Find the cost of a CD in 12 years, assuming and inflation rate of 4.5%, if it’s present cost is $12.95. Please round the answer to the nearest cent

Q: A financial adviser recommends a client deposit $1500 in a fund that earns 9.5% annual interest…

A: To find the interest rate per month

Q: Determine the value of an account at the end of 5 years if the principal amount of $14000 is…

A:

Q: A local Dunkin’ Donuts franchise must buy a new piece of equipment in 5 years that will cost…

A: Solution: Given information:: n = 5  number of year  Annuity future value = $97000 i= 0.08 rate of…

Q: If the average inflation rate is 2%, how long is it until purchasing power is cut in half?

A: Consider the provide information,  The general formula if the inflation averages a rate of r over n…

Q: What monthly interest rate equals a quarterly interest rate of 15%? Give your answer as a decimal…

A:

Q: What daily interest rate equals a quarterly interest rate of 8%? Give your answer as a decimal…

A: In this case we have to find out the interest rate using equivalence relationship so I'm providing…

Q: What corresponding discount rate equivalent to 10.45% interest rate for 15 months?

A: We can find the answer as below.

Q: When calculating present value, the _____ the interest rate, the smaller the present value amount.

A: Answer When calculating present value, the _____ the interest rate, the smaller the present value…

Q: Find the present value of $34,500 in 11 months at 5.5% interest Give your answer to the nearest cent…

A:

Q: If the average annual inflation rate is 3.1%, how long will it take for the CPI index to double? (A…

A: Given: the average annual inflation rate is 3.1% To find: how long it will take for the CPI index to…

Q: What quarterly interest rate equals an annual interest rate of 2 %? Give your answer as a decimal…

A: Given that: Annual interest rate, i=2%

Q: What monthly interest rate equals a quarterly interest rate of 4%? Give your answer as a decimal…

A: First we have to know that number of times intrest applied per year in monthly and quarterly intrest…

Q: If the inflation rate averages 3%, how much will $1000 purchase in 2 years?

A:

Q: Your client believes that they will have $2,400,000.00 in a retirement account in 26 years. If the…

A: Given data is: Retirement amount is A=$2,400,000.00 Time (t)=26 years The inflation rate is  r=1.5%…

Q: Find the effective rate of interest.; For 6% compounded monthly

A:

Q: Suppose you borrow P15,000 and required to pay P15,315 in 4 months to pay off the loan and interest.…

A:

Q: Molly Hamiton deposited $65,000 at bank of America at 8% interest compounded quarterly.  What is the…

A: We are given that Molly Hamiton deposited $65,000 at the bank of America at 8% interest compounded…

Q: Find the effective rate of interest.For 5% compounded quarterly

A: Effective interest rate is the equivalent annual interest rate compounded annually which is…

Q: With an annual inflation rate of 1.91%, how much did an item that now costs $8600 cost 8 years…

A:

Q: A loan company offers money at 1.5% per month compounded monthly. What is the nominal interest rate?…

A: According to question given that Loan company offer 1.5% per month compounded monthlyNominal…

Q: Suppose that a savings account pays an effective rate of interest of 11 percent. What is the…

A: Interest rate =11%

Q: What is the annual effective interest rate of a loan that is the compounded daily, if the nominal…

A: We know,  effective interest rate = nominal interest ratenumber of compounding period in a year…

Q: Chuong Ngo borrows $2400 from a bank that advertises a 6% simple interest rate and repays the loan…

A:

Q: A bank deposit paying simple interest at the rate of 8%/year grew to a sum of $2000 in 10 months.…

A:

Q: assume the $11,700 treasury bill, 6% for 12 weeks. calculate the effective rate of interest. (use…

A: Given that, the $11700 treasury bill, 6% for 12 weeks.

Q: If you borrow $8,500 at 4% interest, what is the amount that you will owe in five years if…

A: The formula for compound interest is given below: A=P1+rnnt where, A is the final amount, P is the…

Q: Find the accumulated amount at the end of 8 months on a $2100 bank deposit paying simple interest at…

A: The solution for the above question is shown below.

Q: Find the difference between simple interest and compound interest on a savings deposit of fifty…

A:

Q: If the amount that $1000 will purchase is only $930 after 2 years, what was the average inflation…

A: The amount A that $P will purchase after n years if the inflation averages a rate of r over n years…

Q: If the amount that $1000 will purchase is only $950 after 2 years, what was the average inflation…

A: The inflation rate is the rate of change, or increase or decrease in the price of a commodity over a…

Q: if the inflation rate were 4%, how long will it take for $1 item to cost $2

A: Using this trick C2=c1(1.04)^x

Q: sam long anticipates he will need approximately $225,300 in 12 years to cover his 3-year-old…

A: We will find out the required value.

Q: Suppose you buy a home and finance $275,000 at $2,233.17 per month for 30 years. What is the amount…

A: According to question, Cost of home = $275,000, Cost of finance = $2,233.17 per month, Time period…

Q: Determine the simple interest rate at which $1200 will grow to $1276 in 8 months. (Round your answer…

A: Given: -

Q: Find the unpaid balance on the debt. (Round your answer to the nearest cent.) After 7 years of…

A: Amount of Loan = $150,000Annual Interest Rate = 3%Monthly Interest Rate = 0.25%Period of Loan = 25…

Q: market basket” of goods that cost $140 in 2005 cost $172 in Based on this information, what was the…

A: Inflation rate can be find out by dividing the difference in the rates between present and previous…

Q: Marit Brunsell deposited $60,000 at Bank of America at 16% interest compounded quarterly. What is…

A:

Q: 398 wit

A: In this question, the concept of Simple Interest is applied. Simple Interest Simple interest is…

Q: Jane Frost wants to receive yearly payments of $16,000 for 8 years. How much must she deposit at her…

A: We want to find intereste compound annually.

Q: A company gets a discount loan at a 12 percent interest rate.  They borrow $100,000 for one year.…

A:

Q: (a) If the inflation rate is 6%, how much will a house now worth $465, 000 be worth in 10-years? (b)…

A:

Q: A man is required to pay P57,500 at the end of 15 days and for P60,000 at the end of 60 days.…

A:

Q: What equivalent interest rate that corresponds a discount rate of 9.98% for 700 days?

A: Given: Let us determine the equivalent interest rate for a 9.98% discount rate over 700 days

Q: What daily interest rate equals a quarterly interest rate of 17%? Give your answer as a decimal…

A:

Q: What quarterly interest rate equals an annual interest rate of 15 %? Give your answer as a decimal…

A: Given problem is :   What quarterly interest rate equals an annual interest rate of 15 %? Give…

Q: What monthly interest rate equals a quarterly interest rate of 2%? Give your answer as a decimal…

A:

Q: If the annual rate of inflation is 4%, find the price of a good at the end of a year if its price at…

A: Let the price at the end of the year is x then by the formula of inflation x-2525×100=4% Because…

Q: What is the monthly payment for a home costing $375,000 with a 10% down payment and the balance…

A: What is the monthly payment for a home costing $375,000 with a 10% down payment and the balance…