Juliana opened a savings account with $467. The savings account compounds the interest annually and after 12 years the balance in the account was $636.92. What is the annual interest rate, r, for this account?
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- 1. RM X was deposited in a savings account at 4.8% interest compounded monthly. 56 months later, RM4200 was withdrawn from the account and the balance was RM3903.32. Using S=P(1+i)^n. No use excel. Find the value of X.(RM6480)You have just deposited X dollars in your bank account that pays interest of 6 percent p.a. You discover that at the end of one year you have $ 10,044 in the account. What was X, that is, the amount of money that you deposited today? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).4. A sum of money,RM Z was deposited in a savings account with interest 8% compounded quarterly.After one year,RM2000 was withdrawn.Three years after the withdrawal, the balance was RM 12865.29.(No use excel) Find the value of Z. (RM11219.35)
- Salma Corporation sells on terms of net/90. Their accounts receivable are on average 20 days past due. If annual credit sales are P800,000, what is the company’s average investment in accounts receivable? choose the letter of correct answera. P44,444.00b. P144,444.00c. P224,444.00d. P244,444.00e. P344,444.004. A sum of money,RM Z was deposited in a savings account with interest 8% compounded quarterly.After one year,RM2000 was withdrawn.Three years after the withdrawal, the balance was RM 12865.29. Find the value of Z. (RM11219.35)If you deposit RM15,00O in an account earning 18% with quartely compounding how much would you have in the account after 6 years? A. RM43,140.21 B. RM32,768.89 C RM41,657.90 D RM11,265.90
- 4. The interest rate on a savings account is 3%. Youdeposit £100 today, then £100 at the end of the firstyear, and £100 each year until the end of year 10. Youwithdraw x at the end of year 11, and then x each yearuntil the end of year 15 when the final withdrawal ismade. What value of x will empty the account after thefinal withdrawal? A: 250 B: 260 C: 270 D: 2801. What balance will be in an account at the end of 10 years, if € 3 500 is deposited today and the account earns 3,5% annual interest, compounded a) monthly? using TVM functions mannully Principal Interest rate Time period Compounding frequency Total number of compounding periods Interest per period Total Interest earned Final balance = FV Final balance = FV (EUR) (as a decimal) (number of years) (times per year) (as a decimal) (EUR) (EUR) (EUR) 3,500 0.035 10 1 10 0.0350 1,437.10 4,937.10 4,937.10 3,500 0.035 10 2 20 0.0175 1,451.72 4,951.72 4,951.72 3,500 0.035 10 4 40 0.0088 1,459.18 4,959.18 4,959.18 3,500 0.035 10 12 120 0.0029 1,464.21 4,964.21 4,964.21A loan of 109,517.20 is being repaid with level annual payments of Kat an annual effective interest rate of 5%. The principal repaid in the20th payment is 61.Determine K. Using Actuarial Notation
- 4. The interest rate on a savingsaccount is 3% . You deposit£100 today, then £100 at theend of the first year, and £100each year until the end of year10. You withdraw x at the end ofyear 11, and then x each yearuntil the end of year 15 when thefinal withdrawal is made. Whatvalue of x will empty the accountafter the final withdrawal? A: 250B: 260 C: 270 D: 280Problem =at: Two accountr 9ach began with s deposit of $10.000 . Bosh accountr have rates of 6,5% , bur one account compounds intereat once a year while the bthes wccount compounds intereit concinususty. Make a table that ahowz the amount in each account and the interest earred after one year five years ten jears, and 20 yearz. Round ALL Values is the nearest Dodar ANO DO NoT incluet Doliarsignt?7. Qiang invests RM255 every month in an account that pays 6.75% interest compounded monthly. Find the amount in the account after 60 months. No use excel (RM18138.54)