Juan's retirement fund has an accumulated amount of $50,000. If it has been earning interest at 3.51% compounded monthly for the past 20 years, calculate the size of the equal payments that he deposited at the beginning of every 3 months.

Q: Find the present value of an annuity of $5000 paid at the end of each 6-month period for 2 years if…

A: Solution

Q: How much more is a perpetuity of $2,000 worth than an annuity of the same amount for 10 years?…

A: Formula using here,  PV of perpetuity =Amountinterest rate =20004%=$50,000

Q: A student wants to save up to purchase a P105,000 property in cash at the end of 5 years. If he…

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Q: If $90,000 is invested in an annuity that earns 5.9% compounded quarterly, what payments will it…

A: Solution

Q: A debt of $7000 is to be amortized with 10 equal semiannual payments. If the interest rate is 5%,…

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Q: What amount must be set aside now to generate payments of $30,000 at the beginning of each year for…

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Q: If Karen makes an initial deposit of $200000 into a fund, which offers and annual interest rate of…

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Q: The sale of a property provides for payments of $6,000 due at the beginning of every three months…

A: Quarterly payment =$6000 Quarterly rate =2.266917% The effective rate for 3 months 1+0.09123 Number…

Q: Suppose you borrow $7,500 from a bank that charges 4% interest compounded monthly. How much will you…

A: From the given information, it is observed that the Principal is P = $7500, the rate of interest is…

Q: The Pirerras are planning to go to Europe in 3 years, and have agreed to set aside $150 per month…

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Q: The Pierras are planning to go to Europe 3 years from now and have agreed to set aside $180/month…

A: Given  The periodic payment $180 per month Periodic interest rate is 2%/year periods per year is 12…

Q: A man purchases a $2000 diamond ring for a down payment of $200 and monthly installments of $88 for…

A: Given: Cost price of diamond ring, P = $ 2000 Down payment amount = $ 200 Monthly installment = $88…

Q: After putting down 20% of $110,000 on a house and paying an interest rate of 3.5% compounded…

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Q: Find the amount of an ordinary annuity if P3,500 is payable every three months for 6 years and 6…

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Q: Today, Lucia made a down payment of ₱125,000.00 for the purchase of a new automobile. If she is…

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Q: The Jones want to save $51,000.00 in 2 years for a down payment on a house. If they make monthly…

A: FV=PMT1+rnnt-1rn FV=51000 t=2 years r=3%=0.03 n=12 for a monthly payment

Q: Find the final amount (rounded to the nearest dollar) in this retirement account, in which the rate…

A: Consider the given information:

Q: Find the amount of an annuity due that consists of 13 monthly payments of $150,provided that the…

A: Given R=$150 n=13r =6%=0.06 To find the amount of an annuity due

Q: If you finance $15,000 for 3 years at 6% compounded monthly, the monthly payments will be…

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Q: A debt of $9000 is to be amortized with 6 equal semiannual payments. If the interest rate is 7%,…

A: A debt of $9000 is to be amortized with 6 equal semiannual payments. If the interest rate is 7%,…

Q: Find the lump sum deposited today that will yield the same total amount as payments of $14,000 at…

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Q: Find the time (rounded up to the nearest month) that it takes to pay off a loan of $100,000 at 6%…

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Q: Find the amount of an ordinary annuity of 20 semi-annual payments of P1, 000 if interest rate is 12%…

A: To find The amount of an ordinary annuity.

Q: How much loan will be extinguished for a monthly amortization of P4, 500.00 at 12% interest…

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Q: Two payments of $14,000 and $6,200 are due in 1 year and 2 years, respectively. Calculate the two…

A: Given that, Two payments of $14.000 and $6,200 are due in 1 year and 2 years, respectively.  We have…

Q: How much is the original loan if semi-annual payments of $100,000 are used to repay it at 5%…

A: r= 5% A = amount to be paid =$100,000 P = original amount  t= 8 years

Q: Calculate the amount of money Melanie had to deposit in an investment fund growing at an interest…

A: Calculate the amount of money Cody had to deposit in an investment fund growing at an interest…

Q: In order to accumulate enough money for a down payment on a home, a couple deposit $300 per month…

A: Given, PMT = 300 r = 6% = 0.06 m = 12 t = 5 i=rm=0.0612=0.005 n = mt = 12(5)=60

Q: Find the present value of $30,000 due in 6 years at an interest rate of 8%/year compounded monthly.

A: Given:Find the present value of $30,000 due in 6 years at an interest rate of 8%/year compounded…

Q: If you take out a 5 year loan of $8000 at 6% interest compounded monthly, then what will be each…

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Q: If you take out a 5-year loan for $10,000 at 3% interest compounded monthly, what is the size of…

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Q: An employee is entitled to a 10 yearly grant of 25,000 pesos each starting at the end of the…

A: In  the question it is given that an employee is entitled a 10 yearly grant of 25,000 pesos starting…

Q: Harlan made equal payments at the end of each month into his RRSP. If interest in his account is…

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Q: What is the present value of an annuity that consists of 30 monthly payments of $300 at an interest…

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Q: An interest-bearing note for P75,000 requires payment at the end of each quarter for four years. If…

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Q: What is the cash value of a lease requiring payments of $1,362.00at the beginning of every year for…

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Q: What is the purchase price on a car that has a $264 monthly payment for 5 years, financed at 8% per…

A: The purchase of a car that has a $264 monthly payment for 5 years, financed at 8% per year,…

Q: In order to have a fund of 1,000,000 at the end of 12 years, equal deposits every six months must be…

A:

Q: Suppose you want to borrow $20,000 for a new car. You can borrow at 6% per year, compounded every…

A: P = monthly payment PV = loan amount r = rate of interest n = number of periods

Q: Find the periodic payment which will amount to a sum of $13000 if an interest rate 7% is compounded…

A: FV=$ 13000i=7% annually=0.07 annuallyAs t=9 years so, N=9

Q: If a loan P120, 000.00 is to be amortized for 2 years at 12.5% interest compounded monthly, how much…

A: The monthly payment amount can be defined as follows:

Q: As part of her retirement planning, Mrs. Campbell purchases an annuity that  pays 5% compounded…

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Q: A bank is offering a special four-year investment certificate paying 3.5% per year, compounded…

A: We can solve it by the mathod of finding compound interest.

Q: 12,500

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Q: Calculate the amount of money Kayla had to deposit in an investment fund growing at an interest rate…

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Q: Find the periodic payment which will amount to a sum of $6000 if an interest rate 7% is compounded…

A: Recall the following fact.

Q: A furniture set worth of 40000 is purchased with a down payment of 15000 then followed by equal…

A: we have to find compound interest here

Q: When the Lee family bought their home, they borrowed $115,700 at 3.25% compounded monthly for 20…

A:

Q: What is the purchase price on a car that has a $350 monthly payment for five years, financed at 6%…

A: Given query is to find the purchase price of the car.

Q: As part of his retirement planning, Mr. Jones purchases an annuity that pays 6.5% compounded…

A: Compound interest Formula is A = P(1+r/100)(n) where,  A = the future value of the investment P =…

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.