problem: What present value amounts to $70,000 if it is invested for 8 years at 5% compounded continuously?
- ANSWER LETTER D ONLY M purchased a small lot in a subdivision, paying P200,000 down and promising to pay P15.000 every 3 months for the next 10 years. The seller figured interest at 12% compounded quarterly. (a)What was the cash price of the lot? (b) If M missed the first 12 payments , what must he pay at the time the 13th is due to bring himself up to date? (c) After making 8 payments, M wished to discharge his remaining indebtedness by a single payment at the time when the 9th regular payment was due, what must he pay in addition to the regular payment then due? (d) If M missed the first 10 payments, what must he pay when the 11th payment is due to discharge his entire indebtedness?17. What is the effective annual interest rate if the nominal interest rate is 6%, compounded monthly?! Pls answer !bartleby = 3 max questions 1. If the proceeds of P 2000 will be paid w/ P2400 at the end of 10 months, find the discount rate. 2. At certain interest rate compounded quarterly, an amount worth P8000 will be P20000 after 5 yrs. How much would it be at the end of 10 years? 3. For a deposit of $1023 at 7.8 % interest compounded continuously over 4 years, find the interest earned?
- 16. Mr John Week borrowed $ 2,400 at 1% per month payable in 24 equal end-of-the month payments. How much money of the loan remains unpaid immediately after he has paid the 12th payment?28. What is the accumulated amount of a 7-year annuity paying ₱ 1,520 at the end of each year, with interest at 2% compounded annually?Topic: Gradient Geometric A self employed individual, Jimmy Carpenter, is opening a retirement account at a bank. His goal is to accumulate P2908875 in the account by the time he retires from work in 20 years. A local bank is willing to open a retirement account that pays 10% interest compounded semiannually, throughout the 20 years. He wishes to start with a deposit at the end of the end of 1st semiannual and increase the deposit by 5% per semiannual thereafter. What should be the size of his first semiannual deposit? Note: Draw the cash flow diagram and use interest rate with five decimal places.
