Q: A man pays his debt in the following manner: P521 after 1 yr. and decreases P100 every year up to 6…
A: The present value is the value of the sum received at time 0 or the current period. It is the value…
Q: Find the future value of $3,670 borrowed at 3 1/4% simple interest for 11 years rounded to nearest…
A: Simple Interest is the easiest method to calculate interest. In this the interest amount remains the…
Q: Find the compound amount and the amount of interest earned by the following deposit. $4,000 at 7.87%…
A: An interest is referred as an amount from the borrower or the deposit taking banks or the financial…
Q: The principal amount is P7000 at 6% compounded bi-monthly. Compute for the interest after 9 years.
A: Total interest rate for 9 years= (1+r/n)t*n -1 Where, r = rate of interest = 0.06 n = number of…
Q: At what effective annual rate of interest i will a payment of $7,000 accumulate to $8,179.57 in 4…
A: An effective annual rate is defined as the rate of an interest, which is actually earned on…
Q: What is the present value of $1,150 deposited at the end of each quarter year for 12 years earning…
A: Calculation of Present Value:The present value is $38,124.16.Excel Spreadsheet:
Q: Debby Robinson borrows $10,000 to be repaid over 10 years with equal annual payments at 9%.…
A: A loan amortization schedule is the schedule of repayment of a loan with a bifurcation of interest…
Q: What is the present value of $6.00 (six dollars) deposited at the end of each week for 6 years…
A: Given details are : Deposit at end of each week = $6 Time period = 6 years Interest rate = 7.5% We…
Q: Find the amount and interest of 12,000 for 6 years at 18% compounded.
A: Money invested in a financial instrument or savings account grows at the given interest rate for a…
Q: Calculate the amount of simple interest earned. $1,000 at 4% for 7 years
A: A method of computing interest amounts in which the compounding effect was not considered by the…
Q: Determine the interest earned after 10 years if $200 is invested in each of the following accounts:…
A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…
Q: Suppose that $80,000 is invested at 7% interest. Find the amount money in the account after 5 years…
A: The given problem can be solved using FV function in excel. FV function computes amount value in…
Q: Calculate the amount accumulated after three years at compound interest in the following cases. …
A: Amount(A) = (P)Principal (1+rn)nt Answer 1. 500 deposited at 10% p.a. Amount = 500(1+0.11)3 =…
Q: determine the annual rate of simple interest required for 17,000 to earn 850 in 14 years
A: The simple interest rate is one of the simplest methods of calculating the interest against the…
Q: Solve for the compound interest earned if 10,000 pesos is invested for 1-1/2 years at 8% compounded…
A: Compound interest refers to the interest calculation mechanism where the previous period interest is…
Q: Julie deposited 10,000 in each of Bank 1 and Bank 2. Bank 1 credits simple interest at an annual…
A: Here, Bank 1: Deposit amount (PV) = 10,000 Interest rate for first 5 years = 10% Interest rate for…
Q: Find the amount of interest on a loan of $4,000 at 12 % interest, for 8 years. 2
A: Calculation of amount of interest: Answer: Simple interest is $4,000 Compound interest is $6,263.14
Q: Sam deposited $900 at the end of every month into an RRSP for 7 years. The interest rate earned was…
A: Here, Monthly Deposit is $900 Interest Rate for first 4 years is 4.50% compounding Semi Annually…
Q: Can you please show me how we get the number, 1.242381 In this sum , A = $ 2,500 P = ? Time =…
A: Below is the extended calculation for better understanding: A=P×…
Q: You have $1,500 to invest today at 7% interest compounded annually. a. Find how much you will have…
A: We need to use compounding interest formula to solve this problem A=P(1+i)n Where A= Accumulated…
Q: Suppose that $290,000.00 is owed on a house. The monthly payment for principal and interest at 8.0%…
A: The amount paid by the borrower on the amount owed is regarded as interest rate.
Q: Find the amount at the end of 2 years if $1,000 was invested at 5% simple interest; 5% compounded…
A: The term time value of money refers to the value of the money in the future of which the investment…
Q: Find the interest and amount on Php 880 at 8.5% simple interest for 3 years.
A: Simple interest: Simple interest is calculated on the loan principle or the initial deposit in a…
Q: essman invested $ 1,000 and after 4 years, it becomes $ 1,608.44 invested at a certain interest…
A: The given problem can be solved using RATE and EFFECT function in excel. RATE function computes…
Q: Principal is $32,000 Interest Rate is 7% Time is 3 years Total Amount Owed (includes…
A: Interest expense = Principal* Rate* Time
Q: 3. Rey borrowed P 40,000 at 12 % compounded semiannually. He agreed to pay the lender semiannually a…
A: When a lender gives the money he will charge interest as returns. Semiannual interest payment means…
Q: What is $40,000 at 5% compound interest for 3 years
A: Principal = $40,000 Interest = 5% Number of years = 3
Q: Mohammed deposited RO25,000 in a savings account at 9% interest compounded semi-annually. At the…
A: Future Value = Present Value * (1+r)^nWhere,r = rate of interest per periodn = no. of compounding…
Q: What is the future value of $7,200 deposited at the beginning of each year for 7 years earning 8%…
A: Calculation of Future Value:The future value is $69,383.72.Excel Spreadsheet:
Q: Calculate the amount of simple interest earned. $1,000 at 6% for 8 years
A: Simple Interest = Principal * Interest rate * Years
Q: Determine the amount of interest earned on a $1200 investment if it is invested at 5.5% annual…
A: The question is based on the concept to calculate the future value of an investment for a given rate…
Q: A nominal interest of 3% compounded continuously is given on the account. What is the accumulated…
A: In Continuous compounding, compounding is done an infinite number of times.
Q: The value of the account after 10 years is: -$ 31,874.85 $ 114,549.99 - $ 114,549.99 $31,874.85
A: Information Provided: Annual deposits = $2000 Interest rate = 10.00% compounded annually Years = 10…
Q: A principal, $30, is invested at 6% interest for 2 years. Determine the future value if the interest…
A: Future value is the worth of any asset or any sum of money at a future date when such asset or…
Q: Ted Williams made deposits of $500 at the end of each year for eight years. The rate is 8%…
A: Annual deposit (P) = $500 Interest rate (r) = 8% Period (n) = 8 Years
Q: Lesiba invests an amount of money in an a ount earning 13,88% interest per year, ompounded weekly.…
A: Amount invested = Future value * PVIF ( Weekly rate, Number of weeks )
Q: How much must be deposited at 6% each year beginning on January 1, year 1, in order to accumulate…
A: This is the question related to compound interest and Future Amount. We use Principal , Interest and…
Q: 2. When invested at an annual interest rate of 7%, the amount earned ₱11,200.00 of simple interest…
A: Interest means the extra amount which we received because of investment made and will be paid in…
Q: est and amount
A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…
Q: Albert borrowed $50,000 from a bank at 12 percent semiannually compounded interest to be repaid in…
A: Saving account charges compound interest on its deposits. Compound interest is referred as the…
Q: Find the value at the end of 2 years (n = 2) of Fred Moreno’s $100 deposit (PV = $100) in an account…
A: The present value is the value of the sum received at time 0 or the current period. It is the value…
Q: Mr. Young borrowed some money from a bank that offers an interest rate of 12% compounded monthly.…
A: Here, Monthly Payment of Loan is 11,122.22Php Interest Rate of Loan (r) is 12% Time Period of Loan…
Q: Find the final amount of money in an account if $4,900 is deposited at 4.5% interest compounded…
A: Compounding is a technique through which FV of present amount is computed by using appropriate rate…
Q: FIND THE AMOUNT OF 12,000 AFTER 2 YEARS COMPOUNDED ANNUALLY, THE RATE OF INTEREST BEING 5 DURING THE…
A:
Q: A savings account pays 5% annual interest. Calculate the amount in the savings account if you invest…
A: FV = PV (1 + r)n where, FV = Future ValuePV = Present Value,r = annual rate of interestn =…
Q: An annual payment of P14 000 is made with interest rate of 10% compounded quarterly for 16 years.…
A: The present worth concept determines the value of future cash flows. The future cash flows can be in…
Q: Find the accumulated value of ₱ 5,000.00 in 3 ¼ years if it is invested at 15% compounded…
A: Accumulated value = P*(1+r/m)t*m Where P - Present value = P5,000.00 r - Interest rate = 15% m -…
Q: 5. Determine the accumulated amount of an annuity consisting of 6 payments of P120, 000 each, the…
A: Annuity Amount (PMT) is P120,000 No. of Payments (n) is 6 Interest Rate (r) is 15% Annuity Type is…
Calculate the amount of simple interest earned.
$
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions Kristen Quinn makes equal deposits of $500 semiannually for 4 years. Required: What is the future value at 8%? (Note: Round answers to two decimal places.)Future Value Hugh Colson deposited 20,000 in a special savings account that provides for interest at the annual rate of 12% compounded semiannually if the deposit is maintained for 4 years. Required: Calculate the balance of the savings account at the end of the 4-year period.
- Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.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. $132,600Calculate the amount of simple interest earned. $1,000 at 4% for 6 years LA
- Find the amount and interest of 12,000 for 6 years at 18% compounded.Determine the interest earned after 8 years if $3000 is invested in each of the following accounts. A) an account earning 5.29% interest compounded daily B) an account earning 5.14% simple interestHow much interest is earned in 4 years on P8,000.00 deposited in an account paying 6% interest, compounded semi-annually.
- FIND THE AMOUNT OF 12,000 AFTER 2 YEARS COMPOUNDED ANNUALLY, THE RATE OF INTEREST BEING 5 DURING THE FIRST YEAR AND 6% DURING THE SECOND YEAR. FIND THE COMPOUND INTEREST.Find the amount at the end of 2 years if $1,000 was invested at 5% simple interest; 5% compounded quarterly and 5% compounded monthlyDeposit $10,000 in account with 7% annual interest compounded monthly. What is the balance after 3 years