Mark deposited P1,200 in an account that pays 3 4% compounded monthly. He continues to deposit the same amount every end of the month. If the first deposit was made on June 1, 2017, how much is in the account just after the deposit is made on December 1, 2027?

Q: Karen owns a rental house in Ruston. Her policy requires the renter to make an initial deposit equal…

A: According to the information, the initial deposit is made on February 1, 2018 post which payments…

Q: On October 1, 2021, Pastina signed a $50,400 note that requires interest to paid annually on…

A: Journal Entry is record of a transaction in accounting records. Signing of Note is a liability for…

Q: What amount should he pay if he decides to settle it on June 20th, 2017 instead? The interest rate…

A: Present value refers to the current valuation for a future sum. Investors determine the present…

Q: every six months, mahmood deposit $800 into an account paying 6% compounded semiannually. find the…

A: Present value (PV) = $800 Rate (r) = 6% or 0.06 Semiannually rate (r) = 0.0.3 (0.06/2) Time (n) = 30…

Q: 2. On January 1, 2022, Marites deposited P15,000 in a bank that offered 2.5% annual interest…

A: Steps to be followed: For each month calculate the interest amount on the balance including…

Q: Sam Monte deposits $21,500 into Legal Bank, which pays 6% interest that is compounded semiannually.…

A: Using excel PV function

Q: Kevin made an inital deposit on 1-1-12 into an account that earns 1.88% interest compounded…

A: Given information : Rate of interest = 1.88 % Withdrawals by kevin = $ 2152.85 Initial investment =…

Q: Adrian received the proceeds from an inheritance on May 14. He wants to set aside enough on May 15…

A: Simple interest is calculated directly on the given principal amount. The formula for calculating…

Q: On February 1, 2022, Mr. X promised to pay Ms. Y the amount of ₱10,000.00 at an annual rate of 6%.…

A: Note payable is a form of promissory note which is a promise given by one person to another person.…

Q: Heather owes Mark $10.000 payable on September 2021. If money can earn 12 %, what amount should Mark…

A: Accrued Interest- Accrued interest refers to the interest that has not been paid however has already…

Q: 1. Robert is expected to settle a loan on January 1st, 2018 by paying $8,000. What amount should she…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: Ritcher decided to deposit  $ 875  from May 29, 2013 to August 13, 2013 at 11.5 % per annum. Compute…

A: Given data; Deposit amount = $ 875 interest rate = 11.5% deposited on = May 29, 2013 Withdrawal on =…

Q: Gabe opened an RRSP deposit account on December​ 1, 2008, with a deposit of ​$2000. He added ​$2000…

A: Computation:

Q: On March 12, Nada joined a saving account. Her bank will automatically deduct BD 200 from her…

A: Future value of an investment is the combined sum of the principal amount and interest amount.…

Q: Randy opened an RRSP deposit account on December 1, 2008, with a deposit of $1800 He added $1800 on…

A: According to the time value rule, the money available in hand today is worth more than the amount…

Q: On June 3, 2014, Crystal Nelson deposits $8,000 in an account earning 2.5% compounded daily. What…

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

Q: Devine purchased an annuity of N$1 500 per month from an insurer on 31 May 2019. The cash…

A: Answer: As per rules if taxpayer invested in annuity after tax income then amount received of…

Q: ABC signed a 5-year, 9% note payable for $80,000 on May 1, 2012. Which account will be credited when…

A: Journal entry for Note Payable   1.Interest expense will be debited to book current years interest…

Q: George borrowed $1,500 from Sally on April 13, 2018. George repaid the loan on September 20, 2018,…

A: Given Information: Principal amount = $1,500 Interest = $60

Q: Sarah Co. borrowed OR200,000 on January 1, 2019, and signed a two-year note bearing interest at 12%.…

A: Notes payable: Notes payable can be defined as the promissory note issued by the company against the…

Q: As of December 31, 2021, Mr. Koekie Dano holds a 60-day. 10% note of P240,000 signed by Ms. Joy…

A: Data given: Koekie  Dano holds 60 day, 10% note of P 240,000 Principal = P 240,000 n= 60 days i= 10%

Q: Otto Co. borrows money on April 30, 2019, by promising to make four payments of $13,000 each…

A: Time value of money: Time value of money refers to the concept that the value of money available at…

Q: 7. To accumulate Php 85 250, Joanna needs to place equal deposits at the end of every 3 months in a…

A: Given: Future Value of annuity payment (FVA) = Php 85250 Interest rate = 8% compounded quarterly…

Q: Beginning in January, a person plans to deposit $100 at the end of each month into an account…

A: Using excel FV function

Q: How do I classify a $100,000 notes payable that was setup in 2018 on my december 2019 ending balance…

A: Notes payable is a liability for the business. Liability can be current liability or long term…

Q: On Jan.1, 2016, Diana opened an account with a P50000 deposit. On Jan.1, 2017, she withdraws P25000…

A: Let 2016 be year 0. CF0 = P 50000 CF1 = - P 25000 CF3 = P 75000 r = 7.5% We need to find the future…

Q: on December 31, 2022 to be ab d of each month for the next 2 mount on deposit will earn ann d…

A: Given as, PMT=4000 RATE =2%/12 N=25  x 12=300

Q: Otto Co. borrows money on April 30, 2019, by promising to make four payments of $13,000 each…

A: Time value of money: Time value of money refers to the concept that the value of money available at…

Q: Otto Co. borrows money on April 30, 2019, by promising to make four payments of $13,000 each…

A: Definition: Time value of money: Time value of money refers to the concept that the value of money…

Q: To expand his business, Happy took a loan of $1million from a bank on 1 January 2020 which he will…

A: Here, Loan Amount is $1,000,000 Interest Rate charged is as follows: 5% per annum effective for…

Q: Gus deposited $6,000 on February 4, 2021. How much does Gus have on September 4, 2028, if the rate…

A: Future value is the worth of the current amount in future date for given interest rate.

Q: Haatim opened an RRSP deposit account on December 1, 2008, with a deposit of $2500. He added $2500…

A: Time value of money-It is based on the concept that money earned today is worth more than similar…

Q: To expand his business, Happy took a loan of $1million from a bank on 1 January 2020 which he will…

A: Here, Loan Amount is $1,000,000 Interest Rate charged is as follows: 5% per annum effective for…

Q: A person deposits an amount of 500 dinars on the tenth day of each month of the year 2020, and if…

A: Annuity means finite no. of payments which are same in size and made in equal time intervals. Person…

Q: On May 11, Ali joined a gulf club. His bank will automatically deduct BD 120 from his checking…

A: The future value of a present value is the value of that amount after taking into account the time…

Q: It is January 1, 2021 and you work for a company that deposits $7,000 on December 31st every year…

A: The idea of the time value of money states that a certain amount of money is worth more right now…

Q: Joey has 750,000 in bank account as of December 31,2018. If he deposited P40,000 in the account at…

A: Interest is the amount paid to the bank against loan taken. It is determined by multiplying the…

Q: How much must Riley have in the account for Scott to receive the $220 payments for 5 years? If Riley…

A: A stream of equal cash flows paid or received periodically is termed as annuity. Annuity is either…

Q: Justin P buys an Audi for $60,000 to be repaid in equal monthly payments over a 7 year period at 9%…

A: given, principal (p) = $60,000 r=9% m=12 n=7

Q: nthly deposit must be made made by richard for 3 years and 6 months in order to accumulate $400 000…

A: The given problem can be solved using PMT function in excel. PMT function computes savings/…

Q: How much is in his account on June 1, 2016, if the deposit earns 6.7% p.a. compounded monthly?

A: Future value: It represents the future worth of the cash flow stream and is computed by compounding…

Q: how much is in the account immediately after the deposit on January 1, 2025?

A: Time value of money ( TVM) means that the amount of money received in the present period will have…

Q: On February 14, 2014, Rogine borrowed Php60,250 at 7% compounded semiannually. How much does he…

A: Solution:- When an amount is borrowed, it has to be repaid along with interest. The amount borrowed…

Q: if you deposit $190, $250, and $300 in a savings account at the end of the years 2017, 2018, and…

A: Money at the end of 2017 =$190

Q: Dillion Savage decides to make semiannual $5000 deposits into an account that pays 5% compounded…

A: The future value of annuity due would be providing the value for the purpose of regular installments…

Q: To expand his business, Happy took a loan of $1million from a bank on 1 January 2020 which he will…

A: Here, Loan Amount is $1,000,000 Interest Rate charged is as follows: 5% per annum effective for…