If you put 1,000 in a savings account that yields an 7℅ annual rate of interest that is compounded weekly, how much would that be worth in 25 weeks?

Q: How much should you invest into an account with 3.2% interest compounded quarterly if you want to…

A: We need to use the concept of time value of money to solve the question. According to the concept of…

Q: You borrow $10,000 from a bank for three years at an annual interest rate, or annual percentage rate…

A: The rate that is charged at an annual basis on the borrowing funds as well as earned annually on…

Q: If you take out a 4 year loan for $16,500 at your bank and pay the quarterly payments for the 4…

A: Total interest is = total payments - loan

Q: A sum of money is deposited now in a savings account. The effective annual interest rate is 12% and…

A: Given, Amount (A) = P8,000 Principal (P) = ? Interest rate (i) = 12% Number of times compounded (n)…

Q: Suppose you borrow 11,000 for 5 years at 6% towards the purchase of a car. What would be the monthly…

A: The computation of monthly payments:Hence, the monthly payment is 212.66.

Q: . Suppose you have a bank account into which you make $100 deposits each month. You find a bank…

A: Periodic Payment = $100 Future Value = $2,000 Time Period = 15 Months

Q: You expect to have $1000 in one year.  A bank is offering loans at 6% interest per year, how much…

A: Given: Money invested today (C)= $1000 Interest rate (r) = 6% =0.06 Number of years (n) = 1

Q: at period of time could you pay back a loan of $3000 by making monthly payments of $110 if interest…

A: Loans are paid by the equal amount of monthly payments these payments carry the payment of principal…

Q: How much the monthly payment on a $114,000 home be if you get 4.1% interest over a 15 year loan with…

A: Here, Loan Amount is $114,000 Interest Rate is 4.1% Time Period of Loan is 15 years Compounding…

Q: Suppose you buy a $40,000 car and you 'put down' $5,000 and finance the rest for 72 months at 3.75%…

A: Solution:- When a loan is taken, the amount can be repaid as a lump sum payment or in instalments.…

Q: Suppose you have accumulated $22,000 in credit card debt. If the interest rate on the credit card is…

A: Present Value = Annuity * PVAF (Periodic rate, Number of Periods )

Q: How much do you need to invest in an account earning an annual interest rate of 3.493% compounded…

A: The present value of an investment refers to the sum amount of money that will be required today in…

Q: How much should you deposit each month in order to save $20,000 in five years? The account you will…

A: Details: RATE (5.75%/12) 0.479167% PERIOD  (12*5) 60 PRESENT VALUE $0 FUTURE VALUE $20,000

Q: Suppose you put $200 into a bank account at the annual interest rate of 7%.  *Round your answer to…

A: In this we have to find the future value of given value.

Q: Suppose you have decided to put $2000 in a savings account that credits interest at the annual rate…

A: Solution: An amount invested earns interest over it. So, we have, FV = PV (1+i)t where, FV = Future…

Q: If you want to have $22,431 in fifteen years, how much do you need to deposit in a bank account…

A: The deposit required to be made today can be calculated as the present value

Q: If you borrow $24398 with an annual rate of 9% compounded monthly and make a payment of $282 every…

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

Q: What's the future value of an initial $100 after 3 years if it is invested in an account paying 10%…

A: Given: Initial deposit = $100 Time =3 years Interest rate =  10% Future value = Initial deposit* (1…

Q: Solve the attachment

A: The amount to be paid at the end can be calculated by adding interest to the opening balance. The…

Q: how much money must you put in a savings account today?

A: PV is the money value in today’s terms which is to be received at some future date whereas FV is the…

Q: Suppose you decide to deposit $11,000 in a savings account that pays a nominal rate of 6%, but…

A: The interest rate that did not take inflation, any fees on the loans, and compounding of the…

Q: If you put $850 in a bank today that pays (a) 13% interest per year, how much money could be…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: Suppose you have decided to put $200 at the end of every month in a savings account that credits…

A: Future value of annuities includes the amount being deposited and amount of compounding interest…

Q: You deposit $5,000 in a savings account that earns 6% simple interest per year.How many years will…

A: We can use excel spreadsheet to solve this problem.

Q: You invest $5,000 into a money market account that pays interest monthly (e.g., interest is…

A: Future Value = Present Value * (1+r)^n Where, n = no. of compounding period i.e. 3 years * 12 = 36 r…

Q: Suppose you found a CD that pays 2.9% interest compounded monthly for 5 years. If you deposit…

A: 1) FV = PV * (1 + r / m)m*n FV = future value PV = present value = $12,000 r = rate of interest =…

Q: uppose you buy a home and finance $285,000 at $2,233.17 per month for 30 years. What is the amount…

A: Interest paid = total payment - financed amount

Q: Suppose you have decided to put $200 at the beginning of every month in a savings account that…

A: Compound Interest Formula: Future Value of Annuity (A)=P×1+rnn×t-1rn Where, A=final amountP=initial…

Q: Suppose you want to save $220,000 for retirement. You will do so by putting monthly deposits into an…

A: Retirement planning involves the set of activities that determines the income goals that an…

Q: Suppose you have decided to put $500 at the beginning of every month in a savings account that…

A: Monthly deposit (m) = $500 Monthly interest rate (r) = 0.00416666666666667 (i.e. 0.05 / 12) Number…

Q: If you invest $1,000 in an account that pays an annual interest rate of 6.4%, compounded monthly,…

A: Computation:

Q: How long will it take to pay off a loan of ​$47,000 at an annual rate of 8 percent compounded…

A: Solved using Financial Calculator  PV =  47,000 PMT = 650 I/Y = 8/12 = 0.6666666667 CPT N = 99.0104…

Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 10% interest. How…

A: Future Value   $  6,00,000.00 Time Period 25 Interest Rate 10%

Q: If you put 20,000 in a savings account that pays interest at the rate of 4% compounded quarterly,…

A: Compound interest also called interest on interest. It is the addition of interest in the principal…

Q: Suppose you buy a home and finance $255,000 at $2,223.17 per month for 30 years. What is the amount…

A: Given: Finance amount = $255,000 Payment per month = $2,223.17 Years = 30

Q: Suppose your savings account pays 6% interest compounded monthly. If you deposit $18,000 forfour…

A: Time value of money (TVM) means that the money received today will be worth more than the money…

Q: Suppose you found a CD that pays 2.9% interest compounded monthly for 6 years. If you deposit…

A: Deposit money (P) = $12000 Compound interest (r) = 2.9% compounded monthly  Time (nt) = 6 years =…

Q: Assume you just deposited $1,000 into a bank account. The current real interest rate is 2% and…

A: Given data; Deposit amount = $1000 real interest rate = 2% inflation rate = 6%

Q: How much money should be invested in an account that earns 9.5% interest, compounded monthly, in…

A: It can be calculated using following formula PV = FV / (1 + r / n)nt Where, PV = Present value FV =…

Q: What would be the value of a savings account started with $1,200, earning 3 percent (compounded…

A: We need to calculate the value of the account after 10 years by using future value of a single…

Q: Suppose you decide to deposit $18,000 in a savings account that pays a nominal rate of 6%, but…

A: In order to take investment decisions, the investor will look forward for evaluation. The evaluation…

Q: If you borrow $1,000 and pay back $1,728 in three years, what annual rate of interest are you…

A: Annual Percentage rate (APR) is the percentage rate that shows the interest calculates on the…

Q: How much would be in your savings account in 11 years after deposting $150 today if the bank pays 8…

A: Given: Present value (PV) = $150 Rate of interest (r) = 8% = 0.08 Number of years (n) = 11

Q: If you have $50,000 in an interest-bearing savings account that pays2 percent annual interest, how…

A: Present value = 50000 Interest rate = 2% Days = 30  Assume 365 days in Year

Q: What is the initial amount, rounded to the nearest cent, that you would need to invest into an…

A: Present Value is the current value of all the cash flows which is to be received in the future which…

Q: You invest $5,000 into a money market account that pays interest monthly (e.g., interest is…

A: The future value is the amount that will be received at the end of a certain period. In simple…