d) Sean rents out his three bedrooms flat for R5 000 per month, payable in advance. All his rental proceeds are deposited into a bank account that earns interest at a rate of 11% per annum compounded monthly. If no withdrawals are made from the bank account, what will be Sean's balance on this bank account 8 years from now

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A: The real interest that an investor earns on the investment and a borrower pays on loan after…

Q: Daniel deposits $20,000 into an account earning interest at 6% per year compounded quarterly. He…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: 1. Manda Bamkeng deposits Php 50,000 every beginning of the month for 4 years with 2% compounded…

A: Note: As per the rules of Bartleby,in case of multiple unspecified questions only the first question…

Q: Alexander Michael owes P25,000.00 due in 1 year and P75,000 due in 4 years. He agrees to pay…

A: Amount owed in one year = 25,000 Amount owed in four years = 75,000 Amount paid today = 60,000…

Q: A man borrowed 200,000 from his friend and agreed to pay after 6 years at an interest rate of 10%…

A: Given: Amount Borrowed: 200,000 Loan tenure in years: 6 Loan Interest Rate: 10% Annual Deposit…

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A: Future value of an annuity can be computed by compounding each amount by using an appropriate…

Q: Elwin Tulpo invests Php1,000 in a Bank at 10% a year for five years, but when the interest is…

A: The future value function or concept can be used to determine the future value of a present sum or…

Q: Joe plans to deposit $300 at the end of each month into a bank account for a period of 3 yr, after…

A: To solve this question we have to first find the future value of monthly annuity of $ 300 after…

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A: The concept of present value states that a sum of money is worth today more than the same sum of…

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A: Future value of present sum depends on whether it is simple interest or compounded…

Q: Che Kow buys a house for RM450,000 with 20% down payment. He takes a loan from a bank to settle the…

A: Monthly payment The minimum value that is needed to be paid by the person every month.

Q: ABC Bank pays interest at the rate of 2% compounded quarterly. How much will Ken have in the bank at…

A: Note : All the Given Options are incorrect , so we are solving the correct one for you as per the…

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A: Interest means the extra amount which we received because of investment made and will be paid in…

Q: Grace borrowed P150,000 payable in 2 years. To repay the loan, she must pay an amount every month…

A: The PMT function is a type of financial function which helps to determine the total monthly payment…

Q: Peter has RM10,000 that he can deposit in any three savings accounts for a 3-year period. Bank A…

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Q: Mr. Ghani wants to deposit his savings of Rs. 50,000 in a bank which offers 8% interest compounded…

A: The concept of time value of money(TVM) is working on the purchasing power capacity of money which…

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A: Effective interest rate refers to the rate which is calculated by computing the effect of…

Q: Belle invests RM7000 in a savings account at 3.2% rate of interest, compounded annually. No further…

A: Initial investment (P) = RM 7000 Interest rate (r) = 3.2%

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A: Ordinary Annuity refers to series of equalized payments that are made at end of period for certain…

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A: Saving Account is a type of financial service offered to general public by banks with limited…

Q: Joella invested RM5,000 in an interest-bearing promissory note earning an 8% annual rate of interest…

A: Following is the answer to the question

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

Q: Marwan just deposited $13,000 into his account at Bank Muscat. The bank will pay 2.3 percent…

A: Deposit amount (P) = $ 13000 Annual interest rate (R) = 2.3% Period (N) = 15 Years

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A: The following formula will be used to calculate the monthly deposit:

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A: Down payment (DP) = RM 20,000 Monthly payment (P) = RM 715 Period = 9  Years Number of monthly…

Q: Sergio purchased a house for $440,000; he paid $44000 as a down payment and financed the balance…

A: NOTE: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts…

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Q: Nur's father bought a car for RM104,000. He paid an advance of RM24,000 and the balance will be paid…

A:

Q: Mrs. Carter deposits P 100 in the bank at the end of each month. If the bank pays 6 % per year…

A: Monthly deposit (P) = P100 Interest rate = 6% e = 2.7182818284590452353602874713527 Monthly interest…

Q: Approximately how long will he take to pay off the loan under these​ conditions?

A: Information Provided: Time = 5 years Interest rate = 6.5% Present value = $62,000 Additional payment…

Q: If Jackson deposits $120 at the end of each month in a savings account earning interest at a rate of…

A: To solve this question we have to use the formula of Future Value of ordinary annuity. The formula…

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A: The quarterly compounded rate is 9% per annum that means 2.25% per quarter compounded quarterly…

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A: Loan Amount = $100,000 Interest Rate = 4% Payment in 1 Year = $10,000

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

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

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A: Principal amount is the amount initially invested in a deposit account or the net amount borrowed by…

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A: A study that proves that the 1value of money today is higher than the future value of money is term…

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A: Annual payments refers to the periodic payment which can be used for a variety of purposes like for…

Q: Jack Bond plans to move into a rented flat in Melville in 8 month’s time. The owner of the flat, Ms…

A: The future value of a sum shows an amount to be received or paid in the future. It shows the present…