Find the effective annual interest rate of 4% compounded quarterly. Round to the nearest hundredth.

Q: Find the present value of amount. $45,678.93 if interest is 7.2% compounded monthly for 11 months

A: To find Present value, if  Amount, A=$45,678.93rate, r = 7.2%time, t = 11 monthscompunded monthly

Q: Find the present value of $41,232 due in 6 years at an interest rate of 3.5%/year compounded…

A: The amount formula for compound interest is A = P(1+i)n Therefore, P = A/(1+i)n where, P = present…

Q: Find the interest rate for each deposit and compound amount. 6) $8000 accumulating to $12,384.48,…

A: Recall the following fact.

Q: Find the future value of the indicated principal 30000 at 8% compounded annually for 10 years

A: To find: The future value of the amount 30000 at 8% compounded annually for 10 years. Given: The…

Q: Determine the amount of money accumulated after 5 years if $2, 000 is invested in an account that…

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Q: Find the effective rate of the interest that is equivalent to an 9% rate compounded monthly.

A: Effective rate of interest :   The Effective Annual Interest Rate (EAR) is the interest rate that is…

Q: What is the annual percentage yield for an account with a nominal interest rate of 12%, compounded…

A: The formula for annual percentage yield is, APY = (1 + i/n)n – 1, where I is the nominal interest…

Q: Find the effective rate to the nearest hundredth for nominal interest rate. 7% compounded quarterly

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Q: Find the amount necessary to fund the given withdrawals. Quarterly withdrawals of $650 for 3 years;…

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Q: Find the present value of the following future amount. $200,000 at 10% compounded annually for 15…

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Q: Find the present value of amount. $2000 if interest is 6% compounded annually for 5 years

A: Compound interest formula is A=P1+rnt Where A=AmountP=Present valuer=interest raten=number of times…

Q: Calculate the compound amount when  $8000 is deposit  in an account earning 9% interest compounded…

A: The answer is given below:

Q: A person deposits $300 on the last day of each quarter into a savings account that pays 9​%…

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Q: Find the present value of amount. $10,000 if interest is 6% compounded quarterly for 8 years

A: The formula for calculating compound interest when time period is specified in years and interest…

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

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Q: Given: ₱50,000 at 11% compounded quarterly for 5 years. What is the interest rate per conversion…

A: Given that: Principal amount = ₱50,000 Rate of interest = 11% = 0.11 Number of years he amount is…

Q: Find the interest rate for each deposit and compound amount.  $8000 accumulating to $11,672.12,…

A:

Q: Find the ending balance: $1,500 for 22 years at 9% annual compound interest

A: Compound interest is calculate as: A = P(1+r)t A = final amountP = principal amountr = interest…

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: Find the compound interest on an investment of $18,000 at 8% compounded quarterly for 15 months.

A: In the given problem the investment is $18,000 , the rate of interest is 8%, the investment…

Q: Calculate the compound amount when $7000 is deposited in an account earning 8% interest, compounded…

A: Introduction: Suppose P is a principal invested at r% compound interest for t units of time, where…

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: Find the total amount after 10 years for the initial deposit of $30,000 with the interest rate of 5%…

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Q: Find the total accumulated amountpresent in an account after investing $42,000 for 8 years at a rate…

A: Given Data: The amount invested is: P=$42000 The time period is: t=8 years The rate of compounding…

Q: What is the annual percentage yield of 5% compounded quarterly?

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Q: Find the amount necessary to fund the given withdrawals. Quarterly withdrawals of $650 for 6 years;…

A: To find the first payment $650(due in first quarter of the year), the present value of $650 at 4.5%…

Q: Find the compound amount for the deposit. Round to the nearest cent. 4) $8000 at 6% compounded…

A: To work out the amount earned through compound interest under the given terms

Q: Find the present value of $30,000 due in 4 years at the interest rate of 5%/year compounded monthly?…

A: The future value of investment is A=$30,000 Number of periods is n=4×12=48 Periodic interest…

Q: determine the interest rate in % compounded annually if the compound amount factor is 1.069 for a…

A: The formula for compound interest is A= P(1+rn)nt Where A = accumulated amount, P= principal, r =…

Q: Find the effective rate of interest corresponding to a nominal rate of 11.5% per year compounded…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Find the present value of $30,000 due in 6 years at an interest rate of 8%/year compounded monthly.

A: Given:Find the present value of $30,000 due in 6 years at an interest rate of 8%/year compounded…

Q: Find the compound amount for the deposit. Round to the nearest cent. $15,000 at 3% compounded…

A: From the given information, it is observed that,

Q: Find the present value of $100,000 if interest is paid at a rate of 8% per year, compounded monthly,…

A:

Q: Find the annual percentage yield for an investment that earns 8% per year, compounded monthly.

A: We have to find the percentage yield for an investment that earns 8% per year compounded monthly. We…

Q: Find the present value of $10,000 if interest is paid at a rate of 9% per year, compounded…

A: A=P1+rnntFor compounded semiannually, n=2

Q: Find the compound for the deposit. Round to nearest cent. 24,391$ at 8.5% compounded daily for 5…

A:

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

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Q: Find the future value of the given amount. Round the result to the nearest cent. $6000 at 9%,…

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Q: Find the principal to get $1000 after 2 years at 6% compounded quarterly?  Round to nearest cent.

A: It is given that, the amount after 2 years is A = $1000, n = 4 since compounded quarterly, r = 0.06.…

Q: Find the amount of money in an account after 4 years if $1800 is deposited at 5% annual interest…

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Q: Find the present value of $50,000 due in 4 years at an interest rate of 5%/year compounded monthly.…

A: Given:

Q: Find the compound interest earned by the deposit. Round to the nearest cent. $4000 at 4% compounded…

A: Given:

Q: Jim borrows $400 at 3% per annum compounded quarterly for 2 years. Determine the interest due on the…

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Q: A credit card had an APR of 23.83% all of last year and compounded interest monthly. What was the…

A: GIVEN   APR = 23.83%   COMPOUNDED MONTHLY  MEANS  n = 12 EFFECTIVE INTEREST = ?

Q: Findthe present value of $100,000 if interest is paid at a rate of %8 per year, compounded monthly,…

A: Given, Future value, FV = $100,000  Interest rate, R= 8% time, t =10 years. Compounde period…

Q: Find the present value of $30,000 due in 4 years at the given rate of interest 6%/year compounded…

A:

Q: Find the interest rate for an $8000 deposit accumulating to $10,620.25, compounded quarterly for 6…

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Q: Use the compound interest formula to determine the final value of the following amount. $1200 at…

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Q: Find the interest on P10,000 at 5 ½% for 4 years and 6 months compounded monthly.

A: Given that.   Find the interest on P10,000 at 5 %2% for 4 years and 6 months compounded monthly.…

Q: Determine the present value of P 6,800 paid at the end of each subsequent quarter for 7 years if…

A: Given information PMT=$6,800 Rate of interest r=6% ⇒r=6100=0.06 Time t=7 years Since, interest is…