Calculate the simple interest rate. (Round your answer to one decimal place.) P = $9100, I = $440, t = 1 year
Q: Calculate the simple interest rate. (Round your answer to one decimal place.) P = $2400, I = $60, t…
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Q: Calculate the simple interest rate. (Round your answer to one decimal place.) P = $2400, I = $52, t…
A: Simple Interest is calculated by multiplying the Interest rate with Principle and time.
Calculate the simple interest rate. (Round your answer to one decimal place.)
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- You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.Calculate the simple interest rate. (Round your answer to one decimal place.) P = $2400, I = $52, t = 4 months
- Suppose you deposit $ 1296 today and your account will accumulate to $ 5637 in 9 years. What is the rate of interest? Input your answer in decimals, not percentages. Round your answer to four decimals places.If the annual interest rate is 7%, what is the monthly interest rate that would be used as the "r" in the time value of money equation? Hint: the equation uses the decimal equivalent of the percent Enter your answer to four decimal places.What's the present value, when interest rates are 8.5 percent, of a $135 payment made every year forever? ( round your answer to 2 decimal places.)
- If the annual interest rate is 8%, what is the daily interest rate that would be used as the "r" in the time value of money equation? Hint: the equation uses the decimal equivalent of the percent Enter your answer to four decimal places.You will receive a cash payment of $7072 in 7 years. If the relevant interest rate is 19.89%, how much is it worth today? Round to 2 decimal places. Include dollar signs ($) and percents (%) as appropriate.What's the future value of $15,000 after 11 years if the appropriate interest rate is 10.75%, compounded annually?Round your answer to two decimal places. For example, if your answer is $345.667 enter as 345.67 and if your answer is .05718 or 5.718% enter as 5.72 in the answer box provided. A. $54,419.48 B. $53,497.11 C. $38,278.11 D. $42,889.93 E. $46,118.20
- Suppose you deposit $1,098.00 into an account 5.00 years from today. Exactly 14.00 years from today the account is worth $1,577.00. What was the account's interest rate?For each of the following cases, indicate (a) to what rate columns, and (b) to what number of periods you would refer in looking up the interest factor.1. In a future value of 1 table: Annual Rate Number of Years Invested Compounded (a) Rate of Interest (b) Number of Periods a. 11% 10 Annually % b. 8% 8 Quarterly % c. 10% 19 Semiannually % 2. In a present value of an annuity of 1 table: (Round answers to 1 decimal place, e.g. 458,58.1.) Annual Rate Number of Years Invested Number of Rents Involved Frequency of Rents (a) Rate of Interest (b) Number of Periods a. 12% 30 30 Annually % b. 11% 16 32 Semiannually % c. 12% 8 32 Quarterly %What is the present value of a 8-year ordinary annuity with annual payments of $511, evaluated at a 4 percent interest rate? Round your answer to 2 decimal places; for example 2345.25.