CBG pays 10 percent per annum simple interest on its savings account balances, GCB pays 8 percent interest compounded annually whereas DB pays 7 percent interest compounded quarterly. If you made a GHȼ5,000 deposit in each bank, how much more or less money would you earn from DB account than : i. CBG account at the end of 10 years? ii. GCB account at the end of 10 years?

Q: First City Bank pays 6% annual simple interest on its saving account balances, whereas Second City…

A: given, first bank simple interest=6%second bank compound interest =6%p=$7500n=10 years

Q: client deposits $5 million in a savings account that pays 5 percent per year compounded quarterly.…

A: The given problem can be solved using FV function in excel. FV function computes amount value in…

Q: First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City…

A: First City Bank Interest rate = 7% simple interest Second City Bank Interest rate = 7% compounded…

Q: First City Bank pays 5 percent simple interest on its savings account balances, whereas Second City…

A: simple interest formula: A=p×1+rtwhere,A=amountP=principalr=ratet=time in years compound interest…

Q: . Your client deposits $5 million in a savings account that pays 5 percent per year compounded…

A: Following is the answer to the question

Q: First City Bank pays 7.5 percent simple interest on its savings account balances, whereas Second…

A: First City Bank  Interest Rate = 7.5% Simple Interest Rate   Second City Bank Interest Rate = 7.5%…

Q: A bank is offering 10% compounded quarterly. If you put $200 in an account, how much will you have…

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Q: A bank that provides overdraft protection charges 12 percent for each $100 (or portion of $100)…

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Q: A man loan an amount of P 100,000_at a commercial bank at 10% compounded_annually. How much is his…

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Q: 1. First City Bank pays 7 percent simple interest on its savings account balances, where Second City…

A: 1) Simple interest rate of First City Bank (r) = 7% Compound interest rate of Second City Bank (i) =…

Q: If P25, 000 is deposited now into a savings account that earns 6% per year, what uniform annual…

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Q: 3. You have a bank deposit now worth $5000. How long will it take for your deposit to be worth more…

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Q: Second Union Bank pays 5 percent simple interest on its savings account balances, whereas Third…

A: In simple interest there is no interest on interest only simple interest is considered.

Q: Lidia deposits $700 at the END of each year for 8 years in a savings account. The account pays 12%…

A: In finance, the term annuity represents a stream of cash flows that contain an equivalent periodic…

Q: If P30,000.00 is deposited each year for 10 years, how much annuity can a person get annually from…

A: Amount deposited each year for 10 years is P30,000 Cost of monry is 14% Total number of withdrawals…

Q: 1. A man deposit 50, 000 in a bank account at 6% compounded monthly for 5 years. If the inflation…

A:

Q: First City Bank pays 8 percent simple interest on its savings account balances, whereas Second City…

A: Simple interest = Principal * Rate * time

Q: A bank offers an investment account that has an annual interst rate of 9.9%, compounded quarterly.…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: First Simple Bank pays 6.4 percent simple interest on its investment accounts. If First Complex Bank…

A: Given information: Simple interest rate (r) : 6.4% Time horizon = 10 years

Q: Spartan Credit Bank is offering 6.2 percent compounded daily on its savings accounts. You deposit…

A: Annual interest rate = 6.2% Number of compounding per year = 365 Deposit amount = $ 4600

Q: If P10,000.00 is deposited each year for 9 years, how much annuity can a person get annually from…

A: First we need to calculate future value of annuity for 9 years by using this equation FV of annuity…

Q: You have $5,000 to deposit. Regency Bank offers 15 percent per year compounded monthly (1.25 percent…

A: Data given:: Amount = $5000 Regency Bank offers = 15% compounded monthly (15%/12 = 1.25%) King Bank…

Q: stomer wishes to have an amount of R300 000 at the end of 10 years. The bank pays an interest rate…

A: The given problem can be solved using PV function in excel. PV function computes present worth for…

Q: Bank pays 5 percent simple interest on its saving account, whereas Collar Bank pays 5 percent…

A: Simple interest is the interest on principal amount and no interest on interest but in the…

Q: Banco Filipino is offering 0.8 percent compounded daily on its savings accounts. If you deposit…

A:

Q: Browns Bank pays 8 percent simple interest on its savings account balances, whereas Raiders Bank…

A: 1) Browns bank interest rate (r) = 8% simple interest Raiders bank interest rate (i) = 8% compound…

Q: If you deposit $25,000 per year for 13 years (each deposit is made at the end of each year) in an…

A: The question is based on the concept time value of money. The future value is defined as the value…

Q: Bank A pays 6% simple interest annually on its investment accounts. If Bank B pays interest on its…

A: Bank A: Simple Interest Rate (r) = 6% or 0.06 (Annually)Time Period (t) = 10 years…

Q: Taki deposits P50,000 in a bank account at 6% compounded monthly for 5 years. If the inflation rate…

A: The question is related to the Future worth. The details are given. First interest rate will be…

Q: 1. Simple Interest versus Compound Interest First City Bank pays 7 percent simple interest on its…

A: First city bank simple interest rate (i) = 7% Second city bank compound interest (r) = 7% Deposit…

Q: Your local bank offers 4-year certificates of deposit (CD) at a 12 percent annual nominal interest…

A: Future Value: The future value is the value of annuity or the sum lump amount after a certain period…

Q: 15. You deposit $8,000 in a bank account today. You make another deposit of $14,000 into the account…

A: Today's deposit = $8,000 Deposit in year 1 = $14,000 Deposit in year 2 = $10,000 Interest rate = 8%…

Q: First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City…

A: Amount deposited (PV) in the Second City Bank is $66,000 Number of years (n) of deposit is 10 years…

Q: First simple bank pays 6.4 percent simple interest on its investment accounts. If first complex bank…

A: The amount of investment is assumed as $100 First simple bank:

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A: Interest to be calculated should be on the amount of certificate of despising at which it was…

Q: A bank makes a 30 year Fully Amortizing FRM for $2,000,000 at an annual interest rate of 4.125%…

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Q: If P30,000 is deposited each year for 9 years. How much annuity can a person get annually from the…

A: An annuity refers to a fixed amount or stream of payments or deposits made. Therefore, it helps in…

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Q: k. Five banks offer nominal rates of 9% on deposits, but A pays interest annually, B pays…

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Q: Bank A pays 8% simple interest on its savings account balances. Bank B pays 7% interest compounded…

A: Present value is the sum of money that must be invested in order to achieve a specific future goal.…

Q: ffering MACY’S has a six-year term deposit that will pay 7% per annum compounded quarterly.  If…

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Q: A banks lends a customer OMR 6,000. At the end of 9 years he repays this amount plus interest. The…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: An Initial payment of $6,000 is deposited into a bank with a nominal annual interest rate of 9.5%,…

A: Periodic withdrawal is calculated by present value of annuity formula. Present value of annuity…

Q: 1. Simple Interest versus Compound Interest. First City Bank pays 8 percent simple interest on its…

A: Interest is an additional amount which is earn by investor by investing his money. Interest is…

Q: You put $1,000 into a savings account today that offers a 5% APR with semi-annual compounding (i.e.,…

A: Effective annualized rate informs the rate effectively (considering the impact of compounding…

Q: A bank loan of P6,000,000 charged at 9.65% pa compounded quarterly , is to be paid in 10 equal…

A: An annuity is a series of equivalent periodic cash flows for a specific duration. Each cash flow…