Helen has two debts to pay; a $3500 today and a $4500 in 9months from today. How much should she pay if she wants to combine the two payments into one single payment to be paid in 6 months from today if money earns 4.5% p.a. compounding quarterly?

Q: Jesse received a loan of $26,000 from the bank at 5.50% compounded monthly. If he had to repay $300…

A: First we need to find the total tenure of loan. Loan amount = PV of instalments PV = E(1-(1+r)-p)/r…

Q: Nicole loans P900,000 from bank today which gives her 10% interest rate compounded annually. Based…

A: Loan amount (L) = P 900000 r = 10% n = 10 payments Let the annual payment = A

Q: A couple who borrow $60,000 for 25 years at 6%, compounded monthly, must make monthly payments of…

A: Calculate the interest amount for first year as follows: Interest = Amount * Interest rate Interest…

Q: Juan borrows $25,000 at 7% compounded annually. If the loan is repaid in five equal annual payments,…

A: What are installments? Installment is the sum of money to be paid in a particular time frame to pay…

Q: An aunty deposits $10,000 into an account earning 2% p.a. pounded quarterly. She wants a total of 20…

A: An annuity depicts a stream of equivalent periodic cash flows for a specific duration. annuities can…

Q: Hamilton wants to accumulate ₺ 24.000 at the end of 4 years. It starts quarterly payments in a bank…

A: Amount at the end of 4 years = 24000 Total Terms(n) = 4*4 = 16 quarters Anbuak rate =6% Quarterly…

Q: You decide to make regular deposits every 2 weeks into an account that earns 5% annual interest,…

A: The future value of the deposits is $29,000. The annual interest rate is 5%. The maturity period is…

Q: 1. If money is worth 5% compounded quarterly, how much must Julea save every end of three months to…

A: Here we will use the concept of time value of money. As per the concept of time value of money it is…

Q: You deposit $23,000.00 in an account that pays 4% compounded annually and immediately start making…

A: In this question future value would also be find out so that payment per year can be find out.

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: Clara borrows $41,000 today at 2.9% per year compounded quarterly, to start her own buisness. she…

A: In this question we need to compute the Clara's quarterly payments from following details: Loan…

Q: Clara borrows $41,000 today at 2.9% per year compounded quarterly, to start her own buisness. she…

A: Given, Loan amount (p) = $41,000 Interest rate (r) = 2.9% Number of compounding periods (m) = 4…

Q: Tshepo needs R5 000 urgently. He goes to the bank and borrows the money at an interest rate of 28%…

A: Compound interest is the interest earn on interest. The rate at which compound interest accrues…

Q: Suppose a young couple deposits $700 at the end of each quarter in an account that earns 7.2%,…

A: Here, Deposit for the first three years is $700 per quarter Deposit after three years for the next…

Q: Buhle wants to save R330 284,00 within the next four years. She makes equal monthly deposits at the…

A: given, future value = R330 284,00 r=12.5% m=12 (monthly compounding) n = 4 years

Q: You borrow $1,000,000 at 3% compounded semi-annually and will pay it off over bi-weekly (every two…

A: Amount borrowed= $1,000,000 Rate= 3% compounded semi-annually Time (n)= Bi weekly over 25 years

Q: A couple who borrow $60,000 for 15 years at 8.4%, compounded monthly, must make monthly payments of…

A: Loan is a value which is borrowed from external sources like banks and this amount is repaid later…

Q: If Phil borrows $40,000 from a loan company at an interest rate of 6.5% per year compounded weekly,…

A: Here, Loan amount = $40,000 Quarterly payment of the loan = $800 Interest rate = 6.5% compounded…

Q: You borrow $1,000,000 at 3% compounded semi-annually and will pay it off over bi- weekly (every two…

A: There are two methods to charge interest on the loan taken. One is the simple interest method and…

Q: Suppose a young couple deposits $900 at the end of each quarter in an account that earns 7.6%,…

A: This question is an application of annuity. The future value of an annuity with equal periodic…

Q: A) Suppose a young couple deposits $700 at the end of each quarter in an account that earns 7.6%,…

A: Future Value: The value of any asset at some future date which is computed using an assumed rate of…

Q: A couple who borrow $80,000 for 15 years at 7.2%, compounded monthly, must make monthly payments of…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: Sam takes out a loan for $3,685.50. The term of the loan is 7 years, and she will make bi-weekly…

A: Interest rate for the given periodic payment is calculated by RATE function in excel, where PV is…

Q: Charmaine has just purchased an apartment at a price of $10 million. She made a down- payment of $4…

A: Loan amount (L) = $6 million n = 15 years = 180 months r = 3% per annum = 0.25% per month Let M =…

Q: Suppose a young couple deposits $900 at the end of each quarter in an account that earns 6.2%,…

A: Given that  p= $ 900 deposited each quarter  r = 6.2% compounded quarterly after 9 years  p= $ 200…

Q: Kyle was supposed to pay Erin $6,700 6 months ago and $720 in 5 months. If he wants to repay this…

A:

Q: A. Zoey deposits $500.00 every quarter into an account earning 5% interest compounded quarterly. How…

A: The time value of money is the concept widely used to determine the correct worth of the sum to be…

Q: Nadhirah needs to pay RM168.28 every month for a loan of RM7,000 from XYZ Bank at 7.2% compounded…

A: Given, The monthly payment is RM 168.28 Loan amount is RM 7000 Rate is 7.2% compounded monthly

Q: er deposits P15,500 each quarter in a savings bank paying 12.5% compounded quarterly. If she desires…

A: Future value of amount include the amount being deposited and interest being accumulated over the…

Q: You deposit $27,000.00 in an account that pays 4% compounded annually and immediately start making…

A: Given:

Q: Mary wants to have $14000 for a trip to Mexico in five years. How much does she need to deposit at…

A: The future value of annuity would be considered the value accumulated in future with a view to…

Q: Jun has decided to save money roughly P25 per week. Suppose he makes weekly deposits of this money…

A: Compounding is also termed as an interest on interest which means that a company calculates interest…

Q: At the end of each quarter, Patti deposits $1,600 into an account that pays 12% interest compounded…

A: Deposit amount = $1600 Interest = 12% Compounding = Quarterly Quarterly interest rate = 12%/4 = 3%…

Q: payment

A: Monthly payments are nothing but the payment which has to be made by the borrower every month. The…

Q: A couple who borrow $70,000 for 15 years at 8.4%, compounded monthly, must make monthly payments of…

A: formula for remaining balance: remaining balance=princial×1+rmn-pmt×1+rmn-1rm where, r = rate of…

Q: Gary has decided to save RM150 a month for 4 years. How much will be the balance in the account if…

A: In compound interest money grow with time as there is interest on the interest.

Q: a) Parents wish to provide $40,000 for their child to assist with her education. They deposit $200…

A: Future Value Required = 40,000 Deposit = 200  End of month deposits Monthly Compounding, Number of…

Q: Catherine obtained a loan of $40,000 at 4.5% compounded monthly. How long (rounded up to the next…

A: Solution:- When a loan is taken, the borrower is given the option whether to repay it in…

Q: A couple who borrow $70,000 for 15 years at 8.4%, compounded monthly, must make monthly payments of…

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

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: ) Bianca takes out a 23-year home loan of $750,000 at the interest rate of 3% p.a. compounded…

A: Given: Particulars Amount Borrowed(PV) $750,000 Years 23 Interest rate 3.00%

Q: An uncle has deposited $10,000 into an account that is paid quarterly at an annual rate of 2%. The…

A: The present value of the annuity is the current worth of a cash flow series at a certain rate of…

Q: Jason's loan for $8500.00 is repaid by equal payments of $525.00 that are made at the end of every…

A: The formula for effective rate is: i=q1+rmmq-1Where, q is the new compounding and m is the old…

Q: Jenny has borrowed P 30000 in 1 year and P 80000 due in 5 years. She must pay P 50000 today and the…

A: Interest rate = 6% compounded semiannually Let the amount borrowed in year n = Bn and the amount…

Q: Phoebe realizes that she has charged too much on her credit card and has racked up $6,000 in debt.…

A: Here, Present Value is $6,000 Monthly Payment (PMT) is $200 Interest Rate is 18% Therefore, Monthly…

Q: Lina borrowed 5000 at 8% compunded monthly.  She must begin to repay it at the end of this month and…

A: Ordinary annuity refers to the series of periodic payments that a borrower has to make regularly to…

Q: In 5 years a couple would like to have $25,000 for a down payment on a house. What fixed amount…

A: Given: Accumulated amount (A)=$25000compound interest rate (r)=9%No. of times compounded in a year…