Ericson deposited PhP 35,000 into his savings account that earns 4% interest. How much will he have after 18 months?
Q: Jim Hopper plans to place his money in a certificate of deposit that matures in three months. The…
A: A certificate of deposit is a fixed income instrument issued by banks and credit unions. Interest…
Q: Alex invested $10,500 in an account that pays 6 percent simple interest. How much money will he have…
A: Simple interest is the method of calculating interest on the amount of investment. A fixed amount is…
Q: Ar. Rosales deposits P75,000 at the end of each month in a bank which pays 9% compounded month ho…
A: Honor code: Since you have asked multiple questions, we will solve the first question for you. If…
Q: how much would he have at the end of 3 years?
A: Time value of money(TVM) means that the present sum of money will have more value than the future…
Q: Aira is planning to deposit RM10,000 today in Investment account that pays interest of 8% per annum.…
A: Amount of money in the account at the end of year 10 is the future value of the amount at the end of…
Q: Edison wants to have Php900,000 in 4 years. He makes semi-annual deposits in a savings account…
A: Here, Desired Amount (FV) is Php 900,000 Time Period (n) is 4 years Interest Rate (r) is 8%…
Q: joe decides to invest $610 dollers every month in an account that pays 1.87% monthly how nuch money…
A: Following information are given: Monthly deposit = $610 Monthly rate = 1.87% No of months = 33…
Q: Daryl Yap invested the amount of Php100,000 in a bank that offers 15 % per annum simple interest.…
A:
Q: A man borrowed a certain sum of money from a bank which charges interest at 18%, compounded…
A: The borrowed amount is calculated as the present value of payments
Q: Joshua borrowed $800 for one year and paid $40 in interest. The bank charged him a service charge of…
A: Annual Percentage Rate (APR) is the actual annual cost incurred by the borrower on the amount…
Q: A person deposits 200.00 riyals at the end of each month for a year in a bank, and it has been found…
A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…
Q: Denvert is planning to make two deposits, PhP 40,000 now and PhP 50,000 at the end of year 8. On the…
A: Here, First Deposit now is Php 40,000 Second Deposit at the end of year 8 is Php50,000 Annual…
Q: 1. Buchoy deposits Php10 000 in a bank that pays 4% compound interest annually. How much money will…
A: Interest means the extra amount which we received because of investment made and will be paid in…
Q: Anita put up a bank account with an initial deposit of 25, 000. After six months, she deposited…
A: Simple interest is applied directly on the principal amount. The formula for calculating simple…
Q: An individual makes five annual deposits of Php 2,000 in a savings account tha pays interest at a…
A: The answer is shown below:
Q: Diego invested 10,500 the bank gives him 2,520 simple interest per month.If you receive 2,520 as…
A: Solution:- Interest means the increase in amount invested for a certain time period for deferring…
Q: David deposits RM60,000 today into his account that pays 8 percent per year. He continues deposit…
A: Deposit now = RM 60,000 Annual growth in deposit amount = 20% Period of deposit = 4 Years Number of…
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
Q: An Engineer deposits 7,000 pesos every year end in a savings account that pays nominal annual…
A:
Q: Mr. Palting deposited P100,000 on a bank bearing an interest of 12% compounded quarterly. At the end…
A: given, pv = P100,000 A= P30,000 at end of 5 years for next 4 years R=12% M=4
Q: How much will be her savings after 8 years?
A: PMT is $6,000 semi annually, n= 12 compounding monthly, t=1/2 , 1, 3/2 , 2, 5/2, 3, .....8 which is…
Q: John borrowed PhP 100,000. He is to pay his debt in 10 equal annual payments starting 5 years from…
A: The concept of the time value of money states that the current worth of money is more than its value…
Q: A man borrowed Php200000 from his friend and agreed to pay years at an interest rate of 10% per…
A: Loan amount = Php 200000 Interest rate = 10% Future value required (FV) = Loan amount*(1+Interest…
Q: Mr. Chua invest 45,000 into two different accounts which pay 7% and 8% annual interest. If he earned…
A: solution the rate of interest = 7% and 8% total amount invested =45000 we need to find out the…
Q: Shiro’s grandfather has just announced that he’s opened a saving account for Shiro with a deposit of…
A:
Q: Tom decides to save Php 25,000 each month for the next five years. If he starts to invest all of…
A: The future value is the amount that will be received at the end of a certain period. In simple…
Q: Ryan invests $4400 in two different accounts, the first account paid 8%, the second account paid…
A: The simple interest is calculated by multiplying interest rate by principal amount for a certain…
Q: An individual makes five annual deposits of Php 2,000 in a savings account that pays interest at a…
A: Given: Number of annual deposits "n"= 5 Amount of annual deposits "PMT"= 2000 Rate per year during…
Q: Lucas made a single deposit into a savings account. At the end of saving for 18 years, Lucas has…
A: We need to use continuous compounding formula to solve this problem A=P(e)rn where A=future…
Q: A student decides to make annual payments of Php 1619 into a bank that has a nominal interest of 4%…
A: Formula Future value = P*((1+i)n-1)/i Where P = Annual payment i.e. Php 1619 i = Annual interest…
Q: Rizza’s saving earned Php105 after a year. If her account balance after earning interest showed…
A: The future value of money is determined by investing a certain sum of money in the present, for a…
Q: Jack borrowed $12,000 from a bank for 3 years at 15% interest annually. What is the total…
A: Simple interest is the fixed rate of interest which is paid or payble on amount borrowed. It is…
Q: Joey has 750,000 in bank account as of December 31,2018. If he deposited P40,000 in the account at…
A: Interest is the amount paid to the bank against loan taken. It is determined by multiplying the…
Q: Smith invests usd 10.000 in an account that pays interest. After the first year he receives 4.200…
A: Future value is the accumulated sum of money that is invested with the motive to earn a certain…
Q: Jonathan invested a total of Php 20,000.00 in two simple interest savings accounts, one having an…
A: We need to use simple interest formula to calculate principal value at each rate. Simple interest…
Q: What is the interest paid by Victor on Php 35,000.00 that he borrowed for 2 years at 15% simple…
A: Interest: It refers to the monetary charge on the mortgage or loan borrowed by the borrower from…
Q: Sidney makes 10 annual deposits of 5,500 each into an investment account. The interest rate is 6%…
A: Investments are the ways through which money is saved in various financial instruments and accounts…
Q: Mr. Ali has invested an amount of Rs101, 876 in a Bank scheme. Bank credits profit of 7% each year,…
A: Given Information: Investment (Present Value) : Rs. 101,876 Profit (Interest rate): 7 % Bank fee…
Q: Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly…
A: Future value is the value of the current assets or some amount that is invested today and amount…
Q: Mrs. Reyes decided to save money for her grandchild. She deposit Php 300 each month into an account…
A: Annuity: It refers to the present and future value of recurring payments at a particular point of…
Q: . A father borrows P10,000 for the enrolment of his son in college last August. He agrees to pay the…
A: Given, the interest rate is 9% compounded monthly. Number of months is 4. Sum borrowed is P10,000.…
Q: Kim deposits 4,700 pesos into an account earning 1.25% intererst per annually. How much money will…
A: We need to use simple interest formula given below Simple interest =Principal*Rate*Time
Q: Layla puts PhP 45,000 into an account to use for future expenses. The account earns 13%, compounded…
A: Deposit amount (PV) = Php 45,000 Annual interest rate = 13% Interest rate quarterly (R) = 13%/4 =…
Q: Marlon borrowed 15,000 Php from a lending company that charges a simple interest rate of 11%.…
A: Borrowed amount = 15000 Php. Interest rate = 11%
Q: Mr. So borrowed Php200,000 from a cooperative that charges 15% yearly. He used the loan to start his…
A: The amount to be paid after 18 months can be calculated as the future value of loan. Given, Present…
Q: Rahimah invests RM500 in a saving account paying 12% interest per year compounded monthly. How much…
A: Hi there, Thanks for posting the questions. But per Q&A guidelines, the solution for one…
Q: Vincent borrows Php 4,800 with interest at 18% compounded quarterly. How much should he pay to the…
A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…
Q: Rodney would like to save $57,000 over the next 15 years. How much must he deposit at the beginning…
A: Annuity refers to the fixed periodic payments which are paid monthly, quarterly, semi-annually or…
Ericson deposited PhP 35,000 into his savings account that earns 4% interest. How much will he have after 18 months?
Step by step
Solved in 2 steps
- Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264Whitney deposited $200,000 into a savings account that has an annual interest rate of 8% compunded daily. How much will be in the account after 4 years?Elwin Tulpo invests Php1,000 in a Bank at 10% a year for five years, but when the interest is credited at the end of each year, he leaves it in his account. What amount does he have at the end of five years?
- Jason makes six EOY deposits of $2,000 each in a savings account paying 5% compounded annually. If the accumulated account balance is withdrawn 4 years after the last deposit, how much money will be withdrawn?Pete opens a simple intrest savings account that earns 5% annual interst with an intial deposit of $3,500. What will the balance be in his savings account at the end of 18 months?Jonathan invested a total of Php 20,000.00 in two simple interest savings accounts, one having an annual interest rate of eight percent, the other, seven percent. If the total annual earnings from the two accounts are Php 1,517.50, how much was invested in each account?
- Edison wants to have Php900,000 in 4 years. He makes semi-annual deposits in a savings account paying interest at 8% compounded semi-annually. Find the semi-annual deposit.Kim deposits 4,700 pesos into an account earning 1.25% intererst per annually. How much money will be added to her account 9 months?A businessman saves Php 6, 000 every 6 months in a bank that pays 0.25% compounded monthly.How much will be her savings after 8 years?
- Jason makes six EOY deposits of $2,000 each in savings account paying 5% compounded annually. If the accumulated account balance is withdrawn four years after the last deposit, how much money will be redrawn?1. Buchoy deposits Php10 000 in a bank that pays 4% compound interest annually. How much money will he have after 12 years without withdrawal?Rapi Tulpo invests Php1,000 in a Bank that doubles his money in five years. To what annual interest rate does this correspond assuming that he withdraws the interest each year?
