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Calculate the simple interest rate. (Round your answer to one decimal place.)
SIMPLE INTEREST FORMULA:
GIVEN,
I =$670
P=$4200
T=1
APPLYING FORMULA:
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- 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 = $2600, I = $78, t = 8 monthsSuppose 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.
- 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.)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
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- 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?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 is the present value of a cash payment of $1.2 that you will receive in 5.3 years if the interest rate is 6.5%? Round to 2 decimal places. Include dollar signs ($) and percents (%) as appropriate.