Many years ago, Julie deposited $14,490 into a savings account. Today, the balance of the account is $62,625. How long ago did she make the initial deposit if the annual interest rate on the account is 5 percent?

Q: How much money will be in a bank account at the end of 15 years if $100 is deposited today and the…

A: Compounding interest means the interest is calculated for the principal and after each period the…

Q: 1. Twenty percent when compounded quarterly will have an effective rate of

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Q: Interest can be computed more frequently than one time a year Select one: O True O False

A: Interest is the price of money that is borrowed.

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Q: How long will Mr. Gutierrez earn ₱750,000 if he wants to invest by depositing ₱13,315.42 at the end…

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Q: How much money will be in a bank account at the end of 15 years if $100 is deposited today and the…

A: Deposit refers to the amount of money that is kept in the bank for safekeeping. Banks pay interest…

Q: David is planning to contribute $8,000 a year into a mutual fund that earns an average of 8% per…

A: In economics, present value refers to the current value of future steam of cash flow. Future value…

Q: If you borrow $3,000 at 6% simple interest per year for seven years, how much will you have to repay…

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Q: A man wishes to have $ 40,000 in a certain fund at the end of 8 years. How much should he invest in…

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Q: You have deposited your $20000 lottery winnings in an account that pays 8%interest compounded…

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Q: You can invest in an account that pays simple interest or an account that pays compound interest. In…

A: We need to solve the simple interest amount as well as compounding interest amount with given…

Q: Determine the current yield on a bond with a $200 annual interest repayment as well as a $1,550…

A: Bonds are a type of debt instrument that stand in for loans given to the issuer. Bonds are a…

Q: If you purchase $24,000 in U.S. Treasury Bills with a discount rate of 4.9% for a period of 26…

A: Interest for 26 week = Principal * Discount Rate * (26 / 52 ) = 24000 * 0.049 * 0.50 = 588

Q: How many years will it take an investment to triple if the interest rate is 8%compounded?

A: The rule of 115 can be used to calculate the number of years that take an investment to triple.

Q: Calculate the price of a zero-coupon bond that matures in 20 years if the market interest rate is…

A: We know that,  The Price of a zero coupon bond = F / (1+i)n Where, F = Face value, i = Rate or yield…

Q: You are going to invest $1,500 today in a fund today. After 10 years, you want to have exactly…

A: Principal = $1,500 Time =10 years Amount =$2,500 or Principal1+R10010=2500or 15001+R10010=2500or…

Q: You plan to deposit $300 each year into an IRA earning 4% interest annually. How much will you have…

A: In enginnering economic, all the given information is denoted with specfiic symbols such as: Yearly…

Q: If you borrow $ 30,000 at 6% simple interest per year for seven years, how much will you have to…

A: Simple Interest = (Principal * Rate * Time) / 100 ie SI = (P * R * T) / 100 Amount = Principal +…

Q: A $10,000 bond with a coupon rate of 1% and a yield of 2% will pay a yearly interest amount of:

A: Given the bond price = $10000 Coupon rate = 1% Yield = 2%

Q: Frank purchased his house 16 years ago by taking out a 25-year mortgage for $150,000. The mortgage…

A: The term mortgage refers to a loan used to purchase or maintain a home, land, or other types of real…

Q: 15,000 =(1+r) 3500+24000 How do I find what is interest (r)? Please provide an breakdown of…

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Q: How much money will be in a bank account at the end of 15 years if $100 is deposited to day and the…

A: From given information we have to calculate the amount that will be in bank account after 15 years…

Q: What series of equal annual payments is equivalent to a series of decreasing payments as follows:…

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Q: e interest rate on an account is 11.5% compounded yearly, approximately how many years will it take…

A: The formula is used to calculate the number of years : Here "A" is the amount in the account after…

Q: Twenty years from now, Angelo plans to buy a new motorbike worth BD10,000. The current rate of…

A: FV = 10,000 r = 8% n = 20

Q: A man bought an eqpt costing P500k payable in 20 semi annual payments with i = 12% , determine each…

A: Compound interest, also known as Interest on Interest, is interest that is added to the interest…

Q: How much will be in a bank account at the end of five years if $2000 is invested today at 12 percent…

A: Answer: Given, Principal = $2000 Interest rate per annum = 12% Number of years = 5 The following…

Q: You take out a loan of $12,000 to pay for a piece of equipment. You plan to repay the loan in 16…

A: Suppose you want to pay the first installment at the end of the year. So 16 equal payments of $1100…

Q: Rashed wants to make his investment triple its value at the end of twelve (12) years’ time. What…

A: We need to assume some terms such as interest rate , principle amount and then nee dto calculate the…

Q: Assume that a 24-month CD purchased for $3000 pays an APY of 4.25% (and of course interest is…

A: I have assumed that it is compounded monthly.  number of compounding periods: nlength of time: 2 (…

Q: Calculate interest on a 90-day $5,000

A: Given,  Time = 90 days (consider 360 days in a year) Interest = 11% Principal = $5000

Q: How much should I deposit in a trust now (time zero) if it has to yield $100,000 at time zero,…

A: Future Value (FV) An asset's future value (FV) can be calculated using an expected rate of increase.…

Q: How much is accumulated in each of the savings plans over two years? a. Deposit €1300 today at 10…

A: Compounded annually formula: A = P (1 + r)t Where A is the future value P is the principal amount…

Q: accounts. How much will Mr. Jones have in his savings account in thirteen years if $50,000 is put in…

A:

Q: Find the present worth of a perpetuity of 1,000 annual payments with interest of 6%

A: According to the question, perpetuity is of 1000   at the interest rate 1% Present value is the…

Q: Find the present value of $750 to be paid four years from now when the prevailing interest rate is…

A: Present value (PV) is the current value of a future sum of money or stream of cash flows given a…

Q: A loan of P7000 is made for a period of 15 months at a simple interest rate of 15%. What future…

A: The two methods used to calculate the interest on loans are simple interest and compound interest.…

Q: How many years would it take to take an investment of $28,000 to double 11% annual interest?

A: Present amount is 28000 and future amount is 2*28000 with rate of interest of 11%

Q: If $10,000 is invested in an account at United Mutual fund for 18 years, earning 10% compounded…

A: The future value of an investment is the compounded value of the investment which is compounded on…

Q: How much is accumulated over two years in each of the following savings plans? a. $60 at the end of…

A: Accumulated deposits refers to the sum that is to a member's credit as a result of the deposits that…

Q: What is the yield to maturity on a simple loan for $5 million that requires a repayment of $9…

A: Yield to maturity is close to the current yield in that it divides annual cash inflows from a bond…

Q: A 5-year ordinary annuity has periodic cash flows of $100 each year. If the interest rate is 8…

A: In economics, present value refers to the current value of a future stream of cash flows. Future…

Q: Inez wants to have $13,500 in 5 years. Use the present value formula to calculate how much Inez…

A: Compound interest (or compounding interest) is the interest on a loan or deposit calculated based on…

Q: A man may take $50000 cash or 10 equal monthly payments on a life insurance policy, where the first…

A: Step 1 Monthly payment concept insurance: The monthly installment for any lump sum payment is the…

Q: You want to save the down payment required to purchase a vacation home at the end of five years. If…

A: Given: Down payment=$25000 Interest rate=5% To find: Amount to be set aside at the end of each year…

Q: What type of interest is obtained when the nominal interest rate is divided by the number of…

A: Nominal interest rate is the cost of borrowing for the person who borrow money and income for , who…

Q: ) If we invest money for 10 years at 8 percent interest, compounded semiannually, we are really…

A: Interest rate per six month (i) can be calculated as follows.