Clara borrows $41,000 today at 2.9% per year compounded quarterly, to start her own buisness. she plans to repay her loan by making equal quarterly payments over 8 years. What are Clara's quarterly payments?

Q: Bryan received a loan of $42,000 from the bank at 3.25% compounded monthly. If she had to repay $350…

A: Given that: Interest rate r = 3.25% per year = 0.2708% per month Period n =3 year= 36 months…

Q: A person needs ​$18,000 immediately as a down payment on a new home. Suppose that she can borrow…

A: Continuously compounded interest rate refers to the interest rate that is calculated on the…

Q: Sammi deposits $12000 at the beginning of each 6-month period into a special savings account. This…

A: Future Value The value of a money at a future date based on an assumed rate of growth is known as…

Q: Aidan deposits $1000 at the end of each quarter in an account that pays 5.25% per year, compounded…

A: Solution: An equal amount invested every period is called annuity. So, future value of annuity = PMT…

Q: Soledad decides to have P2,100 at the end of each quarter, which is the amount paid into her…

A: Future value of annuity due = P×1+in-1×1+ii Where, P = Quarterly deposit = P2,100 i = Effective…

Q: Helen has two debts to pay; a $3500 today and a $4500 in 9months from today. How much should she pay…

A: Present Value(PV) is value of a future amount at current point of time. It is done by discounting…

Q: Nicole loans P900,000 from bank today which gives her 10% interest rate compounded annually. Based…

A: Loan amount (L) = P 900000 r = 10% n = 10 payments Let the annual payment = A

Q: Lillian took out a 20-year loan for $170,000 at 8.8% interest, compounded monthly. If her monthly…

A: A loan is a financial arrangement in which one person borrows funds from another person at a…

Q: Karen deposits 700 each month into an annuity that pays 12% annual interest at the end of each year.…

A: solution given Deposits each month (p) 700 Rate of interest (r) 12% Time period…

Q: Clara borrows $41,000 today at 2.9% per year compounded quarterly, to start her own buisness. she…

A: Given, Loan amount (p) = $41,000 Interest rate (r) = 2.9% Number of compounding periods (m) = 4…

Q: Ginny has already accumulated $15,000 in her RRSP. If she contributes $2,000 at the end of every six…

A: Annuity refers to series of equalized payments that are made at end or start of specific interval…

Q: Buhle wants to save R330 284,00 within the next four years. She makes equal monthly deposits at the…

A: given, future value = R330 284,00 r=12.5% m=12 (monthly compounding) n = 4 years

Q: When Jasmine retires she has $950,000 in a retirement account that earns 6% annual interest,…

A: Using PMT function in excel

Q: Karen deposits 300 each month into an annuity that pays 8% annual interest at the end of each year.…

A: Future value of annuity =PMT [{(1+i) n-1}/i]*(1+i) Where i=periodic interest rate n=number of…

Q: Darien invests $10,000 in an account that pays 3.2% interest per year, compounded semi-annually.…

A: The amount of money can be calculated as future value of the principal amount.

Q: Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos…

A: The annuity payments that are made at the beginning of the year are called annuity due and the ones…

Q: Alicia has $350,000 saved for retirement in an account earning 3.2% interest, compounded quarterly.…

A: Present Value of Annuity = Annuity Amount * [ {1 / ( 1 + periodic interest rate ) } + {1 / ( 1 +…

Q: Francine currently has $70,000 in her 401k account at work, and plans to contribute $5,000 each year…

A: Future value of single sum/lump sum investment and annuity payments can be calculated by using this…

Q: At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8%…

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

Q: Akbar has borrowed $48,000 today and agreed to repay it in 5 years with monthly payments at the…

A: Given information: Amount borrowed is $48,000 Interest rate is 2.60% Number of years is 5 years

Q: Ma. Nochna Pula borrowed $10,000 at 6% annual compound interest. She agreed to repay the loan with…

A: Annual payment can be calculated using the present value of annuity formula. Present value of…

Q: At an interest rate of 7 - %, Karen borrows $4,000 for 13 years. How much interest will she pay?

A: Concept: The interest is the product of principal, time period and number of years that is divided…

Q: Natalie’s RRSP is currently worth $250,000. She plans to contribute for another five years, and then…

A: Annuity refers to series of annual payment which is paid or received at start or ending of specific…

Q: Ms. C took a loan of $150,000 at a rate of 7 percent. She can pay equal installments of $25,000 at…

A: The number of years over which she can repay the loan amount can be calculated using the NPER…

Q: Sally buys a house. She has limited initial funds, so she agrees to make 360 monthly payments as…

A: Nominal interest rate: It is the rate in which the effect of inflation has not been considered.

Q: John contributes $5,000 per month into an account. How much will he have in the account after 25…

A: In the given question we require to calculate the future value of account after 25 years is john…

Q: sara wants to deposit equal payments in BDO at the end of every month so that her daughter, Duchess,…

A: Here, Withdrawal Amount on 18th Birthday is 1,000,000 pesos First deposit made after one month of…

Q: Alexandra had a balance of $2,000 in her RRSP. In addition to this, she invested $300 at the end of…

A: Given,

Q: Iris expects to receive $1,000 at the end of each of the next three years. She will deposit these…

A: Payments = 1000 Semi Annual Compounding, Time Period = 3 years * 2 = 6 semi annual periods Interest…

Q: Minu deposits $950 at the end of each quarter for 6 years in an account that earns 1.8% per year…

A: As the number of compounding period increase than the effective interest rate increases and more…

Q: Diane wants to receive annuity payments of $2500 at the beginning of each quarter for eight years.…

A: The present value of annuity refers to the current value of the future payments from the payment…

Q: Sehar has accumulated $245,000 in her retirement savings plan. When she retires in exactly 4 years…

A: Accumulated saving (A) = $245000 n = 4 years = 16 quarters r = 6% per annum = 1.5% per quarter Let…

Q: Bria has $450,000 saved for retirement in an account earning 2.4% interest, compounded weekly. How…

A: Future Value:-It is the value of an investment at a future date based on the growth rate. It helps…

Q: Angelica took out a 20-year loan for $170,000 at 5.4% interest, compounded monthly. What is her…

A: The monthly payment is determined by dividing the loan amount from the present value factor. The…

Q: if her dad deposits R3570,00  at the end of every six months for the next four years into a bank…

A: The Future Value of the annuity is the total value of all the payments which is occurred regularly…

Q: ica deposits her annual business profit into a savings account that pays 7% interest compounded…

A: Future Value refers to the value of the current asset or investment or cash flows at a specified…

Q: To help out with her retirement savings, Kaitlin invests in an ordinary annuity that earns 4.8%…

A: Rate of Interest = 4.8% Compounded Monthly Time Period(t) = 18 years  n = 12 Future Value = $97,000…

Q: a.) What is the monthly rate? b.) How many total deposits?

A: Information Provided: Amount = $750,000 Term = 4 years Interest rate = 15% compounded monthly

Q: A person needs ​$17,700 immediately as a down payment on a new home. Suppose that she can borrow…

A: Borrowing Amount = 17,700 Semi Annual Installments Time Period = 20 semi annual periods Interest…

Q: Morgan received a $29,050 loan from a bank that was charging interest at 3.25% compounded…

A: Loan is the value or an amount which is borrowed from other sources like banks for a finite period…

Q: Gregory's investment manager offers her an interest rate of 9.00% compounded monthly on her…

A: From the given data in the question, we have understood the future value of an ordinary annuity is…

Q: Joe is settling his debt by paying P50,000 at the beginning of every 6 months for 3 years. If the…

A: Semi annual payment = P 50,000 Period = 3 Years Number of semi annual payments = 3*2 = 6 Annual…

Q: ) Bianca takes out a 23-year home loan of $750,000 at the interest rate of 3% p.a. compounded…

A: Given: Particulars Amount Borrowed(PV) $750,000 Years 23 Interest rate 3.00%

Q: Lina borrowed 5000 at 8% compunded monthly.  She must begin to repay it at the end of this month and…

A: Ordinary annuity refers to the series of periodic payments that a borrower has to make regularly to…

Q: Tanya deposits ₱1,500 at the end of each quarter in her savings account. If the account earns 6.75%…

A: The amount deposited in the savings account grows on the basis of interest rate and the duration of…

Q: Joan earns a salary of $110,000 per year, and she expects to receive increases at a rate of 4% per…

A: An investment is a financial instrument that is bought with the motive of appreciation in value in…

Q: blake purchased an annuity that had an interest rate of 2.50% compounded semi- annually. it provided…

A: Solution- 2.50% interest rate semianually=2.52=1.25%=1.25100=1+r6-1=1+r=1.002072Monthly…

Q: Maria wants to have ₱750,000.00 at the end of 4 years for her graduation expenses. She plans to…

A: Time value tells that money received today has more value than that of receiving the same value…