If a student makes monthly deposits of $1,000 into an account with a nominal annual interest rate of 4.5% compounded quarterly, will he have enough after 5 years to purchase a $105,000 property in cash? USE: Non-Annual Compounding

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A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…

Q: iii) Someone borrows $ 45,000 at a rate of 20% per annum and after one year begins to pay annual…

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A: Given:

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A: In the given question we need to compute the future value after 9 years, 6 months.

Q: Jeffery wei received a 6 year non subsidized student loan of 30,000$ at an annual interest rate of…

A:

Q: Angelica Riordan received a four year non-subsidized student loan of $15,000 at an annual interest…

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Q: You borrow $8000 to help pay your college expenses. You agree to repay the loan at the end of 7…

A: The formula to compute maturity value of the loan as follows: A=P×1+rnnt

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A: INFORMATION : MONTHLY COMPOUNDING RATE (3%/12) 0.25% YEARS (5*12) 60 PMT (MONTHLY WITHDRAW)…

Q: Using the situations provided in Exercise 1, compute the annual interest, total interest and amount…

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Q: A bank offers a 12% interest to be compounded annually. How much should a teacher deposit now if he…

A: Present value is the value of future cash flows discounted at a specified interest rate for a…

Q: 1. An employee obtained a loan of P 10,000 at the rate of 6% compounded annually in order to build a…

A: Since you have asked multiple questions, we will solve the first question as per policy. Please ask…

Q: A property worth $21.5M is purchased with a $5M down payment. The balance is to be paid monthly in…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: You plan to prepare for retirement by making monthly contributions $1,500 to a savings account that…

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Q: In the situation where Ahmad are depositing $1,000 per month in a savings account that pays 6…

A: Payment period is the no. of times money is deposited in a year. compounding period is the no. of…

Q: Diane invested $4500 in an account that pays an annual interest rate of 3.7%, compounded monthly.…

A: Amount in the account after one year= $ 4669.35 Effective rate of interest = 3.76%

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A: Present Value = $30,000 Interest Rate = 5.9% Time Period= 6 Years Loan Start after 4 Years

Q: A bank offers a 10% interest to be compounded annually. How much should a teacher deposits if he…

A: Kindly refer the image attached below for solution.

Q: You invest $2,300 in a 4-year certificate of deposit (CD) that pays 3.2% interest, compounded…

A: In this question we need to compute the future value at the end of year 4.

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Q: loan

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Q: present value of the  investment if the rate of interest is 12% compounded semi-annually?

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A: Cash flow diagram is needed.

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.