If you want to earn 7% annual simple interest on an investment, how much should you pay for a note that will be worth $10,500.00 in 2 months. You should pay $

Q: Your friend plans to invest $1,000 per month into an account expected to have an effective annual…

A: Here, EAR is 6.2% Monthly payment (PMT) is $1,000 Required Amount (FV) is $100,000

Q: You would like to have an accumulated amount of Php 60,000 in a savings account that pays you an…

A: As per the time value of money concept, the present value of an amount is more worth than the…

Q: You have $300 to invest. If you put the money into an account earning 13% Interest compounded…

A: Following details are given in the question : Present value = 300 Time period = 8 years Interest…

Q: You borrow $30,000 for 10 years to pay tuition and fees. The annual interest rate is 12 percent.…

A: Loan amount (PV) = $30000 Interest rate = 12% Monthly interest rate (r) = 12%/12 = 1% Period = 10…

Q: You would like to have ​$   59,000 in   15 years.  To accumulate this​ amount, you plan to…

A: The concept of time value of money tells us that worth of money keeps on changing with passage of…

Q: You are planning to save for retirement over the next 30 years. To do this, you will invest $700 a…

A: Using excel PMT & FV Function

Q: Suppose you currently have $20,000 and plan to purchase a 8-year certificate of deposit (CD) that…

A: Using the Future value and NPER function in excel

Q: You can earn $59 in interest on a $1,000 deposit for eight months. If the EAR is the same regardless…

A: Effective Annual Rate: It refers to the annual real rate taking into account compounding effects.…

Q: If you want to earn 3% annual simple interest on an investment, how much should you pay for a note…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: How much should you deposit at the end of each month into an investment account that pays 9%…

A: As per Bartleby Guidelines, we are allowed to do only one question if multiple different questions…

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: You are considering taking out a loan of 20,000 that will be paid back over 7 years with monthly…

A: Interest amount decreases and the principal paid amount increase as loan payments proceed further.

Q: If you make monthly $500 deposits into your investment account paying 9.58% interest annually, how…

A: Interest is an amount which is received on the deposited amount for the period. It increases the…

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: You have paid $1,000 for an investment that will pay back $1,200 in 3 years. What interest rate does…

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

Q: How long would it take you to double your money in an investment if it earns 5.75% compounded…

A:

Q: , how much interest will you earn on a $1,000 deposit​ for: a. 8 months.

A: Compound interest is computed by multiplying the original principal amount by one plus the yearly…

Q: You invest $10,000 into a money market account that pays interest on a semi-annual basis (e.g.,…

A: We use NPER function in excel by taking present value as 10000 and future value as 20000 and…

Q: If you borrow $9,000 and agree to repay the loan in six equal annual payments al an interest rate of…

A: Present worth is the value of the amount in current time which is expected to be paid or received in…

Q: Would you prefer making a $25,000 investment that will earn interest at the rate of 6 percent…

A: Given: Investment amount is $25,000 The rate of 6 percent The calculation is shown below as,

Q: If you want to earn 5% annual simple interest on an investment, how much should you pay for a note…

A: To solve this question one has to find the present value. Present value is the value of an…

Q: If you want to earn 7% annual simple interest on an investment, how much should you pay for a note…

A: Simple interest is the type of interest that is calculated on the original amount, It is calculated…

Q: If you put 600 in a savings account that yields an 8% rate of interest compounded weekly, what will…

A: Saving account generally charges compound interest on its deposits. Compound interest is referred as…

Q: Your client currently has $7,600 in a 401K investment account. They contribute $200 a month into…

A: Current Value in Account = 7600 Monthly Contribution = 200 Monthly Compounding, Annual Return = 5.3%…

Q: If you want to earn 5% annual simple interest on an investment, how much should you pay for a note…

A: The question is based on the concept of time value.

Q: If you invest $900 in a bank in which it will earn 8 percent compounded quarterly, how much will it…

A: PV = $ 900; r = 8% compounded quarterly; m = frequency of compounding = 4 (as there are four…

Q: Assume you make a single deposit of $1000 into a savings account that pays interest at 0.5% per…

A: Monthly compound interest relates to the compounding of interest on a monthly basis, which indicates…

Q: If you invest $10,000 at an interest rate of 8.00% (annual rate) compounded quarterly, how much…

A: Given: Investment amount = $10000 Rate = 8.00% compounded quarterly To compute the amount of…

Q: You were buying a House for $190,000 with a down payment of $57,000. The loan will be paid back over…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: If $0,000 per quarter is invested in an account that eams a nominal annual interest rate of 9%…

A: The amount in the account at the end of the 6 years is the future value. The nominal annual rate…

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

A: Computation:

Q: If you want to earn 7% annual simple interest on an investment, how much should you pay for a note…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: If you want to earn 3% annual simple interest on an investment, how much should you pay for a note…

A: Interest = Principal * rate * time  Interest =$13500*3%*10/12 Interest = $337.50

Q: You are planning to save for retirement over the next 30 years. To do this, you will invest  K700 a…

A: Time Period 30 Stock Return  10% Bond Return 6% Amount In Stock       K 700.00 Amount In…

Q: Suppose that you have opened a saving account with an initial deposit of $10,000. The account offers…

A: Initial deposit (P) = $10000 Final amount needed (F) = $15000 n = 10 years Let the annual interest =…

Q: If you want to earn 7% annual simple interest on an investment, how much should you pay for a note…

A: We need to calculate the principle value here

Q: Suppose you get a student loan for $8,000, and your payments are deferred until after you graduate,…

A: Present value of Annuity  is the current value of payments made over a specified period of time at a…

Q: To buy a Treasury bill (T-bill) that matures to $10,000 in 6 months, you must pay $9720. What annual…

A: future value = $10000 Mature time = 6 months or 6/12 Principal = $9720 interest amount = future…

Q: Your bank will pay you an interest rate of .097 percent per week. You want to have $22,000 in 10…

A: Given: Interest rate = 0.097% Future value = $22,000 Years = 10

Q: If you want to earn 8% annual simple interest on an investment, how much should you pay for a note…

A: Interest rate (r) = 8% Period (t) = 2 Months Maturity value (FV) = $ 11,100 Amount should pay now =…

Q: You would like to have an accumulated amount of Php 60,000 in a savings account that pays you an…

A:

Q: how much interest are you going to pay after 45 days if you borrowed five 50,000 in a lending…

A:

Q: what will be your monthly​ payment?

A: Sum of money borrowed if not paid immediately, then over a period of time as per agreement is…

Q: If you want to earn 15% annual simple interest on an investment, how much should you pay for a note…

A: The question specifies that the maturity value of note receivable due in 10 months from now will be…

Q: You want to borrow $30,000. For the loan to you must repay $1100 every quarter (4 times per year)…

A: Loan is an agreement between lender and borrower where lender agrees to provide funds to lender for…

Q: If you put $6,000 in a savings account that yields an 1% rate of interest compounded daily, what…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…