d of Marbella there are three banks: Bank A, Bank ulations, all banks are required to hold at least 8% habitant of Marbella, has $15,000. Previously he h decides to deposit it all in Bank A. Bank A decides mos' neighbor, Barbara, who has a business idea th eives her loan she immediately deposits all of it in
Q: Write an equation that models the relationship between the amounts loaned from each bank.
A: Let, Let x represent the amount of money loaned at 3%. Let y represent the amount loaned at 4%.…
Q: You were considering depositing your savings in one of three banks, all of which pay 7% interest;…
A: Here multiple questions have been asked and no questions have been specified, so we will solve only…
Q: You are the owner of four Taco Bell restaurant locations. You have a business loan with Citizens…
A: Here, Loan Amount is $50,000 Ordinary Interest Rate of the Loan is 9.5% Duration of Loan is as…
Q: 1. Hernandez decided to borrow $85,000 for 10 months. She found that banks would lend to her only if…
A: 1) Loan from Bank one Borrow Amount = $85,000 Interest 10% Simple discount Time = 10 months Interest…
Q: 15, Lizabeth Neault needed funds to open a law office. She borrowed $28,400 at 8.5% simple interest…
A: Simple interest refers to the net amount of interest paid by the borrower to the lender on the…
Q: Jing, a recent engineering graduate, never took engineering economics. When she graduated, she was…
A: Effective Annual Rate is a modified rate of return where it considers the compounding effect.…
Q: Consider the following transactions occurring during a given fortnight. Remi's wage for his casual…
A: The journal entries that are required to be passed for all these 6 transactions are detailed below:
Q: SITUATION 3: Vanessa wants to be a 'wise' money saver. She has 20,000 Php and is willing to put it…
A: Let the amount in 15% bank = X Amount in 10% bank = 20000 - X
Q: You are the owner of four Taco Bell restaurant locations. You have a business loan with Citizens…
A: In the given situation is we opt for the first choice : Spending the all the excess cash $55,000 as…
Q: An investor has $100,000 to invest in a business venture, or she can earn 10%/year with a $100,000…
A: Capital Budgeting is the process of identifying, analyzing and selecting the best long-term…
Q: . negative;
A: The right answer is $250
Q: Bobwalks into TD and asks the bank manager to commit to extending him a one-year loan two years from…
A: Assuming the bond rate given is the government bond rate and using expectation theory concept,…
Q: Jill wants to buy a home. Her monthly gross income (GI) is $7,000. She currently has a car payment…
A: Market Value - The stock market value of a corporation is represented by its market value. It is the…
Q: Ken loans his grandson Rex $20,000 at 5.5% per year to help pay for executive chef schooling in…
A: “Since you have posted a question with multiple subparts, we will solve the first three subparts for…
Q: 3. Christina saved a small dollar amount throughout her senior year and now has $712. She can choose…
A: The following computations are done for Christiana to evaluate the two bank offers for investing her…
Q: Joey Espinoza has $1,000 in cash, he deposits the total amount in Legion Banc. Legion Banc lends the…
A: The banks have to deposit certain amount of money with central bank depending on the deposit made in…
Q: Jennifer Lee, an engineering major in her junior year, has received in the mail two…
A: Line of credit: It is the credit extended by the banks to its customers in which customers can avail…
Q: A small business takes out loans from three different banks to buy some new equipment. The total…
A: Business loan provided by bank involves simple interest for specific period of time. Simple interest…
Q: Comparing 2 banks. One bank is online and offers a savings account interest rate of 1.75% compounded…
A: As per our guidelines, we are supposed to answer only 3 sub-parts (if there are multiple sub-parts…
Q: Dave invests $3,700 in a savings account at his local bank which gives 3.296 simple annual interest.…
A: Investment means engaging your funds to generate income for the future. Interest is an income on…
Q: Nov. 8 Natalie cashes her U.S. Savings Bonds and receives $520, which she deposits in her personal…
A: please like the answer your response matters Date Account titles Debit Credit Nov. 8…
Q: A bank offers a Loyal Saver account to the customers who deposit between £3000 and £4000 at the…
A: The accumulated value of recurring instalments for a specific time period with regular intervals,…
Q: At the beginning of each of the last three years, Lucas put $7,000 from his earnings as a waiter…
A: Amount interest earned = New balance *interest rate New balance = Beginning balance + amount…
Q: Imagine that Mr John takes out a loan for £10,000 to start a new business. The bank credits the…
A: A loan is a form of debt incurred by an individual. The lender usually a Bank who advances a sum of…
Q: There are 2 types of residents in town. 20% are financially stable who can pay back the loan they…
A: Breakeven means a point of balance making neither profit nor loss. If amount is below point then it…
Q: Question Help ▼ Scott invested a total of $5900 at two separate banks. One bank pays simple interest…
A: The amount invested/ deposited by Scott at the bank that payed 10% interest is $3,100. Refer step 2…
Q: My cousin , Hershey , is a newlywed public school teacher who plans for the education of her future…
A: Annuities assume that money is put into the account on a regular schedule and money is then left in…
Q: 5.- PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS Lourdes Escárcega Bárcenas, a…
A: The Future Value of the annuity refers to the sum value of all the payments which is occurred…
Q: QUESTION ONECarson Company is a large manufacturing firm in Accra that was created 20 years ago by…
A: Hey, since there are multiple sub-part questions posted, we will answer the first three questions.…
Q: Mr. Lima borrowed ₱50,000 from a lending firm to start a mini-store business. If the firm charges…
A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…
Q: You are planning on enrolling in the Master of Finance in 4 years time and will be required to pay…
A: We need to calculate present value of fees to be paid at enrolment. the $45,000 fees is the future…
Q: Suzanne opens an account at a local bank on January 1, 2004 with a deposit of 3490 dollars. On…
A: Let Jan 2004 = Period 0 Deposit 1 (D1) = $3490 on period 0 Withdrawal 1 (W1) = $1680 after 3rd…
Q: You are the owner of four Taco Bell restaurant locations. You have a business loan with Citizens…
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: The Garcias have $12,000 in a savings account. The bank pays 3.5% interest on savings accounts,…
A: Investment = 12,000 Interest Rate = 3.5% N = 4 years
Q: Nana Seinfeld (Jerry’s grandma) invested $1500 at an interest rate of 1.25% compounded annually at…
A: Present value of money refers to the value of money today which is expected to receive or gain in…
Q: You are the owner of four Taco Bell restaurant locations. You have a business loan with Citizens…
A: Loan: It is the amount that the lender lends to the borrower & in return charges interest on it.
Q: 3. Zafri decides to borrow RM25,000 from a bank that charges 4.7% discount rate for 6 years to set…
A: Proceeds: This includes all the amount that is supposed to be received by the investor from the…
Q: A sales engineer is due to resign in the next three years. His plan is to set uр a business that…
A: Time Period = 3 years×12 = 36 months Interest Rate = 1.5%/12 = 0.125% per month Future value…
Q: Pedro deposits a sum of money in Metrobank for Juan. He wants Metrobank to send Juan checks of P…
A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…
Q: Laura borrowed a total of $18000 from two different banks. one bank charged 6% simple interest and…
A: Simple interest method is easiest way to calculate interest. In this method interest is determined…
Q: Ms. Tanner has just graduated from the University of Edmonton. She owed approximately $67,000 in…
A: Using excel PMT function
Q: Samuel opened an account in a bank with a deposit of RM3,000 during his daughter is 3 years old…
A: The total amount that is to be received after a specific period of time depicts the future value of…
Q: The local bank pays 5% interest on savings deposits. In a nearby town, the bank pays 1.25% per…
A: Compound interest is referred as the in interest calculated on principal along with all accumulated…
Q: if you make the partial payment and don't purchase the additional serving supplies? (Round your…
A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…
Step by step
Solved in 3 steps with 1 images
- A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $2,000 per month for the next 2 years and then $1,000 per month for 2 years after that. If the bank charges a 9% annual percentage rate (APR) it would be willing to lend to the business owner . A) $60,480 B) $63,598 C) $65,143 D) $62,074The local bank pays 5% interest on savings deposits. In a nearby town, the bank pays 1.25% per quarter. A man who has $4000 to deposit wonders whether the higher interest paid in the nearby town justifies driving there. If all money is left in the account for 3 years, how much interest would he obtain from the out-of-town bank?QUESTION ONECarson Company is a large manufacturing firm in Accra that was created 20 years ago by the Carson family. It was initially financed with an equity investment by the Carson family and 10 other individuals. Over time, Carson Company has obtained substantial loans from finance companies and commercial banks. The interest rate on the loans is tied to themarket interest rate and is adjusted every six months. Thus, Carson’s cost of obtaining funds is sensitive to interest rate movements. It has a credit line with a bank in case it suddenly needs additional funds for a temporary period. It has purchased Treasury securities that it could sell if it experiences any liquidity problems.Carson Company has assets valued at about 50 million cedis and generates sales of about 100 million cedis per year. Some of its growth is attributed to its acquisitions of other firms. Because of its expectations of a strong Ghanaian economy, Carson Company plans to grow in the future by expanding its…
- Imagine that Mr John takes out a loan for £10,000 to start a new business. The bank credits the £10,000 to MrJohn's current account. Choose AT LEAST ONE correct answer.a. Since Mr John has been credited with the £10,000 in his current account, yet he now owes the bank£10,000, the total amount of money in the economy has remained the same.b. The extra £10,000 in Mr John's current account is an asset for the bank, because this is money that he owesto them. c. The loan is an asset for the bank. d. At the point that the loan is made, the bank's net worth decreases and Mr John's net worth increases bythe same amount, £10,000.NOTE: PLEASE STRICTLY CHOOSE FROM THE FORMULA ATTACHED. DONT USE EXCEL! 8. Mrs. Dimayuga deposits P12,000 in a savings account on March 30, 2006. Six months later, she deposited P6,000. If the bank credits at 12% compounded quarterly and no withdrawal has been made, how much is her money on December 30, 2012? 9. Mrs. Delos santos has P75,000. 1/3 of it was invested at 18% compounded semi-annually. 1/4 of the remaining amount was invested at 12% compounded quarterly, and the remaining amount was invested at 12% compounded monthly. Find her total investment in 6 years. 10. Find the compound amount and interest of P29,700 invested for 6 years and 9 months at 18% compounded monthly.Company A is contemplating on borrowing $500,000 to start a business. Credit union 1 has offered to loan the company the money at an interest rate of 14% compounded continuously. Credit union 2 has offered the money with the stipulation that the company repays it by making monthly payments of $120,000 for 5 years. From which credit union should the company borrow the money?
- NOTE: STRICTLY USE THE GIVEN FORMULA IN THE PHOTO ATTACHED 1. How much must a man deposit in a bank that pays 7% compounded annually so that after 10 years he will have P3,000,000 2. How much must a corporation deposit in a bank which credits interest at 12% compounded monthly to come up in 8 years with P2,500,000 needed for its expansion program? 3. In purchasing of house, a man makes P720,000 down payment and agrees to pay P1,200,000 5 years later. Find the cash value of the house if money is worth 14% compounded semi-annually. 4. On the birth of a child, a father wished to invest in a trust fund which gives 12% compounded quarterly. How much must he invest if he wants to accumulate P650,000 by the time the child reaches his 21st birthday? 5. To provide for a purchase of a car worth P950,000 as a gift to his mother 5 years from now. How much should Benjamin invest today at 18% compounded quarterly? 6. Mrs. Dela Cruz invested P70,000 at 12% compounded quarterly for 5 years and…Jennifer Lee, an engineering major in her junior year, has received in the mail two guaranteed-line-of-credit applications from two different banks. Each bank offers a different annual fee and finance charge. Jennifer expects her average monthly balance after payment to be $500 and plans to keep the card she chooses for only 24 months. (After graduation, she will apply for a new card.) Jennifer's interest rate (on her savings account) is 8% compounded daily. Terms Bank A Bank B Annual fee $2S FreeFinance charge 1.65% monthly interest rate 20% annual percentage rate(a) Compute the effective annual interest rate for each card.(b) Which bank's credit card should Jennifer choose?A mother wants to invest $8 comma 000.00 for her son's future education. She invests a portion of the money in a bank certificate of deposit (CD account) which earns 4% and the remainder in a savings bond that earns 7%. If the total interest earned after one year is $ 480.00 comma how much money was invested in the CD account? The total interest earned after one year is $480.00 . How much money was invested in the CD account?
- Laura borrowed a total of $25,000 from two different banks to start a business. One bank charged the equivalent of 3% simple interest, and the other charged 4.5% interest. If the total interest after 1 year was $810, determine the amount borrowed from each bank.PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASProblem 5:An account executive at Santander branch CETYS, receives a deposit from an important client-student, surnamed Cuevas Ronchas for $30,000.00; in an account that generates 6% interest, capitalizable monthly. After two years, he decides to make new deposits at the end of each year, so that after three years from this decision, he has $200,000.00 at the time of the last deposit. Find the amount of annual deposits he has to make for the last 3 years. The solution involves calculating a future value and then a present value. Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel. Please, not in written form, please do it in excel Please, not in written form, please do it in excel Please, not in written…PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASProblem 5:An account executive at Santander branch CETYS, receives a deposit from an important client-student, surnamed Cuevas Ronchas for $30,000.00; in an account that generates 6% interest, capitalizable monthly. After two years, he decides to make new deposits at the end of each year, so that after three years from this decision, he has $200,000.00 at the time of the last deposit. Find the amount of annual deposits he has to make for the last 3 years. The solution involves calculating a future value and then a present value. Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.