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! Use the given Data ! bartleby = 3 max questions
For a deposit of P150000 at 8.5% interest compounded continuously over 5 years, find the interest
earned.
Jonal is left with an inheritance which amounts to P 30000 trusted to her guardian until it reaches
to P 60000, how long would she wait for her money if it is invested at 10% compounded quarterly?
N=
Step by step
Solved in 2 steps
- Pls solve for the ordinary annuity of the following: Joe deposits $22,000 at the end of each year for 7 years, in an account paying 6 % compounded annually, how much will he have on deposit after 7 years? Ans: $184,664.43 Napoleon deposits $1,200 at the end of each quarter for 10 years, in an account paying 8 % compounded quarterly, how much will he have on deposit after 10 years? Ans: $72,482.38 Jose wants to retire in twenty years and for this purpose he is depositing $200 at the end of each month in a sinking fund that pays 7.2% compounded monthly. If he will be doing this for twenty years, then how much money will be there for him when he retires? Ans: $106,752.475. Mr. Jo needs P 4,000,000 immediately to pay for a new home. Having insufficientfund for this, he borrows P 2,000,000 from an insurance company and repay the loanevery six months for 15 years, the first payment being at the end of 8 years from now.If the insurance company charged him 8% compounded semiannually, how much isthe amount of each payment?A person needs $17,000immediately as a down payment on a new home. Suppose that she can borrow this money from her company credit union. She will be required to repay the loan in equal payments made every six months over the next10 years. The annual interest rate being charged is 13%compounded continuously. What is the amount of each payment? The amount of each payment is $ (Round to the nearest dollar.)
- You are paying$1,500each month for 12 years with an interest rate of12%compounded continuously, find the equivalent future lump sum amount at the end of 10 years? (if result=1250.5just write 1250.5 ) Answer:.Mr. Smith invested $2,500 in a savings account that earns 3% interest compounded annually. He made no additional deposits or withdrawals. Which expression can be used to determine the number of dollars in this account at the end of 4 years? 2500(1+0.03)^(4),2500(1+0.04)^(3) 2500(1+0.3)^(4),2500(1+0.4)^(3).! Pls answer all ! bartleby = 3 max questions 1. Compute the interest for an amount of P200,000 for a period of 8 years if was made at 16%compounded every 2 months? 2. Which has the least effective rate of interesta. 11% compounded monthlyb. 11.2 % compounded quarterly 3. Find the nominal rate of 22% compounded every 3 months.
- Many persons prepare for retirement by making monthly contributions to a savings program. Suppose that $2,000 is set aside each year and invested in a savings account that pays 10% interest per year, compounded continuously. Solve, a. Determine the accumulated savings in this account at the end of 30 years. In Part (a), suppose that an annuity will be with drawn from savings that have been accumulated at the EOY 30. The annuity will extend from the EOY 31 to the EOY 40. What is the value of this annuity if the interest rate and compounding frequency in Part (a) do not change?Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest?Periodic Deposit: $? at the end of each yearRate: 8% compounded annuallyTime: 12 yearsFinancial Goal: $20,000Suppose that $12,000 is placed in a bankaccount at the end of each quarter over the next 15years. What is the future worth at the end of 15 yearswhen the interest rate is 8.5% compounded at thegiven intervals?(a) Quarterly(b) Monthly(c) Continuously
- What uniform annual payment for 12 years is equivalent to receiving all of the following:$ 3,000 at the end of each year for 12 years20,000 today4,000 at the end of 6 years800 at the end of each year forever10,000 at the end of 15 yearsUse an 8% interest rate.! Pls answer !bartleby = 3 max questions 1. If the proceeds of P 2000 will be paid w/ P2400 at the end of 10 months, find the discount rate. 2. At certain interest rate compounded quarterly, an amount worth P8000 will be P20000 after 5 yrs. How much would it be at the end of 10 years? 3. For a deposit of $1023 at 7.8 % interest compounded continuously over 4 years, find the interest earned?To accumulate a fund of P 80,000 at the end of 10 years, a man will make equal annual deposits in the fund at the beginning of each year, How much should he deposit if the fund is invested at 5% compounded annually?
